Universal Beteiligungs und Servicegesellschaft mbH Invests $1.65 Million in Regal Rexnord Corporation (NYSE:RRX)

Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Regal Rexnord Corporation (NYSE:RRX - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 14,480 shares of the company's stock, valued at approximately $1,649,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. purchased a new position in shares of Regal Rexnord during the fourth quarter worth $30,000. Golden State Wealth Management LLC lifted its stake 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 in the last quarter. Aster Capital Management DIFC Ltd acquired a new position in Regal Rexnord during the 4th quarter worth about $33,000. Signaturefd LLC boosted its holdings in Regal Rexnord by 25.5% during the 1st quarter. Signaturefd LLC now owns 911 shares of the company's stock valued at $104,000 after acquiring an additional 185 shares during the period. Finally, CWM LLC grew its position in Regal Rexnord by 18.1% in the 1st quarter. CWM LLC now owns 1,011 shares of the company's stock valued at $115,000 after acquiring an additional 155 shares in the last quarter. Institutional investors and hedge funds own 99.72% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on RRX shares. KeyCorp set a $180.00 target price on shares of Regal Rexnord and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Citigroup reaffirmed a "buy" rating and set a $165.00 price objective (up previously from $145.00) on shares of Regal Rexnord in a research report on Tuesday, June 24th. Robert W. Baird lifted 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. The Goldman Sachs Group boosted their target price on Regal Rexnord from $173.00 to $195.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Finally, Wall Street Zen raised Regal Rexnord from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Regal Rexnord has a consensus rating of "Buy" and a consensus target price of $185.25.

Insider Buying and Selling at Regal Rexnord

In related news, CEO Louis V. Pinkham sold 10,593 shares of the stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $140.33, for a total value of $1,486,515.69. Following the transaction, the chief executive officer directly 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.82% of the company's stock.

Regal Rexnord Stock Performance

Shares of RRX stock opened at $152.90 on Friday. The company has a market cap of $10.14 billion, a P/E ratio of 43.56, a PEG ratio of 1.56 and a beta of 1.17. The firm has a fifty day moving average price of $144.91 and a 200 day moving average price of $133.66. 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 12 month low of $90.56 and a 12 month high of $185.28.

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 (EPS) for the quarter, topping 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 business had revenue of $1.42 billion during the quarter, compared to analysts' expectations of $1.38 billion. During the same period in the prior year, the firm posted $2.00 EPS. The business's quarterly revenue was down 8.4% compared to the same quarter last year. Sell-side analysts predict that Regal Rexnord Corporation will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 14th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Tuesday, September 30th. Regal Rexnord's payout ratio is currently 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.

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