Charles Schwab Investment Management Inc. Acquires 11,786 Shares of Regal Rexnord Co. (NYSE:RRX)

Charles Schwab Investment Management Inc. lifted its stake in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) by 2.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 415,851 shares of the company's stock after buying an additional 11,786 shares during the period. Charles Schwab Investment Management Inc. owned about 0.63% of Regal Rexnord worth $61,554,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of RRX. Xponance Inc. boosted its holdings in Regal Rexnord by 1.2% during the fourth quarter. Xponance Inc. now owns 8,003 shares of the company's stock worth $1,185,000 after purchasing an additional 91 shares during the last quarter. Mariner LLC grew its holdings in shares of Regal Rexnord by 2.1% in the third quarter. Mariner LLC now owns 5,525 shares of the company's stock valued at $789,000 after acquiring an additional 113 shares in the last quarter. Commonwealth Equity Services LLC increased its position in shares of Regal Rexnord by 3.7% during the third quarter. Commonwealth Equity Services LLC now owns 3,277 shares of the company's stock valued at $468,000 after acquiring an additional 118 shares during the last quarter. Cary Street Partners Investment Advisory LLC lifted its holdings in Regal Rexnord by 652.2% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 173 shares of the company's stock worth $25,000 after acquiring an additional 150 shares during the period. Finally, Treasurer of the State of North Carolina boosted its position in Regal Rexnord by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 29,965 shares of the company's stock worth $4,281,000 after purchasing an additional 153 shares during the last quarter. Institutional investors own 99.72% of the company's stock.

Regal Rexnord Stock Performance

Shares of NYSE:RRX traded down $6.86 during midday trading on Thursday, reaching $160.20. 409,217 shares of the company traded hands, compared to its average volume of 455,744. The firm's fifty day moving average price is $168.75 and its two-hundred day moving average price is $148.26. The firm has a market capitalization of $10.66 billion, a price-to-earnings ratio of -347.98, a price-to-earnings-growth ratio of 1.64 and a beta of 1.16. The company has a quick ratio of 1.56, a current ratio of 2.62 and a debt-to-equity ratio of 0.99. Regal Rexnord Co. has a 12 month low of $97.18 and a 12 month high of $183.85.

Regal Rexnord (NYSE:RRX - Get Free Report) last issued its quarterly earnings data on Monday, May 6th. The company reported $2.00 EPS for the quarter, beating the consensus estimate of $1.98 by $0.02. Regal Rexnord had a negative net margin of 0.48% and a positive return on equity of 9.42%. The company had revenue of $1.55 billion during the quarter, compared to analysts' expectations of $1.56 billion. During the same quarter in the previous year, the company earned $2.22 earnings per share. Regal Rexnord's revenue for the quarter was up 26.4% on a year-over-year basis. On average, equities analysts expect that Regal Rexnord Co. will post 9.88 earnings per share for the current year.

Regal Rexnord Announces Dividend

The firm also recently declared 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. The ex-dividend date is Friday, June 28th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.87%. Regal Rexnord's dividend payout ratio (DPR) is presently -291.67%.

Insider Transactions at Regal Rexnord

In other Regal Rexnord news, EVP Thomas E. Valentyn sold 647 shares of Regal Rexnord stock in a transaction that occurred on 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 directly owns 28,412 shares in the company, valued at $4,821,516.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Regal Rexnord news, EVP Thomas E. Valentyn sold 647 shares of the company's stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $169.70, for a total value 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 legal filing with the SEC, which can be accessed through this link. Also, EVP Thomas E. Valentyn sold 1,931 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $166.09, for a total transaction 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. 0.82% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RRX. Oppenheimer lifted their target price on Regal Rexnord from $185.00 to $210.00 and gave the stock an "outperform" rating in a research note on Wednesday, March 13th. KeyCorp boosted their target price on shares of Regal Rexnord from $180.00 to $210.00 and gave the company an "overweight" rating in a research note on Monday, March 25th. Robert W. Baird raised their price target on shares of Regal Rexnord from $205.00 to $208.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 8th. Barclays dropped their price objective on Regal Rexnord from $203.00 to $199.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 8th. Finally, StockNews.com raised Regal Rexnord from a "hold" rating to a "buy" rating in a research report on Monday. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $195.60.

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.