Piermont Capital Management Inc. trimmed its stake in Regal Beloit Corporation (NYSE:RBC) by 20.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 31,220 shares of the industrial products company’s stock after selling 8,040 shares during the period. Regal Beloit Corporation accounts for about 0.7% of Piermont Capital Management Inc.’s investment portfolio, making the stock its 25th largest position. Piermont Capital Management Inc. owned approximately 0.07% of Regal Beloit Corporation worth $2,546,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the stock. Ronald Blue & Co. LLC raised its stake in shares of Regal Beloit Corporation by 0.3% in the 2nd quarter. Ronald Blue & Co. LLC now owns 4,566 shares of the industrial products company’s stock valued at $372,000 after acquiring an additional 14 shares in the last quarter. Teacher Retirement System of Texas raised its stake in shares of Regal Beloit Corporation by 1.1% in the 2nd quarter. Teacher Retirement System of Texas now owns 3,570 shares of the industrial products company’s stock valued at $291,000 after acquiring an additional 39 shares in the last quarter. Synovus Financial Corp raised its stake in shares of Regal Beloit Corporation by 4.4% in the 2nd quarter. Synovus Financial Corp now owns 2,607 shares of the industrial products company’s stock valued at $209,000 after acquiring an additional 110 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Regal Beloit Corporation by 5.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,514 shares of the industrial products company’s stock valued at $191,000 after acquiring an additional 134 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Regal Beloit Corporation by 1.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,704 shares of the industrial products company’s stock valued at $710,000 after acquiring an additional 139 shares in the last quarter. 92.14% of the stock is currently owned by institutional investors and hedge funds.

Regal Beloit Corporation (NYSE RBC) traded up 0.32% during mid-day trading on Friday, hitting $78.75. The stock had a trading volume of 216,927 shares. The stock’s 50 day moving average price is $77.49 and its 200 day moving average price is $78.76. Regal Beloit Corporation has a one year low of $56.45 and a one year high of $87.50. The firm has a market capitalization of $3.51 billion, a price-to-earnings ratio of 17.38 and a beta of 1.52.

Regal Beloit Corporation (NYSE:RBC) last announced its earnings results on Monday, August 7th. The industrial products company reported $1.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.28 by $0.01. The company had revenue of $869.20 million for the quarter, compared to analyst estimates of $854.66 million. Regal Beloit Corporation had a return on equity of 9.88% and a net margin of 6.29%. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.14 earnings per share. Analysts forecast that Regal Beloit Corporation will post $4.87 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.32%. Regal Beloit Corporation’s dividend payout ratio (DPR) is currently 22.96%.

A number of brokerages recently weighed in on RBC. Jefferies Group LLC reissued a “hold” rating and issued a $80.00 price objective on shares of Regal Beloit Corporation in a research note on Friday, July 14th. ValuEngine raised Regal Beloit Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Zacks Investment Research downgraded Regal Beloit Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. BidaskClub downgraded Regal Beloit Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, Wolfe Research began coverage on Regal Beloit Corporation in a research note on Tuesday, July 11th. They issued a “market perform” rating on the stock. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $83.00.

In other news, Director Henry W. Knueppel sold 20,000 shares of the stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $85.00, for a total transaction of $1,700,000.00. Following the transaction, the director now owns 3,726 shares in the company, valued at $316,710. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.20% of the stock is currently owned by company insiders.

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About Regal Beloit Corporation

Regal Beloit Corporation is a manufacturer of electric motors, electrical motion controls, power generation and power transmission products. The Company operates through three segments: the Commercial and Industrial Systems segment, with its principal line of business in medium and large electric motors, power generation products, high-performance drives and controls and capacitors; the Climate Solutions segment, with its principal line of business in small motors, controls and air moving products, and the Power Transmission Solutions segment, with its principal line of business in power transmission gearing, hydraulic pump drives, open gearing and specialty mechanical products which control motion and torque.

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

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