Regal Beloit Corp (NYSE:RBC) COO Jonathan J. Schlemmer Sells 4,480 Shares of Stock

Regal Beloit Corp (NYSE:RBC) COO Jonathan J. Schlemmer sold 4,480 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $82.74, for a total value of $370,675.20. Following the completion of the transaction, the chief operating officer now owns 78,963 shares of the company’s stock, valued at $6,533,398.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

RBC opened at $83.59 on Friday. Regal Beloit Corp has a 12-month low of $66.04 and a 12-month high of $87.31. The stock has a market cap of $3.47 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 1.50 and a beta of 1.59. The business has a 50 day moving average of $73.88 and a 200-day moving average of $76.58. The company has a quick ratio of 1.61, a current ratio of 2.83 and a debt-to-equity ratio of 0.52.

Regal Beloit (NYSE:RBC) last released its quarterly earnings data on Monday, November 4th. The industrial products company reported $1.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.02. Regal Beloit had a return on equity of 10.14% and a net margin of 7.62%. The company had revenue of $772.30 million during the quarter, compared to analysts’ expectations of $808.49 million. During the same period last year, the firm posted $1.67 earnings per share. The business’s revenue was down 16.5% on a year-over-year basis. As a group, analysts expect that Regal Beloit Corp will post 5.49 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 27th will be given a $0.30 dividend. The ex-dividend date is Thursday, December 26th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.44%. Regal Beloit’s payout ratio is 20.00%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pearl River Capital LLC grew its position in Regal Beloit by 311.6% in the 2nd quarter. Pearl River Capital LLC now owns 354 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 268 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Regal Beloit during the second quarter worth about $34,000. North Star Investment Management Corp. purchased a new position in Regal Beloit during the third quarter worth about $35,000. Point72 Hong Kong Ltd raised its stake in Regal Beloit by 156.1% during the second quarter. Point72 Hong Kong Ltd now owns 1,688 shares of the industrial products company’s stock worth $138,000 after purchasing an additional 1,029 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Regal Beloit by 10.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,697 shares of the industrial products company’s stock worth $196,000 after purchasing an additional 261 shares during the period. 92.96% of the stock is owned by institutional investors.

RBC has been the subject of a number of analyst reports. Robert W. Baird raised their price target on Regal Beloit from $83.00 to $93.00 and gave the company an “outperform” rating in a research note on Tuesday. Goldman Sachs Group set a $80.00 price target on Regal Beloit and gave the company a “buy” rating in a research note on Wednesday, August 7th. Barclays raised their price target on Regal Beloit from $74.00 to $90.00 and gave the company an “equal weight” rating in a research note on Tuesday. Finally, Zacks Investment Research upgraded Regal Beloit from a “sell” rating to a “hold” rating and set a $81.00 price target for the company in a research note on Monday, August 5th. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $87.00.

Regal Beloit Company Profile

Regal Beloit Corporation, together with its subsidiaries, designs, manufactures, and sells electric motors, electrical motion controls, and power generation and transmission products worldwide. It operates through three segments: Commercial and Industrial Systems, Climate Solutions, and Power Transmission Solutions.

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