Kennedy Capital Management Inc. boosted its stake in Regal Beloit Corporation (NYSE:RBC) by 94.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 364,485 shares of the industrial products company’s stock after purchasing an additional 177,243 shares during the quarter. Regal Beloit Corporation comprises approximately 0.6% of Kennedy Capital Management Inc.’s holdings, making the stock its 7th largest holding. Kennedy Capital Management Inc. owned 0.81% of Regal Beloit Corporation worth $29,724,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Goldman Sachs Group Inc. lifted its stake in Regal Beloit Corporation by 2.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 476,010 shares of the industrial products company’s stock worth $36,010,000 after purchasing an additional 12,329 shares in the last quarter. Macquarie Group Ltd. lifted its stake in Regal Beloit Corporation by 0.6% in the 1st quarter. Macquarie Group Ltd. now owns 387,018 shares of the industrial products company’s stock worth $29,278,000 after purchasing an additional 2,216 shares in the last quarter. Prudential Financial Inc. lifted its stake in Regal Beloit Corporation by 1.8% in the 2nd quarter. Prudential Financial Inc. now owns 566,099 shares of the industrial products company’s stock worth $46,165,000 after purchasing an additional 10,131 shares in the last quarter. Gotham Asset Management LLC lifted its stake in Regal Beloit Corporation by 56.3% in the 1st quarter. Gotham Asset Management LLC now owns 231,875 shares of the industrial products company’s stock worth $17,541,000 after purchasing an additional 83,548 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in Regal Beloit Corporation by 3.8% in the 1st quarter. First Trust Advisors LP now owns 353,803 shares of the industrial products company’s stock worth $26,765,000 after purchasing an additional 12,839 shares in the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.

In other Regal Beloit Corporation news, Director Henry W. Knueppel sold 20,000 shares of Regal Beloit Corporation stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $85.00, for a total transaction of $1,700,000.00. Following the transaction, the director now directly owns 3,726 shares of the company’s stock, valued at $316,710. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.20% of the stock is owned by insiders.

Shares of Regal Beloit Corporation (NYSE RBC) traded up 0.34% during mid-day trading on Wednesday, hitting $74.30. 20,067 shares of the stock traded hands. Regal Beloit Corporation has a 12 month low of $56.45 and a 12 month high of $87.50. The firm has a 50 day moving average of $79.86 and a 200 day moving average of $78.68. The company has a market cap of $3.31 billion, a P/E ratio of 16.40 and a beta of 1.52.

Regal Beloit Corporation (NYSE:RBC) last posted its quarterly earnings results on Monday, August 7th. The industrial products company reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $869.20 million for the quarter, compared to analyst estimates of $854.66 million. During the same period in the previous year, the business posted $1.14 earnings per share. Regal Beloit Corporation’s quarterly revenue was up 3.6% on a year-over-year basis. Equities analysts anticipate that Regal Beloit Corporation will post $4.86 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date is Thursday, September 28th. Regal Beloit Corporation’s dividend payout ratio (DPR) is presently 22.96%.

Several analysts have commented on RBC shares. Zacks Investment Research cut shares of Regal Beloit Corporation from a “buy” rating to a “hold” rating in a research note on Monday, June 5th. Credit Suisse Group reiterated a “buy” rating and issued a $88.00 price target on shares of Regal Beloit Corporation in a research note on Thursday, June 29th. Stifel Nicolaus reiterated a “hold” rating and issued a $85.00 price target on shares of Regal Beloit Corporation in a research note on Tuesday, August 22nd. BidaskClub upgraded shares of Regal Beloit Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, July 11th. Finally, Wolfe Research started coverage on shares of Regal Beloit Corporation in a research note on Tuesday, July 11th. They issued a “market perform” rating on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $83.00.

TRADEMARK VIOLATION NOTICE: This news story was posted by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are viewing this news story on another site, it was copied illegally and reposted in violation of United States & international copyright & trademark legislation. The original version of this news story can be viewed at https://theolympiareport.com/2017/09/06/regal-beloit-corporation-rbc-shares-bought-by-kennedy-capital-management-inc.html.

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.

Want to see what other hedge funds are holding RBC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Regal Beloit Corporation (NYSE:RBC).

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

Receive News & Ratings for Regal Beloit Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Regal Beloit Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.