Regal Rexnord Corporation (NYSE:RRX) Shares Sold by Yorktown Management & Research Co Inc

Yorktown Management & Research Co Inc lessened its position in Regal Rexnord Corporation (NYSE:RRX - Free Report) by 43.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,300 shares of the company's stock after selling 1,775 shares during the quarter. Yorktown Management & Research Co Inc's holdings in Regal Rexnord were worth $262,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Bank Julius Baer & Co. Ltd Zurich grew its position in shares of Regal Rexnord by 7.4% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,111 shares of the company's stock worth $190,000 after buying an additional 77 shares in the last quarter. Moors & Cabot Inc. raised its stake in Regal Rexnord by 4.1% in the fourth quarter. Moors & Cabot Inc. now owns 2,139 shares of the company's stock valued at $332,000 after buying an additional 85 shares in the last quarter. Kovitz Investment Group Partners LLC boosted its position in shares of Regal Rexnord by 3.8% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,382 shares of the company's stock worth $370,000 after acquiring an additional 87 shares in the last quarter. Advisory Research Inc. increased its holdings in shares of Regal Rexnord by 1.5% in the 4th quarter. Advisory Research Inc. now owns 6,710 shares of the company's stock valued at $1,041,000 after acquiring an additional 98 shares during the last quarter. Finally, CIBC Asset Management Inc raised its position in shares of Regal Rexnord by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 2,061 shares of the company's stock worth $320,000 after acquiring an additional 101 shares in the last quarter. Institutional investors and hedge funds own 99.72% of the company's stock.

Regal Rexnord Trading Up 3.2%

Regal Rexnord stock traded up $4.45 during trading on Tuesday, reaching $145.46. The company had a trading volume of 678,084 shares, compared to its average volume of 582,693. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.21 and a current ratio of 2.26. The firm has a market capitalization of $9.65 billion, a price-to-earnings ratio of 41.44, a PEG ratio of 1.43 and a beta of 1.16. Regal Rexnord Corporation has a 12-month low of $90.56 and a 12-month high of $185.28. The stock's 50 day moving average price is $127.84 and its two-hundred day moving average price is $135.00.

Regal Rexnord (NYSE:RRX - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.33. Regal Rexnord had a net margin of 3.96% and a return on equity of 9.67%. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the prior year, the business earned $2.00 earnings per share. The business's quarterly revenue was down 8.4% compared to the same quarter last year. As a group, equities analysts expect that Regal Rexnord Corporation will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm also recently declared 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 0.96%. The ex-dividend date of this dividend is Monday, June 30th. Regal Rexnord's dividend payout ratio (DPR) is 39.89%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. KeyCorp reduced 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 report on Tuesday, April 8th. Citigroup boosted their target price on Regal Rexnord from $145.00 to $165.00 and gave the company a "buy" rating in a report on Tuesday. Wall Street Zen raised Regal Rexnord from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. Robert W. Baird raised their target price 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. Finally, The Goldman Sachs Group decreased their price target on shares of Regal Rexnord from $183.00 to $163.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $173.75.

Insider Transactions at Regal Rexnord

In related news, CEO Louis V. Pinkham sold 10,593 shares of the 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 sale, the chief executive officer now owns 175,954 shares in the company, 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 Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.82% of the company's stock.

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.