Regal Rexnord Co. (NYSE:RRX) Shares Purchased by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) by 5.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 456,541 shares of the company's stock after purchasing an additional 24,794 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.69% of Regal Rexnord worth $70,823,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of RRX. Norges Bank purchased a new stake in Regal Rexnord during the 4th quarter valued at about $235,188,000. Victory Capital Management Inc. boosted its holdings in shares of Regal Rexnord by 20.1% during the 4th quarter. Victory Capital Management Inc. now owns 2,176,963 shares of the company's stock valued at $337,712,000 after acquiring an additional 363,728 shares during the last quarter. Cartenna Capital LP purchased a new stake in shares of Regal Rexnord during the 4th quarter valued at about $55,900,000. Alyeska Investment Group L.P. boosted its holdings in shares of Regal Rexnord by 425.4% during the 4th quarter. Alyeska Investment Group L.P. now owns 400,050 shares of the company's stock valued at $62,060,000 after acquiring an additional 323,904 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Regal Rexnord by 56.8% during the 4th quarter. JPMorgan Chase & Co. now owns 683,980 shares of the company's stock valued at $106,106,000 after acquiring an additional 247,673 shares during the last quarter. 99.72% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Louis V. Pinkham sold 10,593 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer now owns 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 legal filing with the SEC, which is available through this hyperlink. 0.82% of the stock is currently owned by corporate insiders.

Regal Rexnord Trading Up 1.3%

RRX stock traded up $1.82 during mid-day trading on Friday, reaching $141.52. 870,875 shares of the stock traded hands, compared to its average volume of 568,740. The stock has a market capitalization of $9.39 billion, a PE ratio of 47.97, a PEG ratio of 1.37 and a beta of 1.11. Regal Rexnord Co. has a one year low of $90.56 and a one year high of $185.28. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.25 and a current ratio of 2.26. The business has a 50-day moving average price of $114.03 and a two-hundred day moving average price of $141.65.

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, beating analysts' consensus estimates of $1.82 by $0.33. Regal Rexnord had a net margin of 3.25% and a return on equity of 9.57%. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same period in the previous year, the firm earned $2.00 earnings per share. The business's revenue was down 8.4% on a year-over-year basis. Equities research analysts expect that Regal Rexnord Co. will post 9.95 EPS for the current year.

Regal Rexnord Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 14th. Investors of record on Monday, June 30th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date is Monday, June 30th. Regal Rexnord's dividend payout ratio (DPR) is presently 39.89%.

Wall Street Analysts Forecast Growth

RRX has been the topic of a number of recent analyst reports. Citigroup raised their price target on shares of Regal Rexnord from $110.00 to $145.00 and gave the company a "buy" rating in a report on Thursday, May 8th. KeyCorp dropped their price target on shares of Regal Rexnord from $180.00 to $125.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Barclays raised their price target on shares of Regal Rexnord from $155.00 to $160.00 and gave the company an "overweight" rating in a report on Monday, May 12th. The Goldman Sachs Group dropped their price target on shares of Regal Rexnord from $183.00 to $163.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Finally, Robert W. Baird increased 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. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, Regal Rexnord presently has a consensus rating of "Moderate Buy" and an average price target of $171.25.

Regal Rexnord Company 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.