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

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH has invested approximately $1.65 million in Regal Rexnord Corporation by acquiring 14,480 shares in the first quarter.
• Regal Rexnord announced a quarterly dividend of $0.35 per share with a payout date on October 14, contributing to a 0.9% yield.
• Despite a decline in quarterly revenue of 8.4% from the previous year, Regal Rexnord reported a better-than-expected earnings per share of $2.15, surpassing analysts' estimates.

Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Regal Rexnord Corporation (NYSE:RRX - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,480 shares of the company's stock, valued at approximately $1,649,000.

Other institutional investors have also recently made changes to their positions in the company. Bernard Wealth Management Corp. acquired a new stake in shares of Regal Rexnord in the 4th quarter worth about $30,000. Aster Capital Management DIFC Ltd bought a new position in shares of Regal Rexnord during the 4th quarter valued at approximately $33,000. Golden State Wealth Management LLC grew its position in shares of Regal Rexnord by 106.2% during the 1st quarter. Golden State Wealth Management LLC now owns 268 shares of the company's stock valued at $31,000 after acquiring an additional 138 shares during the period. Signaturefd LLC boosted its holdings in Regal Rexnord by 25.5% in the 1st quarter. Signaturefd LLC now owns 911 shares of the company's stock worth $104,000 after buying an additional 185 shares during the period. Finally, CWM LLC boosted its holdings in Regal Rexnord by 18.1% in the 1st quarter. CWM LLC now owns 1,011 shares of the company's stock worth $115,000 after buying an additional 155 shares during the period. Institutional investors and hedge funds own 99.72% of the company's stock.

Insider Buying and Selling at Regal Rexnord

In related news, CEO Louis V. Pinkham sold 10,593 shares of the company'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 transaction, the chief executive officer owned 175,954 shares in the company, valued at approximately $24,691,624.82. This represents a 5.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.82% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. The Goldman Sachs Group raised their price objective on shares of Regal Rexnord from $173.00 to $195.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Robert W. Baird lifted their target price 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. Wall Street Zen raised shares of Regal Rexnord from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd. Citigroup reissued a "buy" rating and issued a $165.00 price target (up previously from $145.00) on shares of Regal Rexnord in a report on Tuesday, June 24th. Finally, Barclays raised their price target on shares of Regal Rexnord from $160.00 to $165.00 and gave the stock an "overweight" rating in a report on Wednesday, July 9th. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $185.25.

Regal Rexnord Stock Down 0.2%

NYSE RRX traded down $0.28 during trading hours on Tuesday, reaching $147.23. 486,231 shares of the company's stock traded hands, compared to its average volume of 739,867. The firm has a 50-day simple moving average of $145.81 and a 200 day simple moving average of $133.22. The firm has a market cap of $9.77 billion, a PE ratio of 41.88, a PEG ratio of 1.51 and a beta of 1.18. Regal Rexnord Corporation has a 52-week low of $90.56 and a 52-week high of $185.28. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.26 and a quick ratio of 1.21.

Regal Rexnord (NYSE:RRX - Get Free Report) last issued its 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 firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.38 billion. Regal Rexnord had a net margin of 3.96% and a return on equity of 9.67%. The business's revenue was down 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.00 earnings per share. Sell-side analysts anticipate that Regal Rexnord Corporation will post 9.95 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 14th. Shareholders of record on Tuesday, September 30th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Tuesday, September 30th. Regal Rexnord's dividend payout ratio is presently 39.89%.

About Regal Rexnord

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.