Royal Bank of Canada reaffirmed their buy rating on shares of Regal Beloit (NYSE:RBC) in a research report released on Monday, The Fly reports. They currently have a $90.00 target price on the industrial products company’s stock, down from their previous target price of $95.00.
RBC has been the subject of several other research reports. Zacks Investment Research downgraded shares of Regal Beloit from a buy rating to a hold rating in a report on Thursday, August 9th. Goldman Sachs Group assumed coverage on shares of Regal Beloit in a report on Wednesday, October 3rd. They set a buy rating and a $95.00 price target for the company. Finally, BMO Capital Markets boosted their price target on shares of Regal Beloit from $89.00 to $92.00 and gave the company a market perform rating in a report on Wednesday, August 8th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $90.25.
Regal Beloit stock traded down $0.03 during mid-day trading on Monday, reaching $77.03. The company’s stock had a trading volume of 2,198 shares, compared to its average volume of 261,222. The company has a market cap of $3.28 billion, a PE ratio of 15.69, a P/E/G ratio of 1.27 and a beta of 1.51. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.24 and a quick ratio of 1.22. Regal Beloit has a twelve month low of $67.84 and a twelve month high of $86.75.
Regal Beloit (NYSE:RBC) last announced its quarterly earnings results on Monday, November 5th. The industrial products company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.06. Regal Beloit had a net margin of 6.77% and a return on equity of 10.30%. The company had revenue of $925.40 million during the quarter, compared to the consensus estimate of $924.18 million. During the same quarter in the previous year, the company posted $1.39 earnings per share. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. Equities research analysts anticipate that Regal Beloit will post 5.92 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 11th. Stockholders of record on Friday, December 28th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend is Thursday, December 27th. Regal Beloit’s dividend payout ratio (DPR) is 23.00%.
In other 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 transaction of $495,501.55. Following the completion of the transaction, the director now owns 17,900 shares of the company’s stock, valued at $1,457,597. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 2.30% of the company’s stock.
A number of hedge funds have recently bought and sold shares of RBC. Legal & General Group Plc lifted its holdings in Regal Beloit by 9.7% in the first quarter. Legal & General Group Plc now owns 69,922 shares of the industrial products company’s stock worth $5,129,000 after purchasing an additional 6,160 shares during the period. Allianz Asset Management GmbH lifted its holdings in Regal Beloit by 2.7% in the first quarter. Allianz Asset Management GmbH now owns 493,826 shares of the industrial products company’s stock worth $36,222,000 after purchasing an additional 12,924 shares during the period. State of Alaska Department of Revenue lifted its holdings in Regal Beloit by 38.6% in 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 purchasing an additional 1,350 shares during the period. Dalton Greiner Hartman Maher & Co. lifted its holdings in Regal Beloit by 174.0% in the second quarter. Dalton Greiner Hartman Maher & Co. now owns 146,850 shares of the industrial products company’s stock worth $12,012,000 after purchasing an additional 93,250 shares during the period. Finally, Bank of Montreal Can lifted its holdings in Regal Beloit by 4.2% in the second quarter. Bank of Montreal Can now owns 274,763 shares of the industrial products company’s stock worth $22,475,000 after purchasing an additional 11,050 shares during the period. 93.24% of the stock is owned by institutional investors and hedge funds.
Regal Beloit Company 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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