Regal Rexnord Co. (NYSE:RRX) Shares Sold by KBC Group NV

KBC Group NV reduced its position in shares of Regal Rexnord Co. (NYSE:RRXFree Report) by 87.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,167 shares of the company’s stock after selling 8,235 shares during the period. KBC Group NV’s holdings in Regal Rexnord were worth $173,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Cary Street Partners Investment Advisory LLC boosted its holdings in Regal Rexnord by 652.2% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 173 shares of the company’s stock worth $25,000 after buying an additional 150 shares in the last quarter. GAMMA Investing LLC acquired a new stake in shares of Regal Rexnord in the 4th quarter worth approximately $58,000. Benjamin F. Edwards & Company Inc. purchased a new position in Regal Rexnord in the 4th quarter valued at approximately $100,000. Global Retirement Partners LLC boosted its position in Regal Rexnord by 63.9% during the fourth quarter. Global Retirement Partners LLC now owns 808 shares of the company’s stock worth $109,000 after purchasing an additional 315 shares in the last quarter. Finally, CWM LLC grew its holdings 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 during the last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.

Regal Rexnord Price Performance

RRX opened at $142.69 on Tuesday. Regal Rexnord Co. has a 1 year low of $97.18 and a 1 year high of $183.85. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.56 and a current ratio of 2.62. The company’s 50 day simple moving average is $159.06 and its 200 day simple moving average is $153.26. The stock has a market capitalization of $9.49 billion, a PE ratio of -297.27, a P/E/G ratio of 1.44 and a beta of 1.10.

Regal Rexnord (NYSE:RRXGet Free Report) last released its quarterly earnings data on Monday, May 6th. The company reported $2.00 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.02. Regal Rexnord had a positive return on equity of 9.42% and a negative net margin of 0.48%. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same period in the prior year, the firm posted $2.22 EPS. The business’s revenue for the quarter was up 26.4% on a year-over-year basis. As a group, sell-side analysts expect that Regal Rexnord Co. will post 9.82 EPS for the current year.

Regal Rexnord Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend is Friday, June 28th. Regal Rexnord’s dividend payout ratio (DPR) is presently -291.67%.

Wall Street Analyst Weigh In

Several research firms recently commented on RRX. Robert W. Baird boosted their price objective on shares of Regal Rexnord from $205.00 to $208.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 8th. Oppenheimer increased their price target on shares of Regal Rexnord from $185.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, March 13th. KeyCorp lifted their price objective on Regal Rexnord from $180.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, March 25th. StockNews.com lowered Regal Rexnord from a “buy” rating to a “hold” rating in a research note on Monday. Finally, Barclays reduced their price objective on Regal Rexnord from $199.00 to $181.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 4th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $192.00.

View Our Latest Stock Analysis on RRX

Regal Rexnord Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Regal Rexnord (NYSE:RRX)

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