-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 NSt8OIMG5pzAgdh+DpEyqop8x53mDx4vOeETByIK9og5r0QvW1173Yy4lzOCjXGo
 p/WvAoiYq0012hwZ7M7O9g==

<SEC-DOCUMENT>0001005477-03-003649.txt : 20030902
<SEC-HEADER>0001005477-03-003649.hdr.sgml : 20030901
<ACCEPTANCE-DATETIME>20030902172638
ACCESSION NUMBER:		0001005477-03-003649
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030829
FILED AS OF DATE:		20030902

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BALDOR ELECTRIC CO
		CENTRAL INDEX KEY:			0000009342
		STANDARD INDUSTRIAL CLASSIFICATION:	MOTORS & GENERATORS [3621]
		IRS NUMBER:				430168840
		STATE OF INCORPORATION:			MO
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		5711 R S BOREHAM JR ST
		STREET 2:		P O BOX 2400
		CITY:			FORT SMITH
		STATE:			AR
		ZIP:			72902-2400
		BUSINESS PHONE:		5016464711

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			BREAUX RANDALL P
		CENTRAL INDEX KEY:			0001229987

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-07284
		FILM NUMBER:		03877021

	MAIL ADDRESS:	
		STREET 1:		5711 R S BOREHAM JR ST
		STREET 2:		P O BOX 2400
		CITY:			FORT SMITH
		STATE:			AR
		ZIP:			72902
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar123.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>
    <periodOfReport>2003-08-29</periodOfReport>
    <notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000009342</issuerCik>
        <issuerName>BALDOR ELECTRIC CO</issuerName>
        <issuerTradingSymbol>BEZ</issuerTradingSymbol>
    </issuer>

    <reportingOwner>

        <reportingOwnerId>
            <rptOwnerCik>0001229987</rptOwnerCik>
            <rptOwnerName>BREAUX RANDALL P</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>5711 R S BOREHAM JR ST</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>FORT SMITH</rptOwnerCity>
            <rptOwnerState>AR</rptOwnerState>
            <rptOwnerZipCode>72901</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
        <isDirector>0</isDirector>
        <isOfficer>1</isOfficer>
        <isTenPercentOwner>0</isTenPercentOwner>
        <isOther>0</isOther>
        <officerTitle>VP - Marketing</officerTitle>
    </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>

        <securityTitle>
            <value>Common stock</value>
        </securityTitle>

        <transactionDate>
            <value>2003-08-29</value>
        </transactionDate>
    <transactionCoding>
        <transactionFormType>4</transactionFormType>
        <transactionCode>F</transactionCode>
        <equitySwapInvolved>0</equitySwapInvolved>
    </transactionCoding>
        <transactionAmounts>

            <transactionShares>
                <value>904</value>
            </transactionShares>

            <transactionPricePerShare>
                <value>22.45</value>
            </transactionPricePerShare>

            <transactionAcquiredDisposedCode>
                <value>D</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <postTransactionAmounts>

            <sharesOwnedFollowingTransaction>
                <value>5413</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>

            <directOrIndirectOwnership>
                <value>D</value>
            </directOrIndirectOwnership>
        </ownershipNature>
        </nonDerivativeTransaction>

        <nonDerivativeTransaction>

        <securityTitle>
            <value>Common stock</value>
        </securityTitle>

        <transactionDate>
            <value>2003-08-29</value>
        </transactionDate>
    <transactionCoding>
        <transactionFormType>4</transactionFormType>
        <transactionCode>M</transactionCode>
        <equitySwapInvolved>0</equitySwapInvolved>
    </transactionCoding>
        <transactionAmounts>

            <transactionShares>
                <value>1600</value>
            </transactionShares>

            <transactionPricePerShare>
                <value>12.6875</value>
            </transactionPricePerShare>

            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <postTransactionAmounts>

            <sharesOwnedFollowingTransaction>
                <value>7013</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>

            <directOrIndirectOwnership>
                <value>D</value>
            </directOrIndirectOwnership>
        </ownershipNature>
        </nonDerivativeTransaction>

        <nonDerivativeTransaction>

        <securityTitle>
            <value>Common stock</value>
        </securityTitle>

        <transactionDate>
            <value>2003-08-29</value>
        </transactionDate>
    <transactionCoding>
        <transactionFormType>5</transactionFormType>
        <transactionCode>J</transactionCode>
        <equitySwapInvolved>0</equitySwapInvolved>
    </transactionCoding>
        <transactionAmounts>

            <transactionShares>
                <value>0</value>
            </transactionShares>

            <transactionPricePerShare>
                <value>0</value>
            </transactionPricePerShare>

            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <postTransactionAmounts>

            <sharesOwnedFollowingTransaction>
                <value>756</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>

            <directOrIndirectOwnership>
                <value>I</value>
            </directOrIndirectOwnership>

            <natureOfOwnership>
                <value>Qualified benefit plans</value>
                <footnoteId id="F1"/>
            </natureOfOwnership>
        </ownershipNature>
        </nonDerivativeTransaction>

    </nonDerivativeTable>
    <derivativeTable>
        <derivativeTransaction>

        <securityTitle>
            <value>Employee stock option</value>
        </securityTitle>

        <conversionOrExercisePrice>
            <value>12.6875</value>
        </conversionOrExercisePrice>

        <transactionDate>
            <value>2003-08-29</value>
        </transactionDate>
    <transactionCoding>
        <transactionFormType>4</transactionFormType>
        <transactionCode>M</transactionCode>
        <equitySwapInvolved>0</equitySwapInvolved>
    </transactionCoding>
        <transactionAmounts>

            <transactionShares>
                <value>1600</value>
            </transactionShares>

            <transactionPricePerShare>
                <value>0</value>
            </transactionPricePerShare>

            <transactionAcquiredDisposedCode>
                <value>D</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>

        <exerciseDate>
            <value>1997-02-06</value>
        </exerciseDate>

        <expirationDate>
            <value>2004-02-06</value>
        </expirationDate>
        <underlyingSecurity>

            <underlyingSecurityTitle>
                <value>Common stock</value>
            </underlyingSecurityTitle>

            <underlyingSecurityShares>
                <value>1600</value>
            </underlyingSecurityShares>
        </underlyingSecurity>
        <postTransactionAmounts>

            <sharesOwnedFollowingTransaction>
                <value>0</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>

            <directOrIndirectOwnership>
                <value>D</value>
            </directOrIndirectOwnership>
        </ownershipNature>
        </derivativeTransaction>

    </derivativeTable>
    <footnotes>
        <footnote id="F1">Shares allocated in qualified benefit plans as of 8/29/03.  Includes 53 shares acquired and 1 share disposed.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Randall P. Breaux</signatureName>
        <signatureDate>2003-08-29</signatureDate>
    </ownerSignature>

</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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