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

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Regal Rexnord Co. (NYSE:RRX - Free Report) by 3.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,332,621 shares of the company's stock after buying an additional 42,704 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 2.01% of Regal Rexnord worth $206,729,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RRX. Skandinaviska Enskilda Banken AB publ boosted its stake in Regal Rexnord by 472.4% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company's stock valued at $25,000 after buying an additional 137 shares in the last quarter. Bernard Wealth Management Corp. acquired a new stake in shares of Regal Rexnord during the fourth quarter worth $30,000. Aster Capital Management DIFC Ltd acquired a new position in Regal Rexnord in the fourth quarter valued at about $33,000. Tobam acquired a new position in Regal Rexnord in the fourth quarter valued at about $45,000. Finally, Jones Financial Companies Lllp grew its stake in Regal Rexnord by 90.5% in 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 during the period. Institutional investors and hedge funds own 99.72% of the company's stock.

Regal Rexnord Price Performance

Shares of Regal Rexnord stock opened at $134.85 on Friday. The company has a current ratio of 2.26, a quick ratio of 1.25 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $8.95 billion, a PE ratio of 45.71, a price-to-earnings-growth ratio of 1.37 and a beta of 1.11. The business's 50-day moving average price is $115.70 and its 200-day moving average price is $140.80. Regal Rexnord Co. has a 12 month low of $90.56 and a 12 month high of $185.28.

Regal Rexnord (NYSE:RRX - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.33. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.38 billion. Regal Rexnord had a return on equity of 9.57% and a net margin of 3.25%. Regal Rexnord's revenue for the quarter was down 8.4% compared to the same quarter last year. During the same period last year, the company earned $2.00 EPS. Sell-side analysts forecast that Regal Rexnord Co. will post 9.95 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 14th. Stockholders of record on Monday, June 30th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date is Monday, June 30th. Regal Rexnord's payout ratio is presently 39.89%.

Insider Buying and Selling at Regal Rexnord

In other Regal Rexnord 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 value of $1,486,515.69. Following the completion of the sale, the chief executive officer now owns 175,954 shares of the company's stock, valued at approximately $24,691,624.82. This trade represents a 5.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.82% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on RRX shares. Citigroup upped their target price on Regal Rexnord from $110.00 to $145.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Oppenheimer reduced their price target on Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating on the stock in a research report on Friday, February 7th. KeyCorp reduced their price target on Regal Rexnord from $180.00 to $125.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Robert W. Baird raised their target price on Regal Rexnord from $167.00 to $172.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. Finally, The Goldman Sachs Group dropped their price target 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. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average 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.

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