Hudson Edge Investment Partners Inc. raised its position in Regal Rexnord Corporation (NYSE:RRX - Free Report) by 45.1% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 6,951 shares of the company's stock after buying an additional 2,161 shares during the quarter. Hudson Edge Investment Partners Inc.'s holdings in Regal Rexnord were worth $791,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ increased its stake in shares of Regal Rexnord by 472.4% during 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. acquired a new position in shares of Regal Rexnord during the fourth quarter worth about $30,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Regal Rexnord during the fourth quarter worth about $33,000. Golden State Wealth Management LLC lifted its holdings in Regal Rexnord by 106.2% in the first quarter. Golden State Wealth Management LLC now owns 268 shares of the company's stock valued at $31,000 after acquiring an additional 138 shares during the period. Finally, 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. 99.72% of the stock is currently owned by institutional investors and hedge funds.
Regal Rexnord Price Performance
Shares of RRX traded down $0.07 during trading hours on Friday, reaching $151.70. 585,581 shares of the company traded hands, compared to its average volume of 595,214. The company has a quick ratio of 1.21, a current ratio of 2.26 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $10.06 billion, a PE ratio of 43.22, a price-to-earnings-growth ratio of 1.54 and a beta of 1.17. Regal Rexnord Corporation has a fifty-two week low of $90.56 and a fifty-two week high of $185.28. The stock has a fifty day simple moving average of $136.32 and a 200 day simple moving average of $133.89.
Regal Rexnord (NYSE:RRX - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $2.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.82 by $0.33. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.38 billion. Regal Rexnord had a net margin of 3.96% and a return on equity of 9.67%. The firm's quarterly revenue was down 8.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.00 EPS. As a group, research analysts predict that Regal Rexnord Corporation will post 9.95 EPS for the current fiscal year.
Regal Rexnord Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 14th. Shareholders of record on Monday, June 30th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.40 annualized dividend and a yield of 0.92%. Regal Rexnord's dividend payout ratio (DPR) is presently 39.89%.
Insiders Place Their Bets
In other news, CEO Louis V. Pinkham sold 10,593 shares of the stock in a transaction dated 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 directly owned 175,954 shares in the company, valued at $24,691,624.82. This represents a 5.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.82% of the company's stock.
Analyst Ratings Changes
RRX has been the topic of several research analyst reports. KeyCorp set a $180.00 target price on shares of Regal Rexnord and gave the stock an "overweight" rating in a research report on Thursday, June 26th. Robert W. Baird boosted their target price on shares of Regal Rexnord from $167.00 to $172.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Citigroup restated a "buy" rating and issued a $165.00 price target (up previously from $145.00) on shares of Regal Rexnord in a report on Tuesday, June 24th. Barclays upped their price target on Regal Rexnord from $155.00 to $160.00 and gave the stock an "overweight" rating in a report on Monday, May 12th. Finally, The Goldman Sachs Group lowered their price target on Regal Rexnord from $183.00 to $163.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $180.63.
Read Our Latest Analysis on RRX
About Regal Rexnord
(
Free Report)
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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