Gotham Asset Management LLC trimmed its position in Regal Beloit Corporation (NYSE:RBC) by 58.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 95,575 shares of the industrial products company’s stock after selling 136,300 shares during the period. Gotham Asset Management LLC owned approximately 0.21% of Regal Beloit Corporation worth $7,794,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of RBC. BlackRock Inc. lifted its holdings in shares of Regal Beloit Corporation by 12,739.2% in the first quarter. BlackRock Inc. now owns 4,042,162 shares of the industrial products company’s stock valued at $305,789,000 after purchasing an additional 4,010,679 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Regal Beloit Corporation by 6.8% in the first quarter. Vanguard Group Inc. now owns 3,992,141 shares of the industrial products company’s stock valued at $302,006,000 after purchasing an additional 253,058 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Regal Beloit Corporation by 10.2% in the first quarter. Dimensional Fund Advisors LP now owns 2,519,036 shares of the industrial products company’s stock valued at $190,565,000 after purchasing an additional 233,454 shares in the last quarter. Kennedy Capital Management Inc. lifted its holdings in shares of Regal Beloit Corporation by 94.7% in the second quarter. Kennedy Capital Management Inc. now owns 364,485 shares of the industrial products company’s stock valued at $29,724,000 after purchasing an additional 177,243 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in shares of Regal Beloit Corporation by 36.2% in the first quarter. Nuveen Asset Management LLC now owns 386,346 shares of the industrial products company’s stock valued at $29,227,000 after purchasing an additional 102,723 shares in the last quarter. Institutional investors own 92.14% of the company’s stock.

A number of analysts have recently commented on the company. Robert W. Baird restated a “buy” rating and issued a $88.00 price target on shares of Regal Beloit Corporation in a report on Wednesday, October 4th. Morgan Stanley boosted their price target on Regal Beloit Corporation from $82.00 to $87.00 and gave the company an “equal weight” rating in a report on Monday, October 2nd. BidaskClub lowered Regal Beloit Corporation from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 22nd. Stifel Nicolaus restated a “hold” rating and issued a $85.00 price target on shares of Regal Beloit Corporation in a report on Tuesday, August 22nd. Finally, Zacks Investment Research lowered Regal Beloit Corporation from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. Regal Beloit Corporation currently has an average rating of “Hold” and a consensus target price of $86.33.

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In related news, Director Henry W. Knueppel sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $85.00, for a total value of $1,700,000.00. Following the transaction, the director now owns 3,726 shares of the company’s stock, valued at approximately $316,710. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.20% of the stock is currently owned by company insiders.

Shares of Regal Beloit Corporation (RBC) opened at 79.55 on Tuesday. Regal Beloit Corporation has a 52-week low of $56.45 and a 52-week high of $87.50. The company has a 50 day moving average price of $77.07 and a 200-day moving average price of $79.23. The firm has a market cap of $3.55 billion, a P/E ratio of 17.56 and a beta of 1.53.

Regal Beloit Corporation (NYSE:RBC) last announced its quarterly earnings results on Monday, August 7th. The industrial products company reported $1.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.28 by $0.01. Regal Beloit Corporation had a net margin of 6.29% and a return on equity of 9.88%. The business had revenue of $869.20 million for the quarter, compared to analysts’ expectations of $854.66 million. During the same quarter last year, the firm earned $1.14 EPS. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. On average, analysts expect that Regal Beloit Corporation will post $4.86 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be given a $0.26 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.04 annualized dividend and a yield of 1.32%. Regal Beloit Corporation’s payout ratio is 22.96%.

Regal Beloit Corporation Profile

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.

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

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