3,304 Shares in Regal Rexnord Corporation (NYSE:RRX) Bought by Institute for Wealth Management LLC.

Institute for Wealth Management LLC. bought a new stake in shares of Regal Rexnord Corporation (NYSE:RRX - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 3,304 shares of the company's stock, valued at approximately $376,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RRX. Skandinaviska Enskilda Banken AB publ raised its stake in shares of Regal Rexnord by 472.4% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company's stock valued at $25,000 after buying an additional 137 shares during the last quarter. Bernard Wealth Management Corp. purchased a new position in Regal Rexnord during the fourth quarter valued at approximately $30,000. Aster Capital Management DIFC Ltd purchased a new position in Regal Rexnord during the fourth quarter valued at approximately $33,000. Jones Financial Companies Lllp lifted its holdings in Regal Rexnord by 90.5% in the fourth quarter. Jones Financial Companies Lllp now owns 322 shares of the company's stock valued at $50,000 after acquiring an additional 153 shares during the period. Finally, Smartleaf Asset Management LLC boosted its position in Regal Rexnord by 45.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 337 shares of the company's stock worth $52,000 after purchasing an additional 105 shares in the last quarter. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on RRX. Barclays raised their price objective on shares of Regal Rexnord from $155.00 to $160.00 and gave the stock an "overweight" rating in a research note on Monday, May 12th. KeyCorp cut their price objective on shares of Regal Rexnord from $180.00 to $125.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Citigroup upped their price objective on shares of Regal Rexnord from $110.00 to $145.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Wall Street Zen upgraded Regal Rexnord from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. Finally, The Goldman Sachs Group cut their price target on Regal Rexnord from $183.00 to $163.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $171.25.

Insider Buying and Selling at Regal Rexnord

In other news, CEO Louis V. Pinkham sold 10,593 shares of the company's 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 completion of the sale, the chief executive officer now owns 175,954 shares of the company's stock, valued at $24,691,624.82. This represents a 5.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.82% of the stock is currently owned by insiders.

Regal Rexnord Stock Up 0.5%

Shares of NYSE RRX opened at $139.73 on Friday. The firm has a market cap of $9.27 billion, a price-to-earnings ratio of 39.81, a price-to-earnings-growth ratio of 1.43 and a beta of 1.16. The company's 50-day simple moving average is $126.21 and its 200-day simple moving average is $135.94. The company has a quick ratio of 1.21, a current ratio of 2.26 and a debt-to-equity ratio of 0.82. Regal Rexnord Corporation has a 52-week low of $90.56 and a 52-week high of $185.28.

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

Regal Rexnord Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 14th. Investors of record on Monday, June 30th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend is Monday, June 30th. Regal Rexnord's dividend payout ratio is currently 39.89%.

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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