Silvercrest Asset Management Group LLC Sells 18,025 Shares of Regal Rexnord Co. (NYSE:RRX)

Silvercrest Asset Management Group LLC reduced its position in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) by 10.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 159,092 shares of the company's stock after selling 18,025 shares during the quarter. Silvercrest Asset Management Group LLC owned about 0.24% of Regal Rexnord worth $24,680,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Skandinaviska Enskilda Banken AB publ lifted its position in Regal Rexnord by 472.4% during the fourth 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 stake in shares of Regal Rexnord during the 4th quarter valued at about $30,000. Aster Capital Management DIFC Ltd bought a new position in shares of Regal Rexnord in the 4th quarter valued at about $33,000. Tobam purchased a new position in Regal Rexnord in the fourth quarter worth about $45,000. Finally, Jones Financial Companies Lllp increased its stake in Regal Rexnord by 90.5% during the fourth quarter. Jones Financial Companies Lllp now owns 322 shares of the company's stock worth $50,000 after acquiring an additional 153 shares during the last quarter. 99.72% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Louis V. Pinkham sold 10,593 shares of the business's stock in a transaction dated 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 sale, the chief executive officer now owns 175,954 shares in the company, valued at approximately $24,691,624.82. The trade was a 5.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.82% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on RRX. KeyCorp decreased their price objective on Regal Rexnord from $180.00 to $125.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Wall Street Zen upgraded Regal Rexnord from a "buy" rating to a "strong-buy" rating in a report on Thursday. Robert W. Baird raised their price target on Regal Rexnord from $167.00 to $172.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Citigroup boosted their price objective on shares of Regal Rexnord from $110.00 to $145.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Finally, Oppenheimer reduced their target price 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. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Regal Rexnord presently has a consensus rating of "Buy" and an average target price of $171.25.

Regal Rexnord Trading Down 0.8%

Regal Rexnord stock traded down $1.03 during mid-day trading on Thursday, hitting $133.63. The company's stock had a trading volume of 125,108 shares, compared to its average volume of 572,824. 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 company has a 50 day moving average of $115.37 and a 200-day moving average of $141.04. Regal Rexnord Co. has a one year low of $90.56 and a one year high of $185.28. The stock has a market cap of $8.86 billion, a PE ratio of 45.25, a P/E/G ratio of 1.37 and a beta of 1.11.

Regal Rexnord (NYSE:RRX - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported $2.15 EPS for the quarter, topping 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 company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter last year, the firm posted $2.00 EPS. The firm's revenue was down 8.4% compared to the same quarter last year. On average, research analysts anticipate that Regal Rexnord Co. will post 9.95 EPS for the current year.

Regal Rexnord Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 14th. Investors of record on Monday, June 30th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.40 annualized dividend and a dividend yield of 1.05%. Regal Rexnord's payout ratio is currently 39.89%.

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.