Regal Beloit Corp (RBC) Shares Sold by GSA Capital Partners LLP
GSA Capital Partners LLP lessened its stake in shares of Regal Beloit Corp (NYSE:RBC) by 27.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 4,879 shares of the industrial products company’s stock after selling 1,846 shares during the quarter. GSA Capital Partners LLP’s holdings in Regal Beloit were worth $385,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Pinebridge Investments L.P. purchased a new position in Regal Beloit during the third quarter worth about $204,000. Synovus Financial Corp boosted its stake in Regal Beloit by 4.4% during the second quarter. Synovus Financial Corp now owns 2,607 shares of the industrial products company’s stock worth $209,000 after buying an additional 110 shares during the period. Airain ltd purchased a new position in Regal Beloit during the second quarter worth about $224,000. M&T Bank Corp purchased a new position in Regal Beloit during the second quarter worth about $237,000. Finally, Magnetar Financial LLC purchased a new position in shares of Regal Beloit in the third quarter valued at approximately $246,000. 93.81% of the stock is owned by institutional investors.
Regal Beloit Corp (RBC) opened at $79.20 on Friday. The company has a quick ratio of 1.22, a current ratio of 2.22 and a debt-to-equity ratio of 0.48. Regal Beloit Corp has a 12 month low of $68.30 and a 12 month high of $87.50. The company has a market cap of $3,510.00, a P/E ratio of 17.22, a PEG ratio of 1.34 and a beta of 1.48.
Regal Beloit (NYSE:RBC) last posted its quarterly earnings data on Monday, November 6th. The industrial products company reported $1.37 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.38 by ($0.01). Regal Beloit had a net margin of 6.28% and a return on equity of 9.76%. The business had revenue of $857.00 million during the quarter, compared to analysts’ expectations of $837.19 million. During the same period in the previous year, the business posted $1.31 EPS. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. sell-side analysts expect that Regal Beloit Corp will post 4.87 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Friday, December 29th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.04 dividend on an annualized basis and a yield of 1.31%. Regal Beloit’s dividend payout ratio is currently 22.61%.
RBC has been the subject of several recent research reports. Morgan Stanley raised their price objective on shares of Regal Beloit from $82.00 to $87.00 and gave the company an “equal weight” rating in a research note on Monday, October 2nd. Robert W. Baird reissued a “buy” rating and issued a $88.00 price objective on shares of Regal Beloit in a research note on Wednesday, October 4th. Royal Bank of Canada reissued a “buy” rating on shares of Regal Beloit in a research note on Monday, November 6th. BMO Capital Markets lowered their price objective on shares of Regal Beloit from $88.00 to $85.00 and set a “market perform” rating for the company in a research note on Tuesday, November 7th. Finally, ValuEngine lowered shares of Regal Beloit from a “buy” rating to a “hold” rating in a research note on Wednesday, November 15th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $86.56.
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About Regal Beloit
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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