Regal Rexnord Corporation (NYSE:RRX) Stock Holdings Lowered by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its holdings in shares of Regal Rexnord Corporation (NYSE:RRX - Free Report) by 2.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 661,621 shares of the company's stock after selling 17,876 shares during the period. Principal Financial Group Inc. owned about 1.00% of Regal Rexnord worth $75,326,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ increased its holdings in Regal Rexnord by 472.4% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company's stock valued at $25,000 after buying an additional 137 shares during the last quarter. Bernard Wealth Management Corp. purchased a new position in Regal Rexnord during the fourth quarter valued at $30,000. Golden State Wealth Management LLC grew its stake in Regal Rexnord by 106.2% during the first quarter. Golden State Wealth Management LLC now owns 268 shares of the company's stock valued at $31,000 after acquiring an additional 138 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in Regal Rexnord during the fourth quarter valued at $33,000. Finally, Jones Financial Companies Lllp lifted its position in Regal Rexnord by 90.5% during 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. Institutional investors own 99.72% of the company's stock.

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 dated Thursday, May 15th. The shares were 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 directly owned 175,954 shares in the company, valued at approximately $24,691,624.82. This trade represents a 5.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.82% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in 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. The Goldman Sachs Group lifted their price objective on shares of Regal Rexnord from $173.00 to $195.00 and gave the stock a "buy" rating in a research report on Tuesday. Citigroup reaffirmed a "buy" rating and issued a $165.00 price objective (up previously from $145.00) on shares of Regal Rexnord in a research report on Tuesday, June 24th. Robert W. Baird lifted their price target on Regal Rexnord from $167.00 to $172.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Finally, Barclays lifted their price objective on shares of Regal Rexnord from $160.00 to $165.00 and gave the company an "overweight" rating in a research note on Wednesday. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $185.25.

Regal Rexnord Trading Up 0.3%

Shares of RRX traded up $0.43 during mid-day trading on Wednesday, reaching $149.95. The stock had a trading volume of 404,134 shares, compared to its average volume of 596,784. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.26 and a quick ratio of 1.21. Regal Rexnord Corporation has a 52-week low of $90.56 and a 52-week high of $185.28. The business's fifty day moving average is $138.03 and its 200 day moving average is $133.95. The firm has a market cap of $9.95 billion, a price-to-earnings ratio of 42.72, a P/E/G ratio of 1.51 and a beta of 1.17.

Regal Rexnord (NYSE:RRX - Get Free Report) last released its earnings results 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 company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.38 billion. Regal Rexnord had a net margin of 3.96% and a return on equity of 9.67%. The firm's quarterly revenue was down 8.4% on a year-over-year basis. During the same period in the prior year, the business earned $2.00 EPS. On average, sell-side analysts predict that Regal Rexnord Corporation will post 9.95 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 14th. Investors of record on Monday, June 30th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.93%. The ex-dividend date is Monday, June 30th. Regal Rexnord's dividend payout ratio (DPR) 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.