Regal Beloit (NYSE:RBC) Trading Up 13.2%

Regal Beloit Corp (NYSE:RBC)’s share price was up 13.2% during mid-day trading on Monday . The company traded as high as $66.28 and last traded at $65.47, approximately 197,499 shares changed hands during trading. A decline of 33% from the average daily volume of 294,624 shares. The stock had previously closed at $57.85.

A number of research analysts have issued reports on RBC shares. Stephens boosted their price objective on shares of Regal Beloit from $88.00 to $91.00 and gave the company an “equal weight” rating in a research report on Monday, February 10th. Wells Fargo & Co reduced their target price on shares of Regal Beloit from $85.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Monday, March 16th. Finally, Royal Bank of Canada reaffirmed a “hold” rating on shares of Regal Beloit in a research report on Tuesday, March 3rd. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $83.00.

The stock’s 50-day moving average price is $72.99 and its two-hundred day moving average price is $78.50. The stock has a market capitalization of $2.35 billion, a PE ratio of 11.65, a P/E/G ratio of 1.08 and a beta of 1.45. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.66 and a current ratio of 2.87.

Regal Beloit (NYSE:RBC) last announced its quarterly earnings data on Monday, February 3rd. The industrial products company reported $1.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.23 by $0.02. Regal Beloit had a net margin of 7.38% and a return on equity of 9.69%. The company had revenue of $738.20 million for the quarter, compared to the consensus estimate of $736.53 million. During the same period in the prior year, the firm posted $1.41 EPS. Regal Beloit’s revenue for the quarter was down 16.3% on a year-over-year basis. On average, analysts predict that Regal Beloit Corp will post 5.36 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Investors of record on Friday, March 27th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.83%. The ex-dividend date is Thursday, March 26th. Regal Beloit’s dividend payout ratio (DPR) is 21.86%.

Hedge funds have recently made changes to their positions in the stock. Chevy Chase Trust Holdings Inc. purchased a new stake in Regal Beloit during the 4th quarter valued at about $34,000. Procyon Private Wealth Partners LLC bought a new position in Regal Beloit during the 4th quarter valued at about $86,000. Amundi Pioneer Asset Management Inc. bought a new position in Regal Beloit during the 4th quarter valued at about $112,000. Keebeck Wealth Management LLC bought a new position in Regal Beloit during the 4th quarter valued at about $171,000. Finally, Point72 Hong Kong Ltd lifted its stake in Regal Beloit by 47.6% during the 4th quarter. Point72 Hong Kong Ltd now owns 2,053 shares of the industrial products company’s stock valued at $176,000 after acquiring an additional 662 shares during the period. 94.09% of the stock is currently owned by institutional investors.

Regal Beloit Company Profile (NYSE:RBC)

Regal Beloit Corporation, together with its subsidiaries, designs, manufactures, and sells electric motors, electrical motion controls, and power generation and transmission products worldwide. It operates through three segments: Commercial and Industrial Systems, Climate Solutions, and Power Transmission Solutions.

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