Regal Rexnord Corporation (NYSE:RRX) Shares Acquired by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. grew its position in Regal Rexnord Corporation (NYSE:RRX - Free Report) by 41.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 50,045 shares of the company's stock after buying an additional 14,560 shares during the period. Robeco Institutional Asset Management B.V. owned 0.08% of Regal Rexnord worth $5,698,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Oppenheimer Asset Management Inc. grew its stake in Regal Rexnord by 23.5% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 2,388 shares of the company's stock worth $370,000 after buying an additional 454 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in Regal Rexnord in the fourth quarter worth about $6,069,000. Smartleaf Asset Management LLC grew its stake in shares of Regal Rexnord by 45.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 337 shares of the company's stock worth $52,000 after acquiring an additional 105 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in shares of 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 acquiring an additional 153 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC increased its holdings in shares of Regal Rexnord by 335.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 622 shares of the company's stock valued at $97,000 after acquiring an additional 479 shares in the last quarter. Hedge funds and other institutional investors own 99.72% of the company's stock.

Regal Rexnord Stock Performance

Shares of Regal Rexnord stock traded up $2.19 during trading on Wednesday, hitting $148.89. 59,990 shares of the company's stock were exchanged, compared to its average volume of 589,230. The stock has a market capitalization of $9.88 billion, a price-to-earnings ratio of 42.29, a PEG ratio of 1.47 and a beta of 1.17. The business has a 50-day simple moving average of $133.53 and a 200-day simple moving average of $134.25. Regal Rexnord Corporation has a 52-week low of $90.56 and a 52-week high of $185.28. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.21 and a current ratio of 2.26.

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 for the quarter, beating analysts' consensus estimates of $1.82 by $0.33. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.38 billion. Regal Rexnord had a return on equity of 9.67% and a net margin of 3.96%. The company's revenue was down 8.4% on a year-over-year basis. During the same quarter last year, the business posted $2.00 EPS. On average, research analysts forecast that Regal Rexnord Corporation will post 9.95 EPS for the current year.

Regal Rexnord Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 14th. Shareholders of record on Monday, June 30th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date is Monday, June 30th. Regal Rexnord's payout ratio is presently 39.89%.

Insider Transactions at Regal Rexnord

In other news, CEO Louis V. Pinkham sold 10,593 shares of the firm's stock in a transaction that occurred on 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 owned 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.82% of the company's stock.

Wall Street Analyst Weigh In

RRX has been the subject of a number of recent analyst reports. Robert W. Baird lifted their target price on shares of Regal Rexnord from $167.00 to $172.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Citigroup reiterated a "buy" rating and set a $165.00 price objective (up from $145.00) on shares of Regal Rexnord in a research note on Tuesday, June 24th. The Goldman Sachs Group cut their target price on Regal Rexnord from $183.00 to $163.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Barclays raised their target price on Regal Rexnord from $155.00 to $160.00 and gave the stock an "overweight" rating in a research note on Monday, May 12th. Finally, Wall Street Zen upgraded Regal Rexnord from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Regal Rexnord currently has a consensus rating of "Buy" and a consensus target price 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.