Robeco Schweiz AG Lowers Holdings in Regal Rexnord Corporation (NYSE:RRX)

Robeco Schweiz AG trimmed its position in shares of Regal Rexnord Corporation (NYSE:RRX - Free Report) by 0.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 687,899 shares of the company's stock after selling 3,998 shares during the period. Regal Rexnord comprises 1.9% of Robeco Schweiz AG's investment portfolio, making the stock its 16th largest position. Robeco Schweiz AG owned 1.04% of Regal Rexnord worth $78,317,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of RRX. Skandinaviska Enskilda Banken AB publ grew its position in Regal Rexnord by 472.4% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company's stock worth $25,000 after acquiring an additional 137 shares during the last quarter. Bernard Wealth Management Corp. bought a new position in Regal Rexnord during the 4th quarter worth approximately $30,000. Aster Capital Management DIFC Ltd bought a new position in Regal Rexnord during the 4th quarter worth approximately $33,000. Golden State Wealth Management LLC grew its position in Regal Rexnord by 106.2% during the 1st quarter. Golden State Wealth Management LLC now owns 268 shares of the company's stock worth $31,000 after acquiring an additional 138 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its position in 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 acquiring an additional 153 shares during the last quarter. 99.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on RRX shares. The Goldman Sachs Group raised their price target on Regal Rexnord from $173.00 to $195.00 and gave the stock a "buy" rating in a research report on Tuesday. Barclays raised their price target on Regal Rexnord from $160.00 to $165.00 and gave the stock an "overweight" rating in a research report on Wednesday. KeyCorp set a $180.00 price target on Regal Rexnord and gave the stock an "overweight" rating in a research report on Thursday, June 26th. Wall Street Zen upgraded Regal Rexnord from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. Finally, Citigroup reiterated a "buy" rating and issued a $165.00 price objective (up from $145.00) on shares of Regal Rexnord in a research report on Tuesday, June 24th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $185.25.

Insider Buying and Selling at Regal Rexnord

In related news, CEO Louis V. Pinkham sold 10,593 shares of Regal Rexnord stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $140.33, for a total transaction of $1,486,515.69. Following the sale, the chief executive officer directly owned 175,954 shares in the company, valued at $24,691,624.82. The trade was a 5.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.82% of the stock is owned by corporate insiders.

Regal Rexnord Trading Up 0.1%

Shares of RRX stock traded up $0.18 during trading hours on Friday, reaching $151.86. The company's stock had a trading volume of 526,697 shares, compared to its average volume of 600,237. The stock has a market capitalization of $10.07 billion, a P/E ratio of 43.26, a P/E/G ratio of 1.54 and a beta of 1.17. Regal Rexnord Corporation has a one year low of $90.56 and a one year high of $185.28. The firm's fifty day simple moving average is $140.63 and its 200 day simple moving average is $133.99. The company has a current ratio of 2.26, a quick ratio of 1.21 and a debt-to-equity ratio of 0.82.

Regal Rexnord (NYSE:RRX - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $2.15 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $1.38 billion. During the same period in the previous year, the company posted $2.00 earnings per share. The firm's revenue was down 8.4% on a year-over-year basis. Equities research analysts expect that Regal Rexnord Corporation will post 9.95 EPS for the current year.

Regal Rexnord Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 14th. Investors of record on Monday, June 30th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.40 annualized dividend and a dividend yield of 0.92%. Regal Rexnord's dividend payout ratio is presently 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.