Regal Beloit Corp (RBC) Boosted by ValuEngine to Purchase

Regal Beloit Corp (RBC) Boosted by ValuEngine to Purchase

ValuEngine upgraded shares of Regal Beloit Corp (NYSE:RBC) from a hold rating to a buy rating in a report published on Friday morning.

A number of other equities research analysts have also issued reports on the stock. Zacks Investment Research raised shares of Regal Beloit Corp from a hold rating to a buy rating and set a $87.00 price objective for the company in a report on Tuesday, April 11th. Oppenheimer Holdings Inc. raised shares of Regal Beloit Corp from a market perform rating to an outperform rating and set a $90.00 price objective for the company in a report on Friday, May 5th. CIBC raised shares of Regal Beloit Corp from a market perform rating to an outperform rating in a report on Monday, May 15th. Stifel Nicolaus increased their price objective on shares of Regal Beloit Corp from $76.00 to $78.00 and gave the company a hold rating in a report on Thursday, February 9th. Finally, Jefferies Group LLC reaffirmed a hold rating and set a $73.00 price objective on shares of Regal Beloit Corp in a report on Tuesday, April 18th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Regal Beloit Corp presently has an average rating of Hold and a consensus price target of $74.43.

Regal Beloit Corp (NYSE:RBC) traded down 0.67% during trading on Friday, reaching $81.75. 46,061 shares of the company’s stock were exchanged. Regal Beloit Corp has a 12-month low of $51.57 and a 12-month high of $83.65. The stock’s 50-day moving average is $78.82 and its 200-day moving average is $74.66. The company has a market cap of $3.66 billion, a P/E ratio of 17.73 and a beta of 1.58.

Regal Beloit Corp (NYSE:RBC) last announced its quarterly earnings data on Monday, May 8th. The industrial products company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.12. Regal Beloit Corp had a net margin of 5.85% and a return on equity of 8.90%. The business had revenue of $813.50 million during the quarter, compared to analyst estimates of $807.40 million. During the same period last year, the firm posted $0.95 EPS. The company’s revenue was down .6% on a year-over-year basis. Analysts predict that Regal Beloit Corp will post $4.83 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Friday, June 30th will be issued a $0.26 dividend. The ex-dividend date is Wednesday, June 28th. This is a positive change from Regal Beloit Corp’s previous quarterly dividend of $0.24. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.26%. Regal Beloit Corp’s dividend payout ratio (DPR) is 21.24%.

In related news, Director Henry W. Knueppel sold 10,800 shares of the firm’s stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $80.03, for a total value of $864,324.00. Following the completion of the transaction, the director now directly owns 4,326 shares of the company’s stock, valued at $346,209.78. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 2.00% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its position in Regal Beloit Corp by 12,739.2% in the first quarter. BlackRock Inc. now owns 4,042,162 shares of the industrial products company’s stock worth $305,789,000 after buying an additional 4,010,679 shares during the period. Norges Bank acquired a new position in Regal Beloit Corp during the fourth quarter worth $41,221,000. FMR LLC raised its position in Regal Beloit Corp by 7.3% in the fourth quarter. FMR LLC now owns 6,714,191 shares of the industrial products company’s stock worth $464,958,000 after buying an additional 456,561 shares during the period. Bank of New York Mellon Corp raised its position in Regal Beloit Corp by 49.5% in the first quarter. Bank of New York Mellon Corp now owns 791,521 shares of the industrial products company’s stock worth $59,878,000 after buying an additional 262,168 shares during the period. Finally, Vanguard Group Inc. raised its position in Regal Beloit Corp by 6.8% in the first quarter. Vanguard Group Inc. now owns 3,992,141 shares of the industrial products company’s stock worth $302,006,000 after buying an additional 253,058 shares during the period. 88.60% of the stock is owned by hedge funds and other institutional investors.

About Regal Beloit Corp

Regal Beloit Corporation is a manufacturer of electric motors, electrical motion controls, power generation and power transmission products. The Company operates through three segments: the Commercial and Industrial Systems segment, with its principal line of business in medium and large electric motors, power generation products, high-performance drives and controls and capacitors; the Climate Solutions segment, with its principal line of business in small motors, controls and air moving products, and the Power Transmission Solutions segment, with its principal line of business in power transmission gearing, hydraulic pump drives, open gearing and specialty mechanical products which control motion and torque.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “RBC”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

To view ValuEngine’s full report, visit ValuEngine’s official website.

Related posts

Leave a Comment