Regal Rexnord Co. (NYSE:RRX) Shares Bought by Polianta Ltd

Polianta Ltd boosted its holdings in Regal Rexnord Co. (NYSE:RRX - Free Report) by 33.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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.

Several other large investors have also recently added to or reduced their stakes in RRX. Skandinaviska Enskilda Banken AB publ boosted its holdings in Regal Rexnord by 472.4% in the fourth 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. purchased a new position in shares of Regal Rexnord in the 4th quarter worth about $30,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Regal Rexnord in the 4th quarter valued at about $33,000. Jones Financial Companies Lllp grew its holdings in shares of 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. Finally, Smartleaf Asset Management LLC grew its holdings in shares of Regal Rexnord by 45.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 337 shares of the company's stock worth $52,000 after purchasing an additional 105 shares during the period. 99.72% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. The Goldman Sachs Group reduced their price target on shares of Regal Rexnord from $183.00 to $163.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Citigroup raised their target price 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. Robert W. Baird upped their price target on shares of Regal Rexnord from $167.00 to $172.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Wall Street Zen upgraded Regal Rexnord from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd. Finally, KeyCorp cut their price objective on Regal Rexnord from $180.00 to $125.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $171.25.

Insider Transactions at Regal Rexnord

In related news, CEO Louis V. Pinkham sold 10,593 shares of the company's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $140.33, for a total value of $1,486,515.69. Following 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.82% of the company's stock.

Regal Rexnord Stock Down 2.9%

RRX traded down $4.05 during trading hours on Friday, reaching $137.62. 562,231 shares of the stock traded hands, compared to its average volume of 580,712. Regal Rexnord Co. has a fifty-two week low of $90.56 and a fifty-two week high of $185.28. The company has a market cap of $9.13 billion, a price-to-earnings ratio of 46.65, a PEG ratio of 1.37 and a beta of 1.16. 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's fifty day simple moving average is $123.09 and its two-hundred day simple moving average is $136.81.

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 for the quarter, beating analysts' consensus estimates of $1.82 by $0.33. Regal Rexnord had a net margin of 3.25% and a return on equity of 9.57%. The company had revenue of $1.42 billion during the quarter, compared to analysts' expectations of $1.38 billion. During the same period in the prior year, the company posted $2.00 EPS. The firm's revenue for the quarter was down 8.4% on a year-over-year basis. As a group, analysts forecast that Regal Rexnord Co. will post 9.95 earnings per share 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. Stockholders of record on Monday, June 30th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.02%. The ex-dividend date is Monday, June 30th. Regal Rexnord's dividend payout ratio (DPR) is currently 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.