Tower Research Capital LLC TRC Raises Position in Regal Beloit Corp. (RBC)
Tower Research Capital LLC TRC raised its position in shares of Regal Beloit Corp. (NYSE:RBC) by 1,443.1% during the second quarter, Holdings Channel reports. The firm owned 1,898 shares of the company’s stock after buying an additional 1,775 shares during the period. Tower Research Capital LLC TRC’s holdings in Regal Beloit Corp. were worth $105,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the stock. Geode Capital Management LLC boosted its stake in shares of Regal Beloit Corp. by 4.3% in the first quarter. Geode Capital Management LLC now owns 282,183 shares of the company’s stock worth $17,802,000 after buying an additional 11,573 shares during the period. AXA acquired a new stake in shares of Regal Beloit Corp. during the first quarter worth approximately $10,425,000. Lazard Asset Management LLC acquired a new stake in shares of Regal Beloit Corp. during the first quarter worth approximately $8,981,000. State Street Corp boosted its stake in shares of Regal Beloit Corp. by 0.8% in the first quarter. State Street Corp now owns 1,104,459 shares of the company’s stock worth $69,681,000 after buying an additional 8,563 shares during the period. Finally, NN Investment Partners Holdings N.V. acquired a new stake in shares of Regal Beloit Corp. during the first quarter worth approximately $303,000. Hedge funds and other institutional investors own 95.96% of the company’s stock.
Shares of Regal Beloit Corp. (NYSE:RBC) opened at 59.55 on Friday. The stock’s 50 day moving average is $59.74 and its 200 day moving average is $60.20. Regal Beloit Corp. has a 52-week low of $47.77 and a 52-week high of $68.45. The stock has a market cap of $2.66 billion, a price-to-earnings ratio of 18.79 and a beta of 1.57.
Regal Beloit Corp. (NYSE:RBC) last announced its quarterly earnings results on Monday, August 8th. The company reported $1.14 EPS for the quarter, missing the consensus estimate of $1.24 by $0.10. The firm had revenue of $838.60 million for the quarter, compared to analysts’ expectations of $857.88 million. Regal Beloit Corp. had a net margin of 4.30% and a return on equity of 10.35%. The business’s quarterly revenue was down 11.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.53 EPS. On average, equities analysts predict that Regal Beloit Corp. will post $4.39 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 14th. Investors of record on Friday, September 30th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend was Wednesday, September 28th. Regal Beloit Corp.’s payout ratio is currently 30.28%.
A number of equities analysts recently issued reports on RBC shares. TheStreet cut shares of Regal Beloit Corp. from a “buy” rating to a “hold” rating in a research note on Monday, June 20th. Jefferies Group reiterated a “hold” rating on shares of Regal Beloit Corp. in a research note on Friday, July 1st. Credit Suisse Group AG reiterated a “buy” rating on shares of Regal Beloit Corp. in a research note on Saturday, July 9th. BMO Capital Markets cut shares of Regal Beloit Corp. from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $76.00 to $66.00 in a research note on Tuesday, August 2nd. Finally, Zacks Investment Research upgraded shares of Regal Beloit Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, August 23rd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company. Regal Beloit Corp. has a consensus rating of “Hold” and an average price target of $63.50.
In related news, VP Terry R. Colvin sold 1,615 shares of the firm’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $62.47, for a total transaction of $100,889.05. Following the sale, the vice president now owns 21,146 shares of the company’s stock, valued at $1,320,990.62. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 2.00% of the company’s stock.
Regal Beloit Corp. Company Profile
Regal Beloit Corporation is a manufacturer of electric motors and controls, electric generators and controls, and power transmission products. The Company operates through three segments: Commercial and Industrial Systems, Climate Solutions and Power Transmission Solutions. Its Commercial and Industrial Systems segment produces medium and large motors, commercial and industrial equipment, generator and custom drives and systems serving commercial heating, ventilation and air conditioning (HVAC), and power and oil and gas systems.
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