Swiss National Bank lifted its position in shares of Regal Rexnord Co. (NYSE:RRX – Free Report) by 1.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 144,217 shares of the company’s stock after acquiring an additional 1,400 shares during the quarter. Swiss National Bank owned approximately 0.22% of Regal Rexnord worth $22,195,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in RRX. Vanguard Group Inc. bought a new stake in shares of Regal Rexnord during the first quarter worth $978,777,000. Capital World Investors bought a new stake in shares of Regal Rexnord during the first quarter worth $793,975,000. State Street Corp bought a new stake in Regal Rexnord in the first quarter valued at about $266,837,000. Bank Julius Baer & Co. Ltd Zurich increased its holdings in Regal Rexnord by 98,060.5% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,203,448 shares of the company’s stock valued at $185,211,000 after purchasing an additional 1,202,222 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. increased its holdings in Regal Rexnord by 168.4% in the first quarter. Diamond Hill Capital Management Inc. now owns 1,848,402 shares of the company’s stock valued at $260,126,000 after purchasing an additional 1,159,687 shares during the last quarter. Institutional investors own 96.67% of the company’s stock.
Insider Transactions at Regal Rexnord
In other news, VP John Avampato sold 8,427 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $151.83, for a total transaction of $1,279,471.41. Following the completion of the transaction, the vice president now directly owns 12,953 shares of the company’s stock, valued at $1,966,653.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP John Avampato sold 8,427 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $151.83, for a total transaction of $1,279,471.41. Following the completion of the transaction, the vice president now directly owns 12,953 shares of the company’s stock, valued at $1,966,653.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Theodore D. Crandall purchased 2,000 shares of Regal Rexnord stock in a transaction that occurred on Tuesday, November 7th. The shares were bought at an average cost of $100.77 per share, with a total value of $201,540.00. Following the completion of the transaction, the director now directly owns 6,207 shares of the company’s stock, valued at approximately $625,479.39. The disclosure for this purchase can be found here. 0.98% of the stock is owned by insiders.
Regal Rexnord Stock Up 0.7 %
Regal Rexnord (NYSE:RRX – Get Free Report) last posted its quarterly earnings data on Wednesday, November 1st. The company reported $2.10 earnings per share for the quarter, missing the consensus estimate of $2.50 by ($0.40). The firm had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.73 billion. Regal Rexnord had a positive return on equity of 9.92% and a negative net margin of 0.20%. The firm’s quarterly revenue was up 24.5% on a year-over-year basis. During the same period in the prior year, the company earned $2.66 earnings per share. As a group, equities analysts expect that Regal Rexnord Co. will post 9.13 earnings per share for the current year.
Regal Rexnord Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Friday, December 29th will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, December 28th. This represents a $1.40 annualized dividend and a dividend yield of 1.21%. Regal Rexnord’s dividend payout ratio is currently -777.78%.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on RRX shares. Oppenheimer reiterated an “outperform” rating and issued a $200.00 price objective on shares of Regal Rexnord in a report on Wednesday, October 4th. KeyCorp dropped their price objective on Regal Rexnord from $184.00 to $148.00 and set an “overweight” rating for the company in a report on Thursday, November 2nd. TheStreet downgraded Regal Rexnord from a “b-” rating to a “c” rating in a report on Thursday, November 2nd. Robert W. Baird upped their price objective on Regal Rexnord from $184.00 to $211.00 and gave the company an “outperform” rating in a report on Wednesday, August 2nd. Finally, StockNews.com initiated coverage on Regal Rexnord in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $186.00.
Regal Rexnord 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. It operates in four segments: Commercial Systems, Industrial Systems, Climate Solutions, and Motion Control Solutions.
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