Cigna Investments Inc. New Lowers Stake in Regal Beloit Corporation (RBC)

Cigna Investments Inc. New decreased its position in Regal Beloit Corporation (NYSE:RBC) by 7.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,982 shares of the industrial products company’s stock after selling 1,498 shares during the period. Cigna Investments Inc. New’s holdings in Regal Beloit Corporation were worth $1,471,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Tyers Asset Management LLC raised its position in shares of Regal Beloit Corporation by 47.7% in the first quarter. Tyers Asset Management LLC now owns 2,080 shares of the industrial products company’s stock worth $157,000 after buying an additional 672 shares during the period. Envestnet Asset Management Inc. raised its position in Regal Beloit Corporation by 5.6% in the first quarter. Envestnet Asset Management Inc. now owns 2,514 shares of the industrial products company’s stock valued at $191,000 after buying an additional 134 shares during the last quarter. World Asset Management Inc purchased a new position in Regal Beloit Corporation during the first quarter valued at about $207,000. Elkfork Partners LLC raised its position in Regal Beloit Corporation by 47.7% in the first quarter. Elkfork Partners LLC now owns 2,860 shares of the industrial products company’s stock valued at $216,000 after buying an additional 924 shares during the last quarter. Finally, Fox Run Management L.L.C. bought a new position in shares of Regal Beloit Corporation during the second quarter valued at $236,000. Institutional investors own 93.32% of the company’s stock.

Shares of Regal Beloit Corporation (NYSE:RBC) traded down 0.46% during trading on Friday, hitting $76.05. 317,824 shares of the stock were exchanged. Regal Beloit Corporation has a 52-week low of $56.45 and a 52-week high of $87.50. The stock has a market cap of $3.39 billion, a PE ratio of 16.79 and a beta of 1.52. The firm has a 50 day moving average of $82.65 and a 200-day moving average of $78.55.

Regal Beloit Corporation (NYSE:RBC) last released its quarterly earnings results on Monday, August 7th. The industrial products company reported $1.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.28 by $0.01. The company had revenue of $869.20 million for the quarter, compared to the consensus estimate of $854.66 million. Regal Beloit Corporation had a net margin of 6.29% and a return on equity of 9.88%. Regal Beloit Corporation’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.14 earnings per share. Equities research analysts anticipate that Regal Beloit Corporation will post $4.86 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Investors 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 1.37%. The ex-dividend date of this dividend is Thursday, September 28th. Regal Beloit Corporation’s payout ratio is 22.96%.

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RBC has been the topic of several research reports. Zacks Investment Research lowered shares of Regal Beloit Corporation from a “buy” rating to a “hold” rating in a report on Monday, June 5th. Credit Suisse Group reissued a “buy” rating and set a $88.00 target price on shares of Regal Beloit Corporation in a research report on Thursday, June 29th. BidaskClub raised shares of Regal Beloit Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, July 11th. CIBC raised shares of Regal Beloit Corporation from a “market perform” rating to an “outperform” rating in a research report on Friday, May 5th. Finally, Wolfe Research began coverage on shares of Regal Beloit Corporation in a research report on Tuesday, July 11th. They issued a “market perform” rating for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. Regal Beloit Corporation currently has an average rating of “Hold” and a consensus target price of $83.00.

In other Regal Beloit Corporation news, Director Henry W. Knueppel sold 20,000 shares of the business’s stock in a transaction on 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 owns 3,726 shares in the company, valued at $316,710. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Henry W. Knueppel sold 3,663 shares of the company’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $80.00, for a total transaction of $293,040.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 33,663 shares of company stock worth $2,813,040. 2.20% of the stock is owned by insiders.

Regal Beloit Corporation Company 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.

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

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