Regal Rexnord Co. (NYSE:RRX) Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC lessened its holdings in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) by 9.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 200,925 shares of the company's stock after selling 20,069 shares during the period. ProShare Advisors LLC owned approximately 0.30% of Regal Rexnord worth $31,169,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Regal Rexnord by 472.4% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company's stock valued at $25,000 after purchasing an additional 137 shares during the last quarter. Bernard Wealth Management Corp. purchased a new position in Regal Rexnord in the 4th quarter worth $30,000. Aster Capital Management DIFC Ltd acquired a new stake in Regal Rexnord during the 4th quarter worth about $33,000. Tobam acquired a new stake in shares of Regal Rexnord during the 4th quarter valued at about $45,000. Finally, Jones Financial Companies Lllp grew its position in shares of Regal Rexnord by 90.5% during the 4th quarter. Jones Financial Companies Lllp now owns 322 shares of the company's stock valued at $50,000 after acquiring an additional 153 shares during the period. Hedge funds and other institutional investors own 99.72% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Robert W. Baird raised their target price on Regal Rexnord from $167.00 to $172.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. 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 research note on Thursday, May 8th. Oppenheimer decreased their price target on shares of Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating on the stock in a research note on Friday, February 7th. 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 research note on Monday, May 12th. Finally, KeyCorp decreased their price target on shares of Regal Rexnord from $180.00 to $125.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $171.25.

Regal Rexnord Price Performance

RRX traded down $0.95 during trading on Thursday, reaching $133.72. The company's stock had a trading volume of 103,300 shares, compared to its average volume of 572,758. The company has a quick ratio of 1.25, a current ratio of 2.26 and a debt-to-equity ratio of 0.87. The firm has a fifty day simple moving average of $115.37 and a two-hundred day simple moving average of $141.04. Regal Rexnord Co. has a 1 year low of $90.56 and a 1 year high of $185.28. The company has a market cap of $8.87 billion, a price-to-earnings ratio of 45.36, a PEG ratio of 1.37 and a beta of 1.11.

Regal Rexnord (NYSE:RRX - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $2.15 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the previous year, the company earned $2.00 EPS. The business's revenue for the quarter was down 8.4% compared to the same quarter last year. As a group, analysts anticipate that Regal Rexnord Co. will post 9.95 EPS for the current year.

Regal Rexnord Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 14th. Shareholders of record on Monday, June 30th will be paid a $0.35 dividend. The ex-dividend date is Monday, June 30th. This represents a $1.40 annualized dividend and a dividend yield of 1.05%. Regal Rexnord's dividend payout ratio (DPR) is 39.89%.

Insiders Place Their Bets

In other Regal Rexnord 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 value of $1,486,515.69. Following the completion of the transaction, the chief executive officer now owns 175,954 shares in the company, valued at $24,691,624.82. The trade was a 5.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 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.