Natixis Advisors LLC Trims Stock Position in Regal Rexnord Corporation (NYSE:RRX)

Natixis Advisors LLC cut its holdings in shares of Regal Rexnord Corporation (NYSE:RRX - Free Report) by 17.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 73,861 shares of the company's stock after selling 15,745 shares during the quarter. Natixis Advisors LLC owned about 0.11% of Regal Rexnord worth $8,409,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Jefferies Financial Group Inc. purchased a new position in Regal Rexnord during the fourth quarter worth about $1,427,000. Polar Asset Management Partners Inc. purchased a new position in shares of Regal Rexnord in the 4th quarter worth about $9,463,000. Pinebridge Investments L.P. raised its holdings in shares of Regal Rexnord by 42.7% in the 4th quarter. Pinebridge Investments L.P. now owns 19,024 shares of the company's stock worth $2,951,000 after purchasing an additional 5,693 shares during the period. Polianta Ltd raised its holdings in shares of Regal Rexnord by 33.8% in the 1st quarter. Polianta Ltd now owns 9,100 shares of the company's stock worth $1,036,000 after purchasing an additional 2,300 shares during the period. Finally, Ritholtz Wealth Management raised its holdings in shares of Regal Rexnord by 22.5% in the 1st quarter. Ritholtz Wealth Management now owns 1,979 shares of the company's stock worth $225,000 after purchasing an additional 363 shares during the period. 99.72% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Regal Rexnord news, CEO Louis V. Pinkham sold 10,593 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 175,954 shares in the company, valued at $24,691,624.82. This trade represents a 5.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.82% of the stock is currently owned by company insiders.

Regal Rexnord Stock Performance

Shares of NYSE:RRX opened at $147.20 on Tuesday. The company has a market cap of $9.77 billion, a P/E ratio of 41.94, a PEG ratio of 1.51 and a beta of 1.18. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.21 and a current ratio of 2.26. Regal Rexnord Corporation has a one year low of $90.56 and a one year high of $185.28. The business's 50-day simple moving average is $145.81 and its 200 day simple moving average is $133.22.

Regal Rexnord (NYSE:RRX - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $2.15 earnings per share 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 during the quarter, compared to analyst estimates of $1.38 billion. During the same quarter last year, the firm earned $2.00 EPS. Regal Rexnord's quarterly revenue was down 8.4% on a year-over-year basis. On average, sell-side analysts forecast that Regal Rexnord Corporation will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 14th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Tuesday, September 30th. Regal Rexnord's dividend payout ratio (DPR) is 39.89%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Barclays raised their price objective on Regal Rexnord from $160.00 to $165.00 and gave the stock an "overweight" rating in a report on Wednesday, July 9th. Robert W. Baird raised their price objective on Regal Rexnord from $167.00 to $172.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Citigroup restated a "buy" rating and issued a $165.00 price objective (up from $145.00) on shares of Regal Rexnord in a report on Tuesday, June 24th. Wall Street Zen upgraded Regal Rexnord from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd. Finally, The Goldman Sachs Group raised their price objective on Regal Rexnord from $173.00 to $195.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Regal Rexnord currently has a consensus rating of "Buy" and an average target price of $185.25.

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.

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