Zurcher Kantonalbank Zurich Cantonalbank Acquires 1,397 Shares of Regal Rexnord Co. (NYSE:RRX)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Regal Rexnord Co. (NYSE:RRX) by 10.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,480 shares of the company’s stock after purchasing an additional 1,397 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Regal Rexnord were worth $2,143,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Cary Street Partners Investment Advisory LLC increased its holdings in Regal Rexnord by 652.2% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 173 shares of the company’s stock worth $25,000 after purchasing an additional 150 shares in the last quarter. Global Retirement Partners LLC increased its holdings in Regal Rexnord by 18.5% in the third quarter. Global Retirement Partners LLC now owns 493 shares of the company’s stock worth $68,000 after purchasing an additional 77 shares in the last quarter. International Assets Investment Management LLC increased its holdings in Regal Rexnord by 11,000.0% in the fourth quarter. International Assets Investment Management LLC now owns 888 shares of the company’s stock worth $131,000 after purchasing an additional 880 shares in the last quarter. Arlington Trust Co LLC bought a new stake in Regal Rexnord in the fourth quarter worth approximately $140,000. Finally, NBC Securities Inc. acquired a new stake in Regal Rexnord in the third quarter valued at approximately $177,000. 99.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

RRX has been the subject of a number of research reports. Barclays raised their price objective on Regal Rexnord from $200.00 to $203.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. Oppenheimer raised their price objective on Regal Rexnord from $185.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, March 13th. Finally, KeyCorp raised their price objective on Regal Rexnord from $180.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, March 25th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Regal Rexnord presently has a consensus rating of “Moderate Buy” and an average price target of $197.00.

Regal Rexnord Stock Performance

Shares of NYSE:RRX opened at $166.74 on Wednesday. The company has a quick ratio of 1.59, a current ratio of 2.55 and a debt-to-equity ratio of 1.00. Regal Rexnord Co. has a 12-month low of $97.18 and a 12-month high of $183.85. The business’s 50 day moving average is $169.57 and its 200 day moving average is $144.34.

Regal Rexnord (NYSE:RRX) last announced its earnings results on Wednesday, February 7th. The company reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.02. The company had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Regal Rexnord had a positive return on equity of 9.58% and a negative net margin of 0.92%. Regal Rexnord’s quarterly revenue was up 29.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.64 earnings per share. As a group, equities analysts predict that Regal Rexnord Co. will post 10.05 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Thursday, March 28th were given a $0.35 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $1.40 annualized dividend and a yield of 0.84%. Regal Rexnord’s dividend payout ratio is currently -160.92%.

Insiders Place Their Bets

In other Regal Rexnord news, EVP Thomas E. Valentyn sold 1,931 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $166.09, for a total value of $320,719.79. Following the transaction, the executive vice president now owns 27,180 shares of the company’s stock, valued at $4,514,326.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Regal Rexnord news, EVP Thomas E. Valentyn sold 1,931 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $166.09, for a total value of $320,719.79. Following the sale, the executive vice president now directly owns 27,180 shares in the company, valued at $4,514,326.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Thomas E. Valentyn sold 647 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $169.70, for a total value of $109,795.90. Following the completion of the sale, the executive vice president now owns 28,412 shares in the company, valued at $4,821,516.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,570 shares of company stock valued at $892,301. Insiders own 0.82% of the company’s stock.

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. 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.