10,187 Shares in Regal Rexnord Corporation (NYSE:RRX) Purchased by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd acquired a new stake in Regal Rexnord Corporation (NYSE:RRX - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 10,187 shares of the company's stock, valued at approximately $1,160,000.

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

Insider Activity

In other news, CEO Louis V. Pinkham sold 10,593 shares of the business'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 of the company's stock, valued at approximately $24,691,624.82. The trade was a 5.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.82% of the company's stock.

Regal Rexnord Trading Up 1.8%

Shares of RRX stock traded up $2.81 during trading hours on Friday, hitting $157.25. 444,683 shares of the company were exchanged, compared to its average volume of 698,223. The company has a quick ratio of 1.21, a current ratio of 2.26 and a debt-to-equity ratio of 0.82. Regal Rexnord Corporation has a 1 year low of $90.56 and a 1 year high of $185.28. The firm has a fifty day moving average of $143.85 and a 200 day moving average of $133.59. The firm has a market cap of $10.43 billion, a PE ratio of 44.80, a PEG ratio of 1.57 and a beta of 1.17.

Regal Rexnord (NYSE:RRX - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $2.15 earnings per share for the quarter, topping analysts' consensus estimates of $1.82 by $0.33. Regal Rexnord had a net margin of 3.96% and a return on equity of 9.67%. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter last year, the company earned $2.00 earnings per share. The business's quarterly revenue was down 8.4% compared to the same quarter last year. Analysts expect that Regal Rexnord Corporation will post 9.95 earnings per share for the current year.

Regal Rexnord Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 14th. Shareholders of record on Tuesday, September 30th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date is Tuesday, September 30th. Regal Rexnord's dividend payout ratio is presently 39.89%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on RRX. The Goldman Sachs Group boosted their price objective on shares of Regal Rexnord from $173.00 to $195.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Wall Street Zen upgraded shares of Regal Rexnord from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. Citigroup restated 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 upped their price target 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. Finally, Barclays increased their price objective on shares of Regal Rexnord from $160.00 to $165.00 and gave the company an "overweight" rating in a research note on Wednesday, July 9th. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $185.25.

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.