Bank of America Corp DE Acquires 14,033 Shares of Regal Beloit Corp (RBC)

Bank of America Corp DE increased its holdings in shares of Regal Beloit Corp (NYSE:RBC) by 7.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 204,231 shares of the industrial products company’s stock after acquiring an additional 14,033 shares during the quarter. Bank of America Corp DE owned about 0.47% of Regal Beloit worth $16,706,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. World Asset Management Inc bought a new position in Regal Beloit during the second quarter worth about $205,000. Robeco Institutional Asset Management B.V. bought a new position in Regal Beloit during the second quarter worth about $216,000. Regentatlantic Capital LLC increased its position in Regal Beloit by 22.9% during the second quarter. Regentatlantic Capital LLC now owns 3,705 shares of the industrial products company’s stock worth $303,000 after acquiring an additional 690 shares during the period. Balter Liquid Alternatives LLC bought a new position in Regal Beloit during the second quarter worth about $356,000. Finally, Koch Industries Inc. increased its position in Regal Beloit by 69.3% during the first quarter. Koch Industries Inc. now owns 5,189 shares of the industrial products company’s stock worth $381,000 after acquiring an additional 2,124 shares during the period. 93.06% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Christopher L. Doerr sold 6,085 shares of the firm’s stock in a transaction that occurred 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 directly owns 17,900 shares in the company, valued at approximately $1,457,597. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 2.30% of the company’s stock.

Shares of Regal Beloit stock opened at $83.63 on Tuesday. The stock has a market cap of $3.58 billion, a price-to-earnings ratio of 17.08, a PEG ratio of 1.39 and a beta of 1.50. 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 12-month low of $67.84 and a 12-month high of $86.75.

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

The business also recently declared a quarterly dividend, which will be paid on Friday, October 12th. Stockholders of record on Friday, September 28th will be paid a $0.28 dividend. The ex-dividend date is Thursday, September 27th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.34%. Regal Beloit’s payout ratio is currently 23.00%.

A number of equities research analysts have issued reports on RBC shares. Goldman Sachs Group started coverage on shares of Regal Beloit in a research note on Wednesday, October 3rd. They set a “buy” rating and a $95.00 price objective on the stock. BMO Capital Markets increased their price objective on shares of Regal Beloit from $89.00 to $92.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 8th. Zacks Investment Research upgraded shares of Regal Beloit from a “hold” rating to a “buy” rating and set a $92.00 price objective on the stock in a research note on Wednesday, August 8th. Finally, Wolfe Research started coverage on shares of Regal Beloit in a research note on Wednesday, June 27th. They set an “outperform” rating and a $97.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $90.25.

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

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