UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 42,704 Shares of Regal Rexnord Co. (NYSE:RRX)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Regal Rexnord Co. (NYSE:RRX - Free Report) by 3.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,332,621 shares of the company's stock after purchasing an additional 42,704 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 2.01% of Regal Rexnord worth $206,729,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Victory Capital Management Inc. boosted its position in Regal Rexnord by 20.1% during the 4th quarter. Victory Capital Management Inc. now owns 2,176,963 shares of the company's stock worth $337,712,000 after buying an additional 363,728 shares during the period. Norges Bank acquired a new stake in Regal Rexnord during the 4th quarter worth approximately $235,188,000. Nuveen Asset Management LLC boosted its position in Regal Rexnord by 79.8% during the 4th quarter. Nuveen Asset Management LLC now owns 899,688 shares of the company's stock worth $139,569,000 after buying an additional 399,267 shares during the period. TimesSquare Capital Management LLC boosted its position in Regal Rexnord by 35.7% during the 4th quarter. TimesSquare Capital Management LLC now owns 884,095 shares of the company's stock worth $137,150,000 after buying an additional 232,509 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Regal Rexnord by 56.8% during the 4th quarter. JPMorgan Chase & Co. now owns 683,980 shares of the company's stock worth $106,106,000 after buying an additional 247,673 shares during the period. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Regal Rexnord

In other Regal Rexnord news, CEO Louis V. Pinkham sold 10,593 shares of the business's stock in a transaction 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 completion of the sale, the chief executive officer now owns 175,954 shares in the company, valued at approximately $24,691,624.82. The trade was a 5.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.82% of the stock is currently owned by company insiders.

Regal Rexnord Stock Down 1.8%

RRX stock traded down $2.56 during midday trading on Wednesday, reaching $137.01. 142,581 shares of the company's stock traded hands, compared to its average volume of 572,360. The company has a market cap of $9.09 billion, a price-to-earnings ratio of 46.46, a P/E/G ratio of 1.37 and a beta of 1.11. The firm's fifty day moving average price is $116.56 and its 200-day moving average price is $139.73. The company has a quick ratio of 1.25, a current ratio of 2.26 and a debt-to-equity ratio of 0.87. Regal Rexnord Co. has a 52 week low of $90.56 and a 52 week high of $185.28.

Regal Rexnord (NYSE:RRX - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported $2.15 EPS 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 net margin of 3.25% and a return on equity of 9.57%. Regal Rexnord's quarterly revenue was down 8.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.00 EPS. As a group, sell-side analysts forecast that Regal Rexnord Co. 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. Shareholders of record on Monday, June 30th will be paid a dividend of $0.35 per share. The ex-dividend date is Monday, June 30th. This represents a $1.40 dividend on an annualized basis and a yield of 1.02%. Regal Rexnord's dividend payout ratio (DPR) is presently 39.89%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. 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 research report on Wednesday, May 7th. Barclays boosted their target price on shares of Regal Rexnord from $155.00 to $160.00 and gave the company an "overweight" rating in a research report on Monday, May 12th. KeyCorp dropped their target price on shares of Regal Rexnord from $180.00 to $125.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Citigroup boosted their target price on shares of Regal Rexnord from $110.00 to $145.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Finally, Wall Street Zen upgraded shares of Regal Rexnord from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. One 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 data from MarketBeat, Regal Rexnord has a consensus rating of "Buy" and an average price target of $171.25.

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.