Lazard Asset Management LLC lifted its stake in shares of Regal Beloit Corp (NYSE:RBC) by 14.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 176,140 shares of the industrial products company’s stock after purchasing an additional 21,730 shares during the period. Lazard Asset Management LLC owned approximately 0.40% of Regal Beloit worth $13,492,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Tower Research Capital LLC TRC lifted its position in shares of Regal Beloit by 2,200.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,300 shares of the industrial products company’s stock worth $176,000 after purchasing an additional 2,200 shares in the last quarter. Pinebridge Investments L.P. acquired a new position in shares of Regal Beloit during the third quarter worth approximately $204,000. State of Alaska Department of Revenue bought a new stake in shares of Regal Beloit during the fourth quarter worth approximately $199,000. Magnetar Financial LLC bought a new stake in shares of Regal Beloit during the third quarter worth approximately $246,000. Finally, Regentatlantic Capital LLC bought a new stake in shares of Regal Beloit during the fourth quarter worth approximately $241,000. Institutional investors own 96.70% of the company’s stock.
Shares of Regal Beloit Corp (NYSE:RBC) traded up $0.27 during trading hours on Wednesday, reaching $74.45. 283,714 shares of the company’s stock traded hands, compared to its average volume of 383,808. Regal Beloit Corp has a 1 year low of $67.84 and a 1 year high of $87.50. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.21 and a quick ratio of 1.15. The company has a market capitalization of $3,300.00, a P/E ratio of 15.77, a PEG ratio of 1.21 and a beta of 1.44.
Regal Beloit (NYSE:RBC) last issued its earnings results on Monday, February 5th. The industrial products company reported $1.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.01. Regal Beloit had a net margin of 6.34% and a return on equity of 9.64%. The firm had revenue of $820.70 million during the quarter, compared to the consensus estimate of $794.65 million. During the same quarter in the prior year, the firm earned $1.04 earnings per share. The business’s quarterly revenue was up 8.3% on a year-over-year basis. equities analysts forecast that Regal Beloit Corp will post 5.58 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Thursday, March 29th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend is Wednesday, March 28th. Regal Beloit’s payout ratio is presently 22.03%.
A number of equities research analysts recently weighed in on the stock. Seaport Global Securities raised shares of Regal Beloit from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $82.00 to $88.00 in a research note on Wednesday, February 7th. Zacks Investment Research downgraded shares of Regal Beloit from a “buy” rating to a “hold” rating in a research note on Tuesday, January 9th. Barclays assumed coverage on shares of Regal Beloit in a research note on Thursday, February 15th. They set an “equal weight” rating and a $80.00 price target for the company. ValuEngine raised shares of Regal Beloit from a “hold” rating to a “buy” rating in a research note on Tuesday, December 19th. Finally, Barrington Research reissued an “outperform” rating and set a $87.00 price target on shares of Regal Beloit in a research note on Monday, February 12th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $86.08.
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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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