Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Regal Beloit Corp (NYSE:RBC) by 30.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,600 shares of the industrial products company’s stock after purchasing an additional 831 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Regal Beloit were worth $252,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in RBC. First Hawaiian Bank bought a new stake in shares of Regal Beloit during the third quarter valued at approximately $169,000. C M Bidwell & Associates Ltd. raised its stake in shares of Regal Beloit by 150.5% during the third quarter. C M Bidwell & Associates Ltd. now owns 2,305 shares of the industrial products company’s stock valued at $190,000 after acquiring an additional 1,385 shares in the last quarter. Ifrah Financial Services Inc. bought a new stake in shares of Regal Beloit during the third quarter valued at approximately $207,000. Virtu Financial LLC bought a new stake in shares of Regal Beloit during the third quarter valued at approximately $213,000. Finally, Stevens Capital Management LP bought a new position in Regal Beloit in the third quarter worth approximately $233,000. Institutional investors and hedge funds own 95.78% of the company’s stock.
A number of brokerages recently commented on RBC. Zacks Investment Research raised shares of Regal Beloit from a “sell” rating to a “hold” rating in a research note on Wednesday, January 23rd. Royal Bank of Canada downgraded shares of Regal Beloit from an “outperform” rating to a “market perform” rating in a research note on Tuesday, January 8th. CIBC reissued a “market perform” rating on shares of Regal Beloit in a research note on Tuesday, January 8th. Wolfe Research downgraded shares of Regal Beloit from an “outperform” rating to a “market perform” rating in a research note on Tuesday, January 8th. Finally, BMO Capital Markets reduced their price objective on shares of Regal Beloit to $83.00 and set a “market perform” rating for the company in a research note on Wednesday, November 7th. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Regal Beloit currently has an average rating of “Hold” and a consensus price target of $88.75.
Regal Beloit (NYSE:RBC) last issued its quarterly earnings results on Monday, February 4th. The industrial products company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.10. The business had revenue of $881.70 million for the quarter, compared to the consensus estimate of $864.76 million. Regal Beloit had a return on equity of 11.18% and a net margin of 6.34%. The business’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.14 earnings per share. On average, equities analysts forecast that Regal Beloit Corp will post 6.42 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 12th. Stockholders of record on Friday, March 29th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend is Thursday, March 28th. Regal Beloit’s payout ratio is presently 18.67%.
Regal Beloit Profile
Regal Beloit Corporation, together with its subsidiaries, designs, manufactures, and sells electric motors, electrical motion controls, and power generation and power transmission products worldwide. It operates through three segments: Commercial and Industrial Systems, Climate Solutions, and Power Transmission Solutions.
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