Systematic Financial Management LP Boosts Position in Regal Beloit Corp (RBC)

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Systematic Financial Management LP increased its stake in shares of Regal Beloit Corp (NYSE:RBC) by 13.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 262,336 shares of the industrial products company’s stock after buying an additional 31,421 shares during the quarter. Systematic Financial Management LP’s holdings in Regal Beloit were worth $21,459,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. State of Alaska Department of Revenue increased its position in Regal Beloit by 38.6% during the second quarter. State of Alaska Department of Revenue now owns 4,850 shares of the industrial products company’s stock worth $396,000 after acquiring an additional 1,350 shares during the period. Northern Trust Corp increased its position in Regal Beloit by 1.6% during the first quarter. Northern Trust Corp now owns 613,691 shares of the industrial products company’s stock worth $45,014,000 after acquiring an additional 9,730 shares during the period. Renaissance Technologies LLC bought a new position in Regal Beloit during the fourth quarter worth $2,336,000. BlackRock Inc. increased its position in Regal Beloit by 5.6% during the first quarter. BlackRock Inc. now owns 4,480,349 shares of the industrial products company’s stock worth $328,633,000 after acquiring an additional 236,942 shares during the period. Finally, Franklin Resources Inc. increased its position in Regal Beloit by 67.1% during the first quarter. Franklin Resources Inc. now owns 745,024 shares of the industrial products company’s stock worth $54,648,000 after acquiring an additional 299,269 shares during the period. Hedge funds and other institutional investors own 93.83% of the company’s stock.

In other Regal Beloit news, Director Christopher L. Doerr sold 6,085 shares of the business’s stock in a transaction on Friday, August 10th. The shares were sold at an average price of $81.43, for a total value of $495,501.55. Following the sale, the director now owns 17,900 shares of the company’s stock, valued at approximately $1,457,597. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.30% of the company’s stock.

Shares of Regal Beloit stock opened at $82.65 on Friday. The firm has a market capitalization of $3.50 billion, a price-to-earnings ratio of 16.97, a price-to-earnings-growth ratio of 1.36 and a beta of 1.51. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.22 and a current ratio of 2.24. Regal Beloit Corp has a 52-week low of $67.84 and a 52-week high of $86.65.

Regal Beloit (NYSE:RBC) last announced its quarterly earnings results on Monday, August 6th. The industrial products company reported $1.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.59 by $0.01. The firm had revenue of $959.70 million for the quarter, compared to analyst estimates of $953.65 million. Regal Beloit had a net margin of 6.77% and a return on equity of 10.30%. The business’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.29 EPS. analysts expect that Regal Beloit Corp will post 5.92 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 12th. Shareholders of record on Friday, September 28th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend is Thursday, September 27th. Regal Beloit’s dividend payout ratio (DPR) is presently 23.00%.

RBC has been the topic of a number of research reports. Zacks Investment Research lowered shares of Regal Beloit from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 10th. Wolfe Research initiated coverage on shares of Regal Beloit in a research report on Wednesday, June 27th. They set an “outperform” rating and a $97.00 target price on the stock. Finally, BMO Capital Markets boosted their target price on shares of Regal Beloit from $89.00 to $92.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. Regal Beloit presently has an average rating of “Hold” and an average target price of $88.60.

About Regal Beloit

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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Institutional Ownership by Quarter for Regal Beloit (NYSE:RBC)

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