Regal Rexnord Corporation (NYSE:RRX) Stock Holdings Lowered by Vontobel Holding Ltd.

Vontobel Holding Ltd. trimmed its holdings in Regal Rexnord Corporation (NYSE:RRX - Free Report) by 15.0% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 255,233 shares of the company's stock after selling 45,069 shares during the period. Vontobel Holding Ltd. owned 0.39% of Regal Rexnord worth $29,058,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Victory Capital Management Inc. grew its holdings in Regal Rexnord by 20.1% during the fourth quarter. Victory Capital Management Inc. now owns 2,176,963 shares of the company's stock worth $337,712,000 after acquiring an additional 363,728 shares during the period. Norges Bank acquired a new position in shares of Regal Rexnord in the fourth quarter valued at approximately $235,188,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Regal Rexnord by 3.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,332,621 shares of the company's stock worth $206,729,000 after purchasing an additional 42,704 shares during the period. Nuveen Asset Management LLC boosted its stake in Regal Rexnord by 79.8% in 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 last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Regal Rexnord by 56.8% in the fourth quarter. JPMorgan Chase & Co. now owns 683,980 shares of the company's stock valued at $106,106,000 after purchasing an additional 247,673 shares during the period. Institutional investors and hedge funds own 99.72% of the company's stock.

Insider Transactions at Regal Rexnord

In other Regal Rexnord news, CEO Louis V. Pinkham sold 10,593 shares of the company's stock in a transaction that occurred 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 directly owned 175,954 shares in the company, valued at $24,691,624.82. This represents a 5.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.82% of the stock is owned by corporate insiders.

Regal Rexnord Stock Performance

Shares of NYSE RRX traded up $5.23 during mid-day trading on Wednesday, hitting $151.93. The company had a trading volume of 702,005 shares, compared to its average volume of 591,706. Regal Rexnord Corporation has a 12 month low of $90.56 and a 12 month high of $185.28. The stock has a market cap of $10.08 billion, a price-to-earnings ratio of 43.28, a PEG ratio of 1.47 and a beta of 1.17. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.26 and a quick ratio of 1.21. The firm's 50 day simple moving average is $133.53 and its two-hundred day simple moving average is $134.25.

Regal Rexnord (NYSE:RRX - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.33. The company had revenue of $1.42 billion during 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 company's revenue for the quarter was down 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.00 earnings per share. As a group, equities research analysts forecast that Regal Rexnord Corporation will post 9.95 earnings per share for the current year.

Regal Rexnord Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 14th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date is Monday, June 30th. Regal Rexnord's dividend payout ratio (DPR) is 39.89%.

Analysts Set New Price Targets

Several research firms have issued reports on RRX. Robert W. Baird boosted their price objective on shares of Regal Rexnord from $167.00 to $172.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Citigroup restated a "buy" rating and issued a $165.00 price target (up previously from $145.00) on shares of Regal Rexnord in a research note on Tuesday, June 24th. KeyCorp set a $180.00 price objective on shares of Regal Rexnord and gave the company an "overweight" rating in a research note on Thursday, June 26th. Wall Street Zen raised shares of Regal Rexnord from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. Finally, The Goldman Sachs Group lowered their price objective on Regal Rexnord from $183.00 to $163.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Regal Rexnord has a consensus rating of "Buy" and a consensus target price of $180.63.

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.