Regal Rexnord Co. (NYSE:RRX) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets trimmed its holdings in shares of Regal Rexnord Co. (NYSE:RRX) by 2.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,473 shares of the company’s stock after selling 148 shares during the period. BNP Paribas Financial Markets’ holdings in Regal Rexnord were worth $1,004,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of RRX. Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Regal Rexnord by 472.4% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company’s stock valued at $25,000 after acquiring an additional 137 shares in the last quarter. Bernard Wealth Management Corp. purchased a new position in Regal Rexnord in the fourth quarter valued at about $30,000. Aster Capital Management DIFC Ltd purchased a new position in Regal Rexnord in the fourth quarter valued at about $33,000. Tobam acquired a new position in shares of Regal Rexnord during the fourth quarter worth about $45,000. Finally, Jones Financial Companies Lllp boosted its position in shares of Regal Rexnord by 90.5% in the fourth quarter. Jones Financial Companies Lllp now owns 322 shares of the company’s stock worth $50,000 after buying an additional 153 shares during the period. 99.72% of the stock is currently owned by hedge funds and other institutional investors.

Regal Rexnord Stock Performance

Shares of Regal Rexnord stock opened at $140.65 on Wednesday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.25 and a current ratio of 2.26. Regal Rexnord Co. has a 1 year low of $90.56 and a 1 year high of $185.28. The firm’s 50-day simple moving average is $115.00 and its 200-day simple moving average is $141.08. The firm has a market cap of $9.33 billion, a PE ratio of 47.68, a price-to-earnings-growth ratio of 1.37 and a beta of 1.11.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings data on Monday, May 5th. The company reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.33. The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.38 billion. Regal Rexnord had a return on equity of 9.57% and a net margin of 3.25%. Regal Rexnord’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.00 earnings per share. Equities analysts forecast that Regal Rexnord Co. will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 14th. Investors of record on Monday, June 30th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend is Monday, June 30th. Regal Rexnord’s dividend payout ratio (DPR) is presently 39.89%.

Wall Street Analyst Weigh In

RRX has been the topic of several recent research reports. Barclays boosted their price target on Regal Rexnord from $155.00 to $160.00 and gave the stock an “overweight” rating in a research report on Monday, May 12th. The Goldman Sachs Group reduced their target price on shares of Regal Rexnord from $183.00 to $163.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. KeyCorp lowered their price target on shares of Regal Rexnord from $180.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. StockNews.com downgraded shares of Regal Rexnord from a “buy” rating to a “hold” rating in a research note on Wednesday, April 16th. Finally, Citigroup upped their price objective on shares of Regal Rexnord from $110.00 to $145.00 and gave the company a “buy” rating in a research report on Thursday, May 8th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $171.25.

Insiders Place Their Bets

In other news, CEO Louis V. Pinkham sold 10,593 shares of the business’s stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $140.33, for a total transaction of $1,486,515.69. Following the completion of the transaction, the chief executive officer now owns 175,954 shares of the company’s stock, valued at approximately $24,691,624.82. The trade was a 5.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.82% of the stock is currently owned by corporate insiders.

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.