Yorktown Management & Research Co Inc Sells 1,775 Shares of Regal Rexnord Corporation (NYSE:RRX)

Yorktown Management & Research Co Inc decreased its stake in shares of Regal Rexnord Corporation (NYSE:RRX - Free Report) by 43.6% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 2,300 shares of the company's stock after selling 1,775 shares during the period. Yorktown Management & Research Co Inc's holdings in Regal Rexnord were worth $262,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ increased its holdings in shares of Regal Rexnord by 472.4% during 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. acquired a new position in shares of Regal Rexnord during the 4th quarter valued at about $30,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Regal Rexnord during the 4th quarter valued at about $33,000. Jones Financial Companies Lllp increased 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 valued at $50,000 after acquiring an additional 153 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased 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 valued at $52,000 after acquiring an additional 105 shares during the last quarter. Institutional investors and hedge funds own 99.72% of the company's stock.

Regal Rexnord Stock Performance

Shares of RRX stock traded down $0.31 during mid-day trading on Friday, reaching $146.69. The stock had a trading volume of 1,402,624 shares, compared to its average volume of 589,428. The firm's 50 day simple moving average is $131.67 and its 200 day simple moving average is $134.83. The company has a quick ratio of 1.21, a current ratio of 2.26 and a debt-to-equity ratio of 0.82. Regal Rexnord Corporation has a one year low of $90.56 and a one year high of $185.28. The firm has a market cap of $9.73 billion, a PE ratio of 41.79, a P/E/G ratio of 1.49 and a beta of 1.16.

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

Regal Rexnord Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 14th. Shareholders of record on Monday, June 30th will be given a $0.35 dividend. The ex-dividend date is Monday, June 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.95%. Regal Rexnord's dividend payout ratio is currently 39.89%.

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 that occurred on Thursday, May 15th. The stock was sold at an average price of $140.33, for a total value of $1,486,515.69. Following the completion of the sale, the chief executive officer now owns 175,954 shares in the company, valued at approximately $24,691,624.82. This trade represents a 5.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.82% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Robert W. Baird increased their price objective on Regal Rexnord from $167.00 to $172.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. Barclays increased their price objective on Regal Rexnord from $155.00 to $160.00 and gave the company an "overweight" rating in a report on Monday, May 12th. The Goldman Sachs Group decreased their target price on Regal Rexnord from $183.00 to $163.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Citigroup restated a "buy" rating and set a $165.00 target price (up previously from $145.00) on shares of Regal Rexnord in a research note on Tuesday. Finally, Wall Street Zen upgraded Regal Rexnord from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. One 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. According to MarketBeat, Regal Rexnord presently has an average rating of "Buy" and a consensus price target of $180.63.

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.