Deutsche Bank AG Sells 1,829 Shares of Regal Rexnord Co. (NYSE:RRX)

Deutsche Bank AG lessened its position in Regal Rexnord Co. (NYSE:RRX) by 12.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,414 shares of the company’s stock after selling 1,829 shares during the period. Deutsche Bank AG’s holdings in Regal Rexnord were worth $1,926,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Skandinaviska Enskilda Banken AB publ raised its stake in Regal Rexnord by 472.4% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company’s stock worth $25,000 after purchasing an additional 137 shares in the last quarter. Bernard Wealth Management Corp. bought a new stake in Regal Rexnord during the 4th quarter worth $30,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Regal Rexnord in the fourth quarter valued at approximately $33,000. Tobam bought a new position in shares of Regal Rexnord during the fourth quarter valued at $45,000. Finally, Jones Financial Companies Lllp lifted its holdings in Regal Rexnord by 90.5% during the 4th 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. Institutional investors own 99.72% of the company’s stock.

Insider Buying and Selling at Regal Rexnord

In other news, CEO Louis V. Pinkham sold 10,593 shares of the company’s stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $140.33, for a total value of $1,486,515.69. Following the transaction, the chief executive officer now directly owns 175,954 shares in the company, valued at approximately $24,691,624.82. This represents a 5.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.82% of the company’s stock.

Regal Rexnord Stock Performance

Shares of NYSE RRX opened at $134.58 on Friday. The firm’s 50-day moving average price is $116.02 and its 200-day moving average price is $140.56. The company has a market cap of $8.93 billion, a PE ratio of 45.62, a PEG ratio of 1.37 and a beta of 1.11. The company has a quick ratio of 1.25, a current ratio of 2.26 and a debt-to-equity ratio of 0.87. Regal Rexnord Co. has a 52-week low of $90.56 and a 52-week high of $185.28.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings results 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. Regal Rexnord had a return on equity of 9.57% and a net margin of 3.25%. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the previous year, the company posted $2.00 earnings per share. Regal Rexnord’s revenue for the quarter was down 8.4% on a year-over-year basis. As a group, analysts anticipate that Regal Rexnord Co. will post 9.95 EPS for the current year.

Regal Rexnord Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 14th. Stockholders of record on Monday, June 30th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.04%. Regal Rexnord’s dividend payout ratio (DPR) is presently 39.89%.

Analysts Set New Price Targets

Several brokerages have issued reports on RRX. Wall Street Zen raised Regal Rexnord from a “buy” rating to a “strong-buy” rating in a research note on Thursday. The Goldman Sachs Group cut their price objective on shares of Regal Rexnord from $183.00 to $163.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. KeyCorp cut their price objective on Regal Rexnord from $180.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Citigroup lifted their price target on shares of Regal Rexnord from $110.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. Finally, Barclays boosted their price target on shares of Regal Rexnord from $155.00 to $160.00 and gave the company an “overweight” rating in a research report on Monday, May 12th. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $171.25.

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.