Blair William & Co. IL Sells 90 Shares of Regal Rexnord Corporation (NYSE:RRX)

Blair William & Co. IL lessened its holdings in shares of Regal Rexnord Corporation (NYSE:RRX) by 1.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,687 shares of the company’s stock after selling 90 shares during the quarter. Blair William & Co. IL’s holdings in Regal Rexnord were worth $534,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Diamond Hill Capital Management Inc. grew its holdings in shares of Regal Rexnord by 6.0% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 3,083,622 shares of the company’s stock valued at $351,070,000 after acquiring an additional 175,273 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Regal Rexnord by 4.2% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,882,369 shares of the company’s stock valued at $328,158,000 after acquiring an additional 115,564 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Regal Rexnord by 11.9% in the 1st quarter. Victory Capital Management Inc. now owns 2,436,848 shares of the company’s stock valued at $277,435,000 after acquiring an additional 259,885 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Regal Rexnord by 3.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,332,621 shares of the company’s stock valued at $206,729,000 after acquiring an additional 42,704 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its holdings in shares of Regal Rexnord by 79.8% in the 4th quarter. Nuveen Asset Management LLC now owns 899,688 shares of the company’s stock valued at $139,569,000 after acquiring an additional 399,267 shares in the last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.

Regal Rexnord Trading Down 0.7%

Shares of NYSE:RRX opened at $137.97 on Tuesday. Regal Rexnord Corporation has a 12-month low of $90.56 and a 12-month high of $185.28. The stock has a market cap of $9.16 billion, a PE ratio of 36.69, a P/E/G ratio of 1.41 and a beta of 1.18. The business has a 50 day moving average of $146.43 and a 200-day moving average of $132.49. The company has a quick ratio of 0.93, a current ratio of 2.00 and a debt-to-equity ratio of 0.72.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $2.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.42 by $0.06. Regal Rexnord had a return on equity of 9.73% and a net margin of 4.28%. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the previous year, the company posted $2.29 earnings per share. The business’s revenue was down 3.3% on a year-over-year basis. As a group, equities research analysts forecast that Regal Rexnord Corporation will post 9.95 earnings per share for the current year.

Regal Rexnord Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 14th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Tuesday, September 30th. Regal Rexnord’s payout ratio is currently 37.23%.

Insider Activity

In other news, CEO Louis V. Pinkham sold 10,593 shares of Regal Rexnord stock in a transaction that occurred on 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 completion of the sale, the chief executive officer directly owned 175,954 shares in the company, valued at approximately $24,691,624.82. The trade was a 5.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.82% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

RRX has been the subject of several analyst reports. Wall Street Zen upgraded Regal Rexnord from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 22nd. Robert W. Baird lifted their price target on Regal Rexnord from $167.00 to $172.00 and gave the stock an “outperform” rating in a report on Wednesday, May 7th. KeyCorp set a $180.00 price target on Regal Rexnord and gave the stock an “overweight” rating in a report on Thursday, June 26th. The Goldman Sachs Group lifted their price target on Regal Rexnord from $173.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th. Finally, Citigroup reiterated a “buy” rating and set a $165.00 price target (up previously from $145.00) on shares of Regal Rexnord in a report on Tuesday, June 24th. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $185.25.

About Regal Rexnord

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.