Leeward Investments LLC MA Lowers Position in Regal Rexnord Corporation (NYSE:RRX)

Leeward Investments LLC MA reduced its holdings in shares of Regal Rexnord Corporation (NYSE:RRX - Free Report) by 3.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 191,278 shares of the company's stock after selling 7,643 shares during the period. Regal Rexnord accounts for approximately 1.2% of Leeward Investments LLC MA's investment portfolio, making the stock its 16th biggest holding. Leeward Investments LLC MA owned approximately 0.29% of Regal Rexnord worth $21,777,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Skandinaviska Enskilda Banken AB publ lifted its position 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 acquiring an additional 137 shares during the period. Bernard Wealth Management Corp. bought a new stake in Regal Rexnord in the 4th quarter valued at about $30,000. Golden State Wealth Management LLC lifted its holdings in shares of Regal Rexnord by 106.2% in the 1st quarter. Golden State Wealth Management LLC now owns 268 shares of the company's stock worth $31,000 after purchasing an additional 138 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of Regal Rexnord in the 4th quarter worth $33,000. Finally, Jones Financial Companies Lllp lifted its holdings in shares of Regal Rexnord by 90.5% in the 4th 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. 99.72% of the stock is currently owned by institutional investors.

Regal Rexnord Stock Performance

RRX stock traded down $0.07 during midday trading on Friday, hitting $151.70. The company's stock had a trading volume of 585,581 shares, compared to its average volume of 593,927. The stock has a market cap of $10.06 billion, a price-to-earnings ratio of 43.22, a PEG ratio of 1.54 and a beta of 1.17. 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's 50-day moving average price is $136.32 and its 200 day moving average price is $134.20. Regal Rexnord Corporation has a 1 year low of $90.56 and a 1 year high of $185.28.

Regal Rexnord (NYSE:RRX - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported $2.15 earnings per share for the quarter, topping analysts' consensus estimates of $1.82 by $0.33. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate 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 previous year, the firm earned $2.00 EPS. On average, equities analysts forecast that Regal Rexnord Corporation will post 9.95 EPS for the current year.

Regal Rexnord Dividend Announcement

The firm 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. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.40 dividend on an annualized basis and a yield of 0.92%. Regal Rexnord's dividend payout ratio is 39.89%.

Analyst Ratings Changes

A number of research firms have weighed in on RRX. Citigroup reaffirmed a "buy" rating and issued a $165.00 price objective (up from $145.00) on shares of Regal Rexnord in a research note on Tuesday, June 24th. KeyCorp set a $180.00 price target on Regal Rexnord and gave the company an "overweight" rating in a research note on Thursday, June 26th. Wall Street Zen raised Regal Rexnord from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd. Robert W. Baird raised their target price on Regal Rexnord from $167.00 to $172.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. Finally, Barclays lifted their target price on Regal Rexnord from $155.00 to $160.00 and gave the company an "overweight" rating in a research report on Monday, May 12th. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $180.63.

Insider Transactions at Regal Rexnord

In other news, CEO Louis V. Pinkham sold 10,593 shares of the firm's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $140.33, for a total value of $1,486,515.69. Following the completion of the transaction, the chief executive officer directly owned 175,954 shares of the company's stock, valued at $24,691,624.82. This trade represents a 5.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.82% of the stock is owned by insiders.

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.