Swiss National Bank Sells 15,100 Shares of Regal Rexnord Co. (NYSE:RRX)

Swiss National Bank lessened its stake in Regal Rexnord Co. (NYSE:RRX) by 10.4% in the fourth quarter, Holdings Channel reports. The firm owned 130,617 shares of the company’s stock after selling 15,100 shares during the quarter. Swiss National Bank’s holdings in Regal Rexnord were worth $19,334,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cary Street Partners Investment Advisory LLC raised its stake 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 valued at $25,000 after purchasing an additional 150 shares in the last quarter. GAMMA Investing LLC acquired a new position in Regal Rexnord in the fourth quarter valued at about $58,000. Global Retirement Partners LLC raised its stake in Regal Rexnord by 63.9% in the fourth quarter. Global Retirement Partners LLC now owns 808 shares of the company’s stock valued at $109,000 after purchasing an additional 315 shares in the last quarter. CWM LLC raised its stake in Regal Rexnord by 48.5% in the fourth quarter. CWM LLC now owns 738 shares of the company’s stock valued at $109,000 after purchasing an additional 241 shares in the last quarter. Finally, International Assets Investment Management LLC raised its stake 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 valued at $131,000 after purchasing an additional 880 shares in the last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.

Insider Activity

In related news, EVP Jerrald R. Morton sold 2,992 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $154.34, for a total value of $461,785.28. Following the transaction, the executive vice president now owns 15,884 shares in the company, valued at $2,451,536.56. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, EVP Thomas E. Valentyn sold 647 shares of Regal Rexnord 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 approximately $4,821,516.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jerrald R. Morton sold 2,992 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $154.34, for a total transaction of $461,785.28. Following the transaction, the executive vice president now directly owns 15,884 shares in the company, valued at $2,451,536.56. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,570 shares of company stock valued at $892,301. 0.82% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have commented on RRX shares. KeyCorp boosted their target price on Regal Rexnord from $180.00 to $210.00 and gave the stock an “overweight” rating in a research note on Monday, March 25th. Robert W. Baird boosted their target price on Regal Rexnord from $205.00 to $208.00 and gave the stock an “outperform” rating in a research note on Wednesday. Oppenheimer boosted their target price on Regal Rexnord from $185.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 13th. Finally, Barclays lowered their target price on Regal Rexnord from $203.00 to $199.00 and set an “overweight” rating for the company in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Regal Rexnord has an average rating of “Moderate Buy” and an average price target of $195.60.

Regal Rexnord Stock Performance

NYSE RRX opened at $161.00 on Friday. The company has a market capitalization of $10.71 billion, a price-to-earnings ratio of -185.06, a PEG ratio of 1.64 and a beta of 1.16. 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 twelve month low of $97.18 and a twelve month high of $183.85. The stock has a fifty day simple moving average of $169.23 and a 200 day simple moving average of $146.78.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings results on Monday, May 6th. The company reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.02. The company had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.56 billion. Regal Rexnord had a positive return on equity of 9.58% and a negative net margin of 0.92%. The business’s quarterly revenue was up 26.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.22 earnings per share. Sell-side analysts expect that Regal Rexnord Co. will post 10.05 EPS for the current year.

Regal Rexnord Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be given a $0.35 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.87%. Regal Rexnord’s dividend payout ratio (DPR) is currently -160.92%.

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.