NBC Securities Inc. Has $268,000 Stock Position in Regal Rexnord Co. (NYSE:RRX)

NBC Securities Inc. boosted its holdings in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) by 117,950.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,361 shares of the company's stock after purchasing an additional 2,359 shares during the quarter. NBC Securities Inc.'s holdings in Regal Rexnord were worth $268,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Skandinaviska Enskilda Banken AB publ increased its holdings in shares of Regal Rexnord by 472.4% in 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 last quarter. Bernard Wealth Management Corp. bought a new stake in shares of Regal Rexnord in the 4th quarter valued at approximately $30,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Regal Rexnord in the 4th quarter valued at approximately $33,000. Tobam bought a new stake in shares of Regal Rexnord in the 4th quarter valued at approximately $45,000. Finally, Jones Financial Companies Lllp increased 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 valued at $50,000 after acquiring an additional 153 shares during the last quarter. 99.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Louis V. Pinkham sold 10,593 shares of the company's 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 completion of the sale, the chief executive officer now directly owns 175,954 shares of the company's stock, valued at $24,691,624.82. This represents a 5.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.82% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on RRX. Wall Street Zen upgraded Regal Rexnord from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. The Goldman Sachs Group reduced their price objective on Regal Rexnord from $183.00 to $163.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Citigroup boosted their price objective on Regal Rexnord from $110.00 to $145.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Robert W. Baird boosted their price objective on Regal Rexnord from $167.00 to $172.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Finally, Barclays boosted their price objective on Regal Rexnord from $155.00 to $160.00 and gave the company an "overweight" rating in a research report on Monday, May 12th. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $171.25.

Regal Rexnord Price Performance

Shares of Regal Rexnord stock traded up $0.05 during trading on Wednesday, hitting $144.00. The stock had a trading volume of 655,127 shares, compared to its average volume of 581,141. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.26 and a quick ratio of 1.25. The firm has a market cap of $9.55 billion, a P/E ratio of 48.81, a PEG ratio of 1.37 and a beta of 1.16. The business has a fifty day moving average of $121.30 and a two-hundred day moving average of $137.33. Regal Rexnord Co. has a fifty-two week low of $90.56 and a fifty-two week high of $185.28.

Regal Rexnord (NYSE:RRX - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported $2.15 EPS for the quarter, beating the consensus estimate of $1.82 by $0.33. Regal Rexnord had a return on equity of 9.57% and a net margin of 3.25%. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the prior year, the business posted $2.00 earnings per share. Regal Rexnord's revenue was down 8.4% compared to the same quarter last year. On average, sell-side analysts expect that Regal Rexnord Co. will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 14th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.97%. The ex-dividend date is Monday, June 30th. Regal Rexnord's dividend payout ratio is 39.89%.

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.