19,422 Shares in Regal Rexnord Corporation (NYSE:RRX) Acquired by Regents Gate Capital LLP

Regents Gate Capital LLP bought a new stake in Regal Rexnord Corporation (NYSE:RRX - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 19,422 shares of the company's stock, valued at approximately $2,211,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Skandinaviska Enskilda Banken AB publ boosted its stake in shares of Regal Rexnord by 472.4% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company's stock worth $25,000 after acquiring an additional 137 shares during the period. Bernard Wealth Management Corp. purchased a new position in Regal Rexnord during the 4th quarter worth $30,000. Golden State Wealth Management LLC grew its stake in Regal Rexnord by 106.2% during the 1st quarter. Golden State Wealth Management LLC now owns 268 shares of the company's stock worth $31,000 after buying an additional 138 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new position in Regal Rexnord during the 4th quarter worth $33,000. Finally, Jones Financial Companies Lllp lifted its position in Regal Rexnord by 90.5% during the 4th quarter. Jones Financial Companies Lllp now owns 322 shares of the company's stock worth $50,000 after acquiring an additional 153 shares during the period. 99.72% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Regal Rexnord

In related news, CEO Louis V. Pinkham sold 10,593 shares of Regal Rexnord stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $140.33, for a total transaction of $1,486,515.69. Following the transaction, the chief executive officer owned 175,954 shares in the company, valued at approximately $24,691,624.82. The trade was a 5.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.82% of the company's stock.

Regal Rexnord Trading Up 0.4%

Shares of RRX opened at $149.67 on Wednesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.26 and a quick ratio of 1.21. The firm has a 50 day simple moving average of $138.03 and a 200-day simple moving average of $133.95. Regal Rexnord Corporation has a 1-year low of $90.56 and a 1-year high of $185.28. The stock has a market cap of $9.93 billion, a price-to-earnings ratio of 42.64, a price-to-earnings-growth ratio of 1.51 and a beta of 1.17.

Regal Rexnord (NYSE:RRX - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.33. Regal Rexnord had a net margin of 3.96% and a return on equity of 9.67%. The company had revenue of $1.42 billion during the quarter, compared to analysts' expectations of $1.38 billion. During the same period in the previous year, the company earned $2.00 EPS. The business's quarterly revenue was down 8.4% compared to the same quarter last year. Equities analysts forecast that Regal Rexnord Corporation will post 9.95 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 14th. Investors of record on Monday, June 30th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.40 annualized dividend and a dividend yield of 0.94%. Regal Rexnord's payout ratio is 39.89%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on RRX shares. The Goldman Sachs Group lifted their price target on Regal Rexnord from $173.00 to $195.00 and gave the company a "buy" rating in a research note on Tuesday. Citigroup restated a "buy" rating and set a $165.00 price target (up from $145.00) on shares of Regal Rexnord in a research note on Tuesday, June 24th. Robert W. Baird increased their price objective on Regal Rexnord from $167.00 to $172.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Barclays increased their target price on Regal Rexnord from $155.00 to $160.00 and gave the company an "overweight" rating in a report on Monday, May 12th. Finally, Wall Street Zen raised Regal Rexnord from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Regal Rexnord currently has a consensus rating of "Buy" and a consensus price target of $184.63.

About Regal Rexnord

Regal Rexnord Corporation manufactures and sells industrial powertrain solutions, power transmission components, electric motors and electronic controls, air moving products, and specialty electrical components and systems worldwide. The Industrial Powertrain Solutions segment provides mounted and unmounted bearings, couplings, mechanical power transmission drives and components, gearboxes, gear motors, clutches, brakes, special, and industrial powertrain components and solutions for food and beverage, bulk material handling, eCommerce/warehouse distribution, energy, mining, marine, agricultural machinery, turf and garden, and general industrial markets.

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