Robeco Schweiz AG Sells 3,998 Shares of Regal Rexnord Corporation (NYSE:RRX)

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

A number of other institutional investors have also added to or reduced their stakes in the company. State of Michigan Retirement System lifted its position in Regal Rexnord by 1.3% in the 1st quarter. State of Michigan Retirement System now owns 15,901 shares of the company's stock valued at $1,810,000 after acquiring an additional 200 shares in the last quarter. Regents Gate Capital LLP purchased a new stake in shares of Regal Rexnord in the first quarter worth approximately $2,211,000. Greenleaf Trust lifted its holdings in shares of Regal Rexnord by 2.1% in the first quarter. Greenleaf Trust now owns 5,187 shares of the company's stock valued at $591,000 after purchasing an additional 105 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in Regal Rexnord by 0.7% during the first quarter. Oregon Public Employees Retirement Fund now owns 13,549 shares of the company's stock worth $1,543,000 after buying an additional 100 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its position in Regal Rexnord by 95.1% in the 1st quarter. Teacher Retirement System of Texas now owns 15,842 shares of the company's stock valued at $1,804,000 after buying an additional 7,724 shares during the last quarter. 99.72% of the stock is owned by institutional investors and hedge funds.

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 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 completion of the sale, the chief executive officer owned 175,954 shares of the company's stock, valued at approximately $24,691,624.82. This trade represents a 5.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.82% of the company's stock.

Regal Rexnord Stock Performance

Shares of NYSE RRX traded down $5.42 during mid-day trading on Monday, hitting $146.47. The company had a trading volume of 865,530 shares, compared to its average volume of 729,253. 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 Corporation has a 1 year low of $90.56 and a 1 year high of $185.28. The company has a market capitalization of $9.72 billion, a price-to-earnings ratio of 41.73, a P/E/G ratio of 1.54 and a beta of 1.17. The stock's 50-day moving average price is $140.63 and its 200-day moving average price is $133.64.

Regal Rexnord (NYSE:RRX - Get Free Report) last announced 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 firm had revenue of $1.42 billion for the quarter, compared to analysts' expectations of $1.38 billion. During the same period in the prior year, the business posted $2.00 earnings per share. The company's revenue was down 8.4% on a year-over-year basis. On average, sell-side analysts forecast that Regal Rexnord Corporation will post 9.95 earnings per share for the current year.

Regal Rexnord Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 14th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.96%. Regal Rexnord's dividend payout ratio (DPR) is currently 39.89%.

Analyst Upgrades and Downgrades

RRX has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of Regal Rexnord from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. Robert W. Baird boosted their price target on shares of Regal Rexnord from $167.00 to $172.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. KeyCorp set a $180.00 target price on shares of Regal Rexnord and gave the stock an "overweight" rating in a research report on Thursday, June 26th. The Goldman Sachs Group upped their target price on Regal Rexnord from $173.00 to $195.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Finally, Barclays lifted their price target on Regal Rexnord from $160.00 to $165.00 and gave the stock an "overweight" rating in a report on Wednesday, July 9th. Eight research 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.com, Regal Rexnord has an average rating of "Buy" and a consensus price target of $185.25.

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.