Jonathan J. Schlemmer Sells 4,480 Shares of Regal Beloit Corp (NYSE:RBC) 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 transaction of $370,675.20. Following the transaction, the chief operating officer now owns 78,963 shares in the company, valued at approximately $6,533,398.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Regal Beloit stock opened at $83.59 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.61 and a current ratio of 2.83. The firm has a market cap of $3.47 billion, a price-to-earnings ratio of 13.93, a price-to-earnings-growth ratio of 1.50 and a beta of 1.59. Regal Beloit Corp has a 1 year low of $66.04 and a 1 year high of $87.31. The firm’s 50 day moving average price is $73.88 and its two-hundred day moving average price is $76.58.
Regal Beloit (NYSE:RBC) last posted its quarterly earnings results on Monday, November 4th. The industrial products company reported $1.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.02. The firm had revenue of $772.30 million for the quarter, compared to analyst estimates of $808.49 million. Regal Beloit had a net margin of 7.62% and a return on equity of 10.14%. The firm’s quarterly revenue was down 16.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.67 earnings per share. As a group, equities analysts predict that Regal Beloit Corp will post 5.49 EPS for the current fiscal year.
A number of research analysts recently commented on RBC shares. Goldman Sachs Group set a $80.00 price objective on shares of Regal Beloit and gave the company a “buy” rating in a research note on Wednesday, August 7th. Barclays raised their price objective on shares of Regal Beloit from $74.00 to $90.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Zacks Investment Research upgraded shares of Regal Beloit from a “sell” rating to a “hold” rating and set a $81.00 price objective on the stock in a research note on Monday, August 5th. Finally, Robert W. Baird raised their price objective on shares of Regal Beloit from $83.00 to $93.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $87.00.
Institutional investors have recently bought and sold shares of the business. Pearl River Capital LLC grew its position in Regal Beloit by 311.6% in the second quarter. Pearl River Capital LLC now owns 354 shares of the industrial products company’s stock worth $29,000 after buying an additional 268 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Regal Beloit in the second quarter worth approximately $34,000. North Star Investment Management Corp. acquired a new position in Regal Beloit in the third quarter worth approximately $35,000. Point72 Hong Kong Ltd grew its position in Regal Beloit by 156.1% in the second quarter. Point72 Hong Kong Ltd now owns 1,688 shares of the industrial products company’s stock worth $138,000 after buying an additional 1,029 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Regal Beloit by 10.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,697 shares of the industrial products company’s stock worth $196,000 after buying an additional 261 shares during the last quarter. Hedge funds and other institutional investors own 92.96% of the company’s stock.
About Regal Beloit
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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