JPMorgan Chase & Co. Has $182,924,000 Stake in Regal Beloit Corp. (RBC)
JPMorgan Chase & Co. lowered its position in Regal Beloit Corp. (NYSE:RBC) by 14.5% during the third quarter, Holdings Channel reports. The fund owned 3,074,860 shares of the company’s stock after selling 519,973 shares during the period. JPMorgan Chase & Co. owned about 0.07% of Regal Beloit Corp. worth $182,924,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Ronald Blue & Co. LLC raised its stake in shares of Regal Beloit Corp. by 0.4% in the third quarter. Ronald Blue & Co. LLC now owns 4,518 shares of the company’s stock worth $269,000 after buying an additional 18 shares during the last quarter. Hsbc Holdings PLC increased its stake in Regal Beloit Corp. by 0.7% in the second quarter. Hsbc Holdings PLC now owns 10,304 shares of the company’s stock worth $568,000 after buying an additional 71 shares during the period. AMG National Trust Bank increased its stake in Regal Beloit Corp. by 1.2% in the third quarter. AMG National Trust Bank now owns 8,057 shares of the company’s stock worth $479,000 after buying an additional 94 shares during the period. State Treasurer State of Michigan increased its stake in Regal Beloit Corp. by 0.6% in the second quarter. State Treasurer State of Michigan now owns 17,900 shares of the company’s stock worth $985,000 after buying an additional 100 shares during the period. Finally, Utah Retirement Systems increased its stake in Regal Beloit Corp. by 1.3% in the second quarter. Utah Retirement Systems now owns 8,095 shares of the company’s stock worth $446,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 91.33% of the company’s stock.
Regal Beloit Corp. (NYSE:RBC) opened at 72.90 on Thursday. The firm has a market capitalization of $3.26 billion, a P/E ratio of 23.69 and a beta of 1.53. The stock’s 50 day moving average price is $63.00 and its 200 day moving average price is $59.94. Regal Beloit Corp. has a 52 week low of $47.77 and a 52 week high of $73.50.
Regal Beloit Corp. (NYSE:RBC) last released its quarterly earnings data on Monday, November 7th. The company reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.06. Regal Beloit Corp. had a return on equity of 10.01% and a net margin of 4.27%. The business had revenue of $809.60 million for the quarter, compared to the consensus estimate of $826.04 million. During the same quarter in the prior year, the business posted $1.43 EPS. The business’s revenue for the quarter was down 8.2% on a year-over-year basis. On average, equities analysts expect that Regal Beloit Corp. will post $4.44 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 13th. Investors of record on Friday, December 30th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, December 28th. This represents a $0.96 dividend on an annualized basis and a yield of 1.32%. Regal Beloit Corp.’s dividend payout ratio is presently 31.17%.
A number of equities research analysts recently commented on RBC shares. Credit Suisse Group AG reaffirmed a “buy” rating and set a $63.00 target price on shares of Regal Beloit Corp. in a report on Tuesday, August 9th. TheStreet raised Regal Beloit Corp. from a “hold” rating to a “buy” rating in a report on Thursday, August 18th. Zacks Investment Research raised Regal Beloit Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, August 23rd. Seaport Global Securities downgraded Regal Beloit Corp. from an “accumulate” rating to a “neutral” rating and decreased their target price for the stock from $68.00 to $64.00 in a report on Tuesday, September 27th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Regal Beloit Corp. in a report on Monday, October 10th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $63.50.
In related news, VP John Avampato sold 626 shares of the firm’s stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $69.26, for a total transaction of $43,356.76. Following the transaction, the vice president now owns 13,097 shares in the company, valued at approximately $907,098.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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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