Dimensional Fund Advisors LP Sells 298,677 Shares of Regal Rexnord Corporation $RRX

Dimensional Fund Advisors LP lessened its position in Regal Rexnord Corporation (NYSE:RRX - Free Report) by 11.8% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 2,231,415 shares of the company's stock after selling 298,677 shares during the period. Dimensional Fund Advisors LP owned approximately 3.35% of Regal Rexnord worth $417,819,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Easterly Investment Partners LLC increased its holdings in Regal Rexnord by 719.4% during the 4th quarter. Easterly Investment Partners LLC now owns 75,354 shares of the company's stock worth $10,574,000 after purchasing an additional 66,158 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Regal Rexnord by 42.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,793 shares of the company's stock valued at $3,619,000 after purchasing an additional 7,647 shares in the last quarter. Vontobel Holding Ltd. lifted its holdings in shares of Regal Rexnord by 5.2% in the fourth quarter. Vontobel Holding Ltd. now owns 276,266 shares of the company's stock valued at $38,766,000 after purchasing an additional 13,564 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Regal Rexnord by 42.6% during the fourth quarter. Victory Capital Management Inc. now owns 5,658,365 shares of the company's stock valued at $793,983,000 after buying an additional 1,690,264 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH boosted its position in shares of Regal Rexnord by 65.1% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 158,582 shares of the company's stock valued at $22,252,000 after buying an additional 62,530 shares during the last quarter. Institutional investors own 99.72% of the company's stock.

Insider Activity at Regal Rexnord

In other Regal Rexnord news, CEO Louis V. Pinkham sold 22,509 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $211.68, for a total transaction of $4,764,705.12. Following the completion of the transaction, the chief executive officer directly owned 56,749 shares of the company's stock, valued at approximately $12,012,628.32. This represents a 28.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Robert Rehard sold 6,499 shares of the firm's stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $200.00, for a total value of $1,299,800.00. Following the completion of the sale, the chief financial officer directly owned 27,965 shares of the company's stock, valued at $5,593,000. This represents a 18.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 30,305 shares of company stock worth $6,341,869. Insiders own 0.63% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on RRX. DA Davidson initiated coverage on Regal Rexnord in a research report on Tuesday, June 16th. They issued a "buy" rating and a $260.00 price target for the company. UBS Group set a $260.00 price objective on shares of Regal Rexnord in a report on Monday, June 15th. Citigroup upped their target price on shares of Regal Rexnord from $240.00 to $260.00 and gave the stock a "buy" rating in a research note on Tuesday, July 14th. Wall Street Zen downgraded shares of Regal Rexnord from a "strong-buy" rating to a "buy" rating in a report on Saturday. Finally, KeyCorp raised their price target on shares of Regal Rexnord from $255.00 to $265.00 and gave the company an "overweight" rating in a research report on Thursday, May 7th. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $247.00.

Regal Rexnord Stock Performance

NYSE RRX opened at $205.69 on Tuesday. The company has a market capitalization of $13.69 billion, a PE ratio of 47.83, a price-to-earnings-growth ratio of 1.94 and a beta of 1.08. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.08 and a current ratio of 2.17. Regal Rexnord Corporation has a 52-week low of $127.96 and a 52-week high of $247.80. The company has a 50-day simple moving average of $211.65 and a 200 day simple moving average of $198.10.

Regal Rexnord (NYSE:RRX - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported $2.17 earnings per share for the quarter, beating analysts' consensus estimates of $2.11 by $0.06. Regal Rexnord had a net margin of 4.78% and a return on equity of 9.49%. The firm had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.43 billion. During the same period in the previous year, the company earned $2.15 earnings per share. The company's quarterly revenue was up 4.3% on a year-over-year basis. On average, research analysts predict that Regal Rexnord Corporation will post 10.64 EPS for the current year.

Regal Rexnord Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 14th. Investors of record on Tuesday, June 30th were paid a $0.35 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $1.40 annualized dividend and a yield of 0.7%. Regal Rexnord's dividend payout ratio is presently 32.56%.

About Regal Rexnord

Regal Rexnord Corporation NYSE: RRX is a global industrial manufacturer specializing in electric motors, power generation equipment and automated motion control systems. The company designs, engineers and produces a broad portfolio of products that includes energy-efficient electric motors, variable frequency drives, gearboxes, couplings, bearings and power transmission components. These offerings support critical applications in industries such as heating, ventilation and air conditioning (HVAC), refrigeration, data centers, water treatment, food and beverage processing, mining, oil and gas, and material handling.

The company's operations are organized into multiple business segments that address distinct customer needs.

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