Regal Rexnord Corporation (NYSE:RRX) Shares Sold by KBC Group NV

KBC Group NV trimmed its holdings in shares of Regal Rexnord Corporation (NYSE:RRX - Free Report) by 87.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,889 shares of the company's stock after selling 19,310 shares during the period. KBC Group NV's holdings in Regal Rexnord were worth $329,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of RRX. Smartleaf Asset Management LLC lifted its holdings in Regal Rexnord by 45.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 337 shares of the company's stock worth $52,000 after buying an additional 105 shares during the last quarter. Jones Financial Companies Lllp increased its position in shares of Regal Rexnord by 90.5% during the fourth quarter. Jones Financial Companies Lllp now owns 322 shares of the company's stock worth $50,000 after purchasing an additional 153 shares in the last quarter. Steward Partners Investment Advisory LLC increased its position in shares of Regal Rexnord by 335.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 622 shares of the company's stock worth $97,000 after purchasing an additional 479 shares in the last quarter. Atria Investments Inc increased its position in shares of Regal Rexnord by 48.9% during the fourth quarter. Atria Investments Inc now owns 2,310 shares of the company's stock worth $358,000 after purchasing an additional 759 shares in the last quarter. Finally, M&T Bank Corp increased its position in shares of Regal Rexnord by 5.3% during the fourth quarter. M&T Bank Corp now owns 3,449 shares of the company's stock worth $535,000 after purchasing an additional 175 shares in the last quarter. 99.72% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Regal Rexnord

In other Regal Rexnord news, CEO Louis V. Pinkham sold 10,593 shares of the stock in a transaction on Thursday, May 15th. The stock was 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 of the company's stock, valued at $24,691,624.82. This represents a 5.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.82% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

RRX has been the topic of a number of research analyst reports. The Goldman Sachs Group cut their target price on Regal Rexnord from $183.00 to $163.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Citigroup restated a "buy" rating and issued a $165.00 price target (up previously from $145.00) on shares of Regal Rexnord in a research report on Tuesday, June 24th. Robert W. Baird boosted their price target on Regal Rexnord from $167.00 to $172.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. KeyCorp set a $180.00 price target on Regal Rexnord and gave the company an "overweight" rating in a research report on Thursday, June 26th. Finally, Wall Street Zen upgraded Regal Rexnord from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $180.63.

Regal Rexnord Price Performance

RRX stock traded down $0.07 on Friday, reaching $151.70. The company had a trading volume of 585,581 shares, compared to its average volume of 595,214. Regal Rexnord Corporation has a 1 year low of $90.56 and a 1 year high of $185.28. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.21 and a current ratio of 2.26. The company's fifty day moving average is $136.32 and its 200 day moving average is $134.04. The company has a market cap of $10.06 billion, a P/E ratio of 43.22, a PEG ratio of 1.54 and a beta of 1.17.

Regal Rexnord (NYSE:RRX - Get Free Report) last posted 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. Regal Rexnord had a return on equity of 9.67% and a net margin of 3.96%. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the prior year, the company earned $2.00 EPS. Regal Rexnord's revenue was down 8.4% on a year-over-year basis. On average, research analysts forecast that Regal Rexnord Corporation will post 9.95 earnings per share for the current 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 paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend is Monday, June 30th. Regal Rexnord's dividend payout ratio is presently 39.89%.

Regal Rexnord Company Profile

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.