Vontobel Holding Ltd. Acquires 13,564 Shares of Regal Rexnord Corporation $RRX

Key Points

• Vontobel Holding Ltd. increased its stake in Regal Rexnord by 5.2% in the fourth quarter, adding 13,564 shares to bring its total holdings to 276,266 shares worth about $38.8 million.
• Several analysts remain constructive on the stock, with JPMorgan, Barclays, and KeyCorp all raising price targets; the current consensus rating is Moderate Buy with an average target price of $232.25.
• Regal Rexnord reported better-than-expected quarterly results, posting EPS of $2.17 and revenue of $1.48 billion, while also announcing a quarterly dividend of $0.35 per share payable on July 14.

Vontobel Holding Ltd. raised its holdings in shares of Regal Rexnord Corporation (NYSE:RRX - Free Report) by 5.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 276,266 shares of the company's stock after acquiring an additional 13,564 shares during the period. Vontobel Holding Ltd. owned about 0.42% of Regal Rexnord worth $38,766,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Victory Capital Management Inc. grew its position in Regal Rexnord by 138.4% during the third quarter. Victory Capital Management Inc. now owns 3,968,101 shares of the company's stock valued at $566,981,000 after acquiring an additional 2,303,373 shares during the last quarter. Viking Global Investors LP grew its position in Regal Rexnord by 25.7% during the second quarter. Viking Global Investors LP now owns 3,430,128 shares of the company's stock valued at $497,231,000 after acquiring an additional 701,145 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Regal Rexnord by 5.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,530,092 shares of the company's stock valued at $355,031,000 after acquiring an additional 131,171 shares during the last quarter. Invesco Ltd. grew its position in Regal Rexnord by 17.7% during the third quarter. Invesco Ltd. now owns 1,500,000 shares of the company's stock valued at $215,160,000 after acquiring an additional 225,734 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Regal Rexnord by 4.7% during the fourth quarter. Geode Capital Management LLC now owns 1,231,262 shares of the company's stock valued at $172,806,000 after acquiring an additional 55,797 shares during the last quarter. 99.72% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price objective on Regal Rexnord from $230.00 to $240.00 and gave the company an "overweight" rating in a research note on Tuesday, May 26th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Regal Rexnord in a research note on Tuesday, April 21st. Barclays upped their price target on shares of Regal Rexnord from $237.00 to $245.00 and gave the company an "overweight" rating in a report on Monday, March 23rd. KeyCorp upped their price target on shares of Regal Rexnord from $255.00 to $265.00 and gave the company an "overweight" rating in a report on Thursday, May 7th. Finally, Wall Street Zen lowered shares of Regal Rexnord from a "strong-buy" rating to a "buy" rating in a report on Tuesday, April 28th. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $232.25.

Insider Transactions at Regal Rexnord

In other news, Director Robin A. Walker-Lee sold 1,297 shares of Regal Rexnord stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $213.85, for a total value of $277,363.45. Following the completion of the transaction, the director owned 5,503 shares of the company's stock, valued at $1,176,816.55. The trade was a 19.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robert Rehard sold 6,499 shares of Regal Rexnord stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $200.00, for a total value of $1,299,800.00. Following the completion of the sale, the chief financial officer owned 27,965 shares of the company's stock, valued at $5,593,000. The trade was a 18.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 30,305 shares of company stock valued at $6,341,869 in the last quarter. 0.63% of the stock is owned by insiders.

Regal Rexnord Stock Performance

Shares of RRX stock opened at $212.51 on Friday. The stock has a fifty day moving average of $205.28 and a 200 day moving average of $184.40. Regal Rexnord Corporation has a 52 week low of $127.96 and a 52 week high of $236.35. The firm has a market capitalization of $14.15 billion, a price-to-earnings ratio of 49.42, a PEG ratio of 1.99 and a beta of 1.11. The company has a quick ratio of 1.08, a current ratio of 2.17 and a debt-to-equity ratio of 0.69.

Regal Rexnord (NYSE:RRX - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $2.17 EPS for the quarter, beating the consensus estimate of $2.11 by $0.06. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.43 billion. Regal Rexnord had a return on equity of 9.49% and a net margin of 4.78%.The company's revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.15 earnings per share. As a group, research analysts expect that Regal Rexnord Corporation will post 10.63 earnings per share for the current year.

Regal Rexnord Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, June 30th. Regal Rexnord's payout ratio is currently 32.56%.

Regal Rexnord Profile

Regal Rexnord Corporation NYSE: RRX is a global industrial manufacturer specializing in electric motors, power generation equipment and automated motion control systems. The company designs, engineers and produces a broad portfolio of products that includes energy-efficient electric motors, variable frequency drives, gearboxes, couplings, bearings and power transmission components. These offerings support critical applications in industries such as heating, ventilation and air conditioning (HVAC), refrigeration, data centers, water treatment, food and beverage processing, mining, oil and gas, and material handling.

The company's operations are organized into multiple business segments that address distinct customer needs.

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