SG Americas Securities LLC Cuts Stake in Regal Rexnord Co. (NYSE:RRX)

SG Americas Securities LLC reduced its stake in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) by 77.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,187 shares of the company's stock after selling 10,749 shares during the quarter. SG Americas Securities LLC's holdings in Regal Rexnord were worth $472,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. bought a new stake in shares of Regal Rexnord during the 1st quarter valued at $978,777,000. Capital World Investors bought a new stake in shares of Regal Rexnord during the 1st quarter valued at $793,975,000. State Street Corp bought a new stake in shares of Regal Rexnord during the 1st quarter valued at $266,837,000. Clearbridge Investments LLC bought a new stake in shares of Regal Rexnord during the 1st quarter valued at $154,043,000. Finally, Wellington Management Group LLP bought a new stake in shares of Regal Rexnord during the 1st quarter valued at $143,144,000. 99.72% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Regal Rexnord

In other Regal Rexnord news, EVP Thomas E. Valentyn sold 647 shares of the company's stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $169.70, for a total transaction of $109,795.90. Following the transaction, the executive vice president now owns 28,412 shares in the company, valued at approximately $4,821,516.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Thomas E. Valentyn sold 647 shares of the company's stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $169.70, for a total transaction of $109,795.90. Following the completion of the sale, the executive vice president now owns 28,412 shares of the company's stock, valued at approximately $4,821,516.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jerrald R. Morton sold 2,992 shares of the company's stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $154.34, for a total transaction of $461,785.28. Following the sale, the executive vice president now directly owns 15,884 shares of the company's stock, valued at approximately $2,451,536.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,570 shares of company stock worth $892,301. Company insiders own 0.82% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on RRX. Barclays boosted their target price on shares of Regal Rexnord from $200.00 to $203.00 and gave the company an "overweight" rating in a report on Tuesday. KeyCorp upped their price target on shares of Regal Rexnord from $180.00 to $210.00 and gave the stock an "overweight" rating in a research note on Monday, March 25th. Oppenheimer upped their price target on shares of Regal Rexnord from $185.00 to $210.00 and gave the stock an "outperform" rating in a research note on Wednesday, March 13th. Finally, Wolfe Research upgraded shares of Regal Rexnord from a "peer perform" rating to an "outperform" rating and set a $151.00 price target on the stock in a research note on Monday, December 11th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $197.00.

Regal Rexnord Stock Down 0.2 %

Regal Rexnord stock traded down $0.34 during mid-day trading on Friday, reaching $172.40. The stock had a trading volume of 518,879 shares, compared to its average volume of 400,921. The company has a market capitalization of $11.45 billion, a price-to-earnings ratio of -198.16, a PEG ratio of 1.72 and a beta of 1.14. The company has a 50-day moving average price of $164.26 and a two-hundred day moving average price of $142.48. Regal Rexnord Co. has a one year low of $97.18 and a one year high of $183.85. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.55 and a quick ratio of 1.59.

Regal Rexnord (NYSE:RRX - Get Free Report) last posted its earnings results on Wednesday, February 7th. The company reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.02. The business had revenue of $1.61 billion for the quarter, compared to analysts' expectations of $1.63 billion. Regal Rexnord had a negative net margin of 0.92% and a positive return on equity of 9.58%. The business's revenue for the quarter was up 29.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.64 EPS. On average, analysts expect that Regal Rexnord Co. will post 10.05 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 12th. Shareholders of record on Thursday, March 28th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend is Wednesday, March 27th. Regal Rexnord's dividend payout ratio is currently -160.92%.

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.