CWM Advisors LLC purchased a new stake in Regal Beloit Corp (NYSE:RBC) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 4,294 shares of the industrial products company’s stock, valued at approximately $270,000.
Other large investors have also recently added to or reduced their stakes in the company. Chevy Chase Trust Holdings Inc. bought a new position in shares of Regal Beloit in the fourth quarter valued at approximately $34,000. Procyon Private Wealth Partners LLC bought a new position in shares of Regal Beloit in the fourth quarter valued at approximately $86,000. Amundi Pioneer Asset Management Inc. bought a new position in shares of Regal Beloit in the fourth quarter valued at approximately $112,000. Keebeck Wealth Management LLC bought a new position in shares of Regal Beloit in the fourth quarter valued at approximately $171,000. Finally, Point72 Hong Kong Ltd raised its position in shares of Regal Beloit by 47.6% in the fourth quarter. Point72 Hong Kong Ltd now owns 2,053 shares of the industrial products company’s stock valued at $176,000 after purchasing an additional 662 shares during the period. 91.41% of the stock is currently owned by institutional investors.
RBC has been the topic of a number of research reports. KeyCorp raised shares of Regal Beloit from a “sector weight” rating to an “overweight” rating and set a $82.00 target price on the stock in a research report on Thursday, May 14th. Zacks Investment Research lowered shares of Regal Beloit from a “hold” rating to a “sell” rating and set a $76.00 target price on the stock. in a research report on Thursday, May 7th. Oppenheimer raised shares of Regal Beloit from a “market perform” rating to an “outperform” rating and set a $83.00 target price on the stock in a research report on Sunday, May 17th. Stephens boosted their target price on shares of Regal Beloit from $88.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Monday, February 10th. Finally, Robert W. Baird boosted their target price on shares of Regal Beloit from $82.00 to $87.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. Regal Beloit has an average rating of “Hold” and an average target price of $81.29.
Regal Beloit (NYSE:RBC) last announced its quarterly earnings results on Monday, May 4th. The industrial products company reported $1.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.09 by $0.22. The firm had revenue of $734.20 million for the quarter, compared to analyst estimates of $746.41 million. Regal Beloit had a net margin of 6.38% and a return on equity of 9.49%. The business’s revenue for the quarter was down 14.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.40 EPS. Analysts predict that Regal Beloit Corp will post 3.69 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Friday, June 26th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend is Thursday, June 25th. Regal Beloit’s dividend payout ratio (DPR) is presently 21.86%.
Regal Beloit Profile
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.
Read More: How to Invest in Marijuana Stocks
Want to see what other hedge funds are holding RBC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Regal Beloit Corp (NYSE:RBC).
Receive News & Ratings for Regal Beloit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Regal Beloit and related companies with MarketBeat.com's FREE daily email newsletter.