Regal Beloit Corporation (NYSE:RBC) has been the object of insider buying and selling activity recently. Director Henry W. Knueppel let go of 20,000 shares at an average price of $85.00 on Wed the 12th. That brings Knueppel’s holdings to $7,482,088 per an SEC filing yesterday. Director Henry W. Knueppel sold 10,000 shares at an average price of $82.00 on June 2nd. Knueppel now owns $8,858,014 of stock as reported to the SEC.
Henry W. Knueppel, Director purchased $293,040 worth of shares at an average price of $80.00 on Tue the 23rd. The Director now owns $0 of the stock as recorded in a recent Form 4 SEC filing.
Regal Beloit Corporation, launched on March 2, 1994, 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. It sells its products directly to original equipment manufacturers (OEMs), distributors and end users. It operates distribution facilities in Plainfield, Indiana; McAllen, Texas; LaVergne, Tennessee, and Florence, Kentucky, which serve as hubs for its North American distribution and logistics operations..
These firms have also modified their investment in RBC. Creative Planning downsized its holdings by shedding 150 shares a decrease of 13.2% from 03/31/2017 to 06/30/2017. Creative Planning owns 988 shares with a value of $81,000. The total value of its holdings decreased 5.8%. As of the end of the quarter Capstone Asset Management Co had sold 100 shares trimming its stake by 1.5%. The value of the company’s investment in Regal Beloit Corporation increased from $490,000 to $520,000 increasing 6.1% quarter over quarter.
Proficio Capital Partners LLC added to its investment by buying 53 shares an increase of 311.8% in the quarter. Proficio Capital Partners LLC now controls 70 shares valued at $6,000. The value of the position overall is up by 500.0%. Morgan Stanley grew its stake by buying 16 shares an increase of 10.1%. Morgan Stanley now holds 174 shares worth $13,000. The total value of its holdings increased 18.2%.
On July 11 analysts at Wolfe Research starting coverage on RBC giving it an initial rating of “Equal-Weight”. On September 27 the company was downgraded from “Accumulate” to “Neutral” in a statement from Seaport Global.
On May 11, 2016 the stock rating was changed to a “Sector Weight” by Morgan Stanley down from the previous “Overweight” rating. On May 10 the company was rated “Sector Weight” according to a KeyBanc report which is down from the previous “Overweight” rating.
On April 28 the stock rating was downgraded to “Sell” from “Neutral” with a current price target of $62.00 by Goldman Sachs. Goldman Sachs downgraded the stock and lowered the price target on April 28 cutting the price target from $83.00 to $62.00 and cutting the rating from “Neutral” to “Sell”.
The company is trading down by -0.41% since yesterday’s close of $84.55. Additionally Regal Beloit Corporation recently announced a dividend that will be paid on Friday July 14th, 2017. The dividend payment will be $0.260 per share for the quarter or $1.04 on an annualized basis. The dividend yield will be $1.25. The ex-dividend date will be on Wednesday the 28th of June 2017.
The stock is trading at $84.20 just a bit higher than $80.02, the 50 day moving average and barely above the 200 day moving average of $75.83. The 50 day moving average was up $4.18 and the 200 day average was up $8.37.
Regal Beloit Corporation’s P/E ratio is 18.26 and the market value is 3.77B. As of the latest earnings report the EPS was $4.61 and is expected to be $4.83 for the current year with 44,809,000 shares presently outstanding. Analysts expect next quarter’s EPS to be $1.40 and the next full year EPS is anticipated to be $5.30.