Polianta Ltd Purchases 2,300 Shares of Regal Rexnord Co. (NYSE:RRX)

Polianta Ltd raised its stake in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) by 33.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,100 shares of the company's stock after purchasing an additional 2,300 shares during the quarter. Polianta Ltd's holdings in Regal Rexnord were worth $1,036,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ lifted its stake in Regal Rexnord by 472.4% in the fourth 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 last quarter. Bernard Wealth Management Corp. bought a new stake in Regal Rexnord in the fourth quarter valued at approximately $30,000. Aster Capital Management DIFC Ltd bought a new stake in Regal Rexnord in the fourth quarter valued at approximately $33,000. Jones Financial Companies Lllp lifted its position in Regal Rexnord by 90.5% in the fourth quarter. Jones Financial Companies Lllp now owns 322 shares of the company's stock valued at $50,000 after purchasing an additional 153 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in Regal Rexnord by 45.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 337 shares of the company's stock valued at $52,000 after purchasing an additional 105 shares during the last quarter. 99.72% of the stock is owned by institutional investors.

Insider Buying and Selling at Regal Rexnord

In related 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 transaction, the chief executive officer now owns 175,954 shares of the company's stock, valued at $24,691,624.82. This trade represents a 5.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.82% of the company's stock.

Regal Rexnord Stock Up 3.3%

Shares of NYSE:RRX traded up $4.51 during trading on Monday, hitting $142.20. The stock had a trading volume of 525,882 shares, compared to its average volume of 580,646. Regal Rexnord Co. has a 12 month low of $90.56 and a 12 month high of $185.28. The company has a market capitalization of $9.43 billion, a PE ratio of 48.20, a PEG ratio of 1.37 and a beta of 1.16. The firm's fifty day moving average is $124.06 and its 200 day moving average is $136.14. The company has a quick ratio of 1.25, a current ratio of 2.26 and a debt-to-equity ratio of 0.87.

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

Regal Rexnord Dividend Announcement

The firm also recently announced 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 0.98%. The ex-dividend date is Monday, June 30th. Regal Rexnord's dividend payout ratio is 39.89%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Wall Street Zen upgraded shares of Regal Rexnord from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd. Citigroup upped their price objective on shares of Regal Rexnord from $110.00 to $145.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. KeyCorp lowered their price objective on shares of Regal Rexnord from $180.00 to $125.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Robert W. Baird upped 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. Finally, The Goldman Sachs Group lowered their price target 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. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $171.25.

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.