Regal Rexnord Corporation $RRX Shares Sold by UBS Group AG

UBS Group AG trimmed its position in shares of Regal Rexnord Corporation (NYSE:RRX) by 39.4% during the fourth quarter, Holdings Channel reports. The firm owned 659,390 shares of the company’s stock after selling 428,959 shares during the quarter. UBS Group AG’s holdings in Regal Rexnord were worth $92,526,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in RRX. AQR Capital Management LLC lifted its stake in Regal Rexnord by 208.1% during the first quarter. AQR Capital Management LLC now owns 17,747 shares of the company’s stock worth $2,011,000 after purchasing an additional 11,987 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in Regal Rexnord by 91.6% during the first quarter. Jones Financial Companies Lllp now owns 617 shares of the company’s stock worth $70,000 after purchasing an additional 295 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in Regal Rexnord by 135.1% during the first quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock worth $25,000 after purchasing an additional 127 shares in the last quarter. Cetera Investment Advisers lifted its stake in Regal Rexnord by 6.7% during the second quarter. Cetera Investment Advisers now owns 3,116 shares of the company’s stock worth $452,000 after purchasing an additional 196 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in Regal Rexnord during the second quarter worth $4,759,000. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on RRX shares. Weiss Ratings restated a “hold (c)” rating on shares of Regal Rexnord in a research note on Tuesday, April 21st. Robert W. Baird set a $253.00 price target on Regal Rexnord in a research note on Friday, February 6th. Barclays upped their price objective on Regal Rexnord from $237.00 to $245.00 and gave the stock an “overweight” rating in a research report on Monday, March 23rd. Oppenheimer upped their price objective on Regal Rexnord from $180.00 to $225.00 and gave the stock an “outperform” rating in a research report on Friday, February 6th. Finally, JPMorgan Chase & Co. upped their price objective on Regal Rexnord from $190.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, February 6th. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $229.75.

Regal Rexnord Stock Down 1.1%

Regal Rexnord stock opened at $212.71 on Friday. Regal Rexnord Corporation has a twelve month low of $108.44 and a twelve month high of $229.30. The stock’s fifty day simple moving average is $200.32 and its 200-day simple moving average is $170.79. The company has a current ratio of 2.15, a quick ratio of 1.10 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $14.16 billion, a P/E ratio of 50.64, a P/E/G ratio of 1.98 and a beta of 1.15.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings data on Thursday, February 5th. The company reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. Regal Rexnord had a return on equity of 9.60% and a net margin of 4.71%.The business had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same quarter in the prior year, the company earned $2.34 earnings per share. The company’s revenue was up 4.3% on a year-over-year basis. As a group, equities analysts expect that Regal Rexnord Corporation will post 10.73 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 30th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, June 30th. Regal Rexnord’s dividend payout ratio is 33.33%.

Insiders Place Their Bets

In related news, Director Curtis W. Stoelting sold 4,500 shares of the stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $180.00, for a total value of $810,000.00. Following the transaction, the director owned 15,617 shares of the company’s stock, valued at $2,811,060. This represents a 22.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Cheryl Lewis sold 2,262 shares of the stock in a transaction on Monday, February 9th. The shares were sold at an average price of $215.73, for a total value of $487,981.26. Following the completion of the transaction, the executive vice president directly owned 13,219 shares in the company, valued at $2,851,734.87. This trade represents a 14.61% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 53,451 shares of company stock worth $11,386,689. 0.63% of the stock is owned by corporate insiders.

Regal Rexnord Profile

Regal Rexnord Corporation (NYSE: RRX) is a global industrial manufacturer specializing in electric motors, power generation equipment and automated motion control systems. The company designs, engineers and produces a broad portfolio of products that includes energy-efficient electric motors, variable frequency drives, gearboxes, couplings, bearings and power transmission components. These offerings support critical applications in industries such as heating, ventilation and air conditioning (HVAC), refrigeration, data centers, water treatment, food and beverage processing, mining, oil and gas, and material handling.

The company’s operations are organized into multiple business segments that address distinct customer needs.