Swiss National Bank Lowers Holdings in Regal Rexnord Co. (NYSE:RRX)

Swiss National Bank decreased its position in Regal Rexnord Co. (NYSE:RRX - Free Report) by 10.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 130,617 shares of the company's stock after selling 15,100 shares during the period. Swiss National Bank owned 0.20% of Regal Rexnord worth $19,334,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC increased its holdings in Regal Rexnord by 3.7% in the third quarter. Commonwealth Equity Services LLC now owns 3,277 shares of the company's stock valued at $468,000 after purchasing an additional 118 shares during the last quarter. Raymond James & Associates raised its position in shares of Regal Rexnord by 4.0% in the 3rd quarter. Raymond James & Associates now owns 76,861 shares of the company's stock valued at $10,982,000 after acquiring an additional 2,978 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Regal Rexnord by 17.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,083 shares of the company's stock valued at $1,869,000 after acquiring an additional 1,957 shares during the period. Advisor Partners II LLC bought a new position in Regal Rexnord during the 3rd quarter worth approximately $214,000. Finally, Park Avenue Securities LLC acquired a new position in Regal Rexnord during the third quarter valued at approximately $215,000. 99.72% of the stock is owned by institutional investors.

Analysts Set New Price Targets

RRX has been the topic of a number of research reports. Barclays cut their price target on Regal Rexnord from $203.00 to $199.00 and set an "overweight" rating on the stock in a report on Wednesday. Robert W. Baird increased their target price on shares of Regal Rexnord from $205.00 to $208.00 and gave the stock an "outperform" rating in a report on Wednesday. Oppenheimer lifted their price target on shares of Regal Rexnord from $185.00 to $210.00 and gave the company an "outperform" rating in a research note on Wednesday, March 13th. Finally, KeyCorp raised their price objective on Regal Rexnord from $180.00 to $210.00 and gave the company an "overweight" rating in a report on Monday, March 25th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Regal Rexnord has an average rating of "Moderate Buy" and an average target price of $195.60.

Regal Rexnord Trading Up 0.1 %

Shares of RRX traded up $0.20 during trading hours on Friday, hitting $161.20. 273,204 shares of the stock were exchanged, compared to its average volume of 461,045. The business has a 50-day moving average of $169.23 and a 200-day moving average of $146.78. Regal Rexnord Co. has a fifty-two week low of $97.18 and a fifty-two week high of $183.85. The firm has a market capitalization of $10.72 billion, a P/E ratio of -185.29, a price-to-earnings-growth ratio of 1.64 and a beta of 1.16. 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 announced its quarterly earnings results on Monday, May 6th. The company reported $2.00 EPS for the quarter, beating analysts' consensus estimates of $1.98 by $0.02. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.56 billion. Regal Rexnord had a negative net margin of 0.92% and a positive return on equity of 9.58%. Regal Rexnord's quarterly revenue was up 26.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.22 EPS. On average, research analysts expect that Regal Rexnord Co. will post 10.05 EPS for the current year.

Regal Rexnord Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Friday, June 28th. Regal Rexnord's dividend payout ratio is presently -160.92%.

Insider Transactions at Regal Rexnord

In other news, EVP Thomas E. Valentyn sold 647 shares of the business's stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $169.70, for a total value of $109,795.90. Following the sale, the executive vice president now owns 28,412 shares of the company's stock, valued at $4,821,516.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Regal Rexnord news, EVP Thomas E. Valentyn sold 647 shares of Regal Rexnord stock in a transaction dated Tuesday, February 27th. The stock was 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 $4,821,516.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Thomas E. Valentyn sold 1,931 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $166.09, for a total value of $320,719.79. Following the transaction, the executive vice president now owns 27,180 shares in the company, valued at $4,514,326.20. The disclosure for this sale can be found here. Insiders have sold 5,570 shares of company stock worth $892,301 in the last ninety days. Company insiders own 0.82% of the company's stock.

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.