Regal Rexnord Corporation (NYSE:RRX) Shares Sold by Leeward Investments LLC MA

Leeward Investments LLC MA lowered its position in Regal Rexnord Corporation (NYSE:RRX - Free Report) by 3.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 191,278 shares of the company's stock after selling 7,643 shares during the quarter. Regal Rexnord makes up about 1.2% of Leeward Investments LLC MA's portfolio, making the stock its 16th biggest position. Leeward Investments LLC MA owned approximately 0.29% of Regal Rexnord worth $21,777,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of RRX. Skandinaviska Enskilda Banken AB publ increased its holdings in Regal Rexnord by 472.4% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company's stock worth $25,000 after purchasing an additional 137 shares during the period. Bernard Wealth Management Corp. purchased a new position in Regal Rexnord during the 4th quarter worth $30,000. Golden State Wealth Management LLC increased its holdings in Regal Rexnord by 106.2% during 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 during the period. Aster Capital Management DIFC Ltd purchased a new position in Regal Rexnord during the 4th quarter worth $33,000. Finally, Jones Financial Companies Lllp increased its holdings in Regal Rexnord by 90.5% during 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 during the period. 99.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on RRX. KeyCorp set a $180.00 price objective on Regal Rexnord and gave the stock an "overweight" rating in a report on Thursday, June 26th. Wall Street Zen upgraded Regal Rexnord from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd. The Goldman Sachs Group cut 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. Barclays lifted their price target on Regal Rexnord from $155.00 to $160.00 and gave the company an "overweight" rating in a report on Monday, May 12th. Finally, Robert W. Baird lifted their price target on Regal Rexnord from $167.00 to $172.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $180.63.

Regal Rexnord Stock Down 1.7%

RRX stock traded down $2.59 on Monday, hitting $149.11. 582,125 shares of the company's stock were exchanged, compared to its average volume of 595,160. Regal Rexnord Corporation has a 12-month low of $90.56 and a 12-month high of $185.28. The firm has a 50 day moving average price of $136.32 and a two-hundred day moving average price of $133.89. 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 stock has a market cap of $9.89 billion, a P/E ratio of 42.48, a price-to-earnings-growth ratio of 1.54 and a beta of 1.17.

Regal Rexnord (NYSE:RRX - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported $2.15 earnings per share 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 firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the previous year, the business earned $2.00 EPS. The firm's revenue for the quarter was down 8.4% on a year-over-year basis. As a group, equities research analysts expect that Regal Rexnord Corporation will post 9.95 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 14th. Shareholders of record on Monday, June 30th will be given a dividend of $0.35 per share. 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 0.94%. Regal Rexnord's dividend payout ratio is currently 39.89%.

Insider Activity

In other news, CEO Louis V. Pinkham sold 10,593 shares of the business's stock in a transaction dated 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 owned 175,954 shares of the company's stock, valued at $24,691,624.82. The trade was a 5.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.82% of the stock is currently owned by company insiders.

Regal Rexnord 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.