Virtu Financial LLC purchased a new stake in shares of Regal Beloit Corp (NYSE:RBC) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,207 shares of the industrial products company’s stock, valued at approximately $379,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Arizona State Retirement System lifted its stake in Regal Beloit by 1.1% during the second quarter. Arizona State Retirement System now owns 31,076 shares of the industrial products company’s stock worth $2,539,000 after purchasing an additional 352 shares during the last quarter. Virginia Retirement Systems ET AL purchased a new stake in Regal Beloit during the second quarter valued at $752,000. SG Americas Securities LLC boosted its position in Regal Beloit by 26.6% in the second quarter. SG Americas Securities LLC now owns 26,388 shares of the industrial products company’s stock worth $2,156,000 after purchasing an additional 5,544 shares during the last quarter. Fisher Asset Management LLC boosted its position in Regal Beloit by 1.5% in the second quarter. Fisher Asset Management LLC now owns 624,835 shares of the industrial products company’s stock worth $51,055,000 after purchasing an additional 9,096 shares during the last quarter. Finally, Alpha Windward LLC grew its stake in shares of Regal Beloit by 8.4% during the 2nd quarter. Alpha Windward LLC now owns 6,369 shares of the industrial products company’s stock valued at $510,000 after purchasing an additional 494 shares during the period. Institutional investors own 92.61% of the company’s stock.
Shares of RBC stock opened at $81.28 on Wednesday. The stock has a market cap of $3.35 billion, a P/E ratio of 13.55, a PEG ratio of 1.49 and a beta of 1.61. Regal Beloit Corp has a 52 week low of $66.04 and a 52 week high of $87.31. The company has a quick ratio of 1.60, a current ratio of 2.83 and a debt-to-equity ratio of 0.54. The company’s fifty day simple moving average is $78.90 and its two-hundred day simple moving average is $76.49.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 27th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date is Thursday, December 26th. Regal Beloit’s dividend payout ratio (DPR) is 20.00%.
Separately, Goldman Sachs Group set a $80.00 price objective on shares of Regal Beloit and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $84.75.
In other Regal Beloit news, VP John Avampato sold 5,380 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $82.96, for a total transaction of $446,324.80. Following the sale, the vice president now owns 10,234 shares of the company’s stock, valued at approximately $849,012.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jonathan J. Schlemmer sold 4,480 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $82.74, for a total value of $370,675.20. Following the sale, the chief operating officer now directly owns 78,963 shares in the company, valued at approximately $6,533,398.62. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by insiders.
About Regal Beloit
Regal Beloit Corporation, together with its subsidiaries, designs, manufactures, and sells electric motors, electrical motion controls, and power generation and transmission products worldwide. It operates through three segments: Commercial and Industrial Systems, Climate Solutions, and Power Transmission Solutions.
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