Silvercrest Asset Management Group LLC Has $24.68 Million Holdings in Regal Rexnord Co. (NYSE:RRX)

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

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

Regal Rexnord Trading Down 0.5%

Shares of NYSE RRX traded down $0.65 during trading on Tuesday, reaching $140.65. The company had a trading volume of 641,922 shares, compared to its average volume of 571,844. The company's fifty day moving average price is $115.00 and its 200-day moving average price is $141.08. Regal Rexnord Co. has a 12 month low of $90.56 and a 12 month high of $185.28. The stock has a market cap of $9.33 billion, a P/E ratio of 47.68, a PEG ratio of 1.37 and a beta of 1.11. The company has a quick ratio of 1.25, a current ratio of 2.26 and a debt-to-equity ratio of 0.87.

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 analysts' consensus estimates of $1.82 by $0.33. Regal Rexnord had a return on equity of 9.57% and a net margin of 3.25%. 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 posted $2.00 EPS. The business's revenue was down 8.4% on a year-over-year basis. As a group, research analysts expect that Regal Rexnord Co. will post 9.95 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 14th. Shareholders of record on Monday, June 30th will be given a $0.35 dividend. The ex-dividend date is Monday, June 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.00%. Regal Rexnord's dividend payout ratio (DPR) is presently 39.89%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on RRX shares. Citigroup lifted their price target on 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 Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating on the stock in a research note on Friday, February 7th. Robert W. Baird lifted their price target on Regal Rexnord from $167.00 to $172.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. StockNews.com lowered Regal Rexnord from a "buy" rating to a "hold" rating in a research note on Wednesday, April 16th. Finally, Barclays boosted their price objective on Regal Rexnord from $155.00 to $160.00 and gave the stock an "overweight" rating in a research report on Monday, May 12th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, Regal Rexnord presently has an average rating of "Moderate Buy" and a consensus price target of $171.25.

Insider Buying and Selling at Regal Rexnord

In other Regal Rexnord news, CEO Louis V. Pinkham sold 10,593 shares of Regal Rexnord 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 sale, the chief executive officer now directly owns 175,954 shares of the company's stock, valued at approximately $24,691,624.82. The trade was a 5.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.82% of the company's stock.

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.