Erste Asset Management GmbH Has $7.87 Million Stake in Regal Rexnord Corporation $RRX

Erste Asset Management GmbH boosted its holdings in shares of Regal Rexnord Corporation (NYSE:RRX) by 14.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 54,817 shares of the company’s stock after buying an additional 6,874 shares during the quarter. Erste Asset Management GmbH owned about 0.08% of Regal Rexnord worth $7,868,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. IFP Advisors Inc increased its position in Regal Rexnord by 34.0% during the fourth quarter. IFP Advisors Inc now owns 193 shares of the company’s stock worth $27,000 after buying an additional 49 shares during the last quarter. Parallel Advisors LLC increased its position in Regal Rexnord by 6.5% during the fourth quarter. Parallel Advisors LLC now owns 888 shares of the company’s stock worth $125,000 after buying an additional 54 shares during the last quarter. Northwestern Mutual Investment Management Company LLC increased its position in Regal Rexnord by 0.4% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 14,855 shares of the company’s stock worth $2,084,000 after buying an additional 60 shares during the last quarter. Allworth Financial LP increased its position in Regal Rexnord by 35.9% during the third quarter. Allworth Financial LP now owns 265 shares of the company’s stock worth $38,000 after buying an additional 70 shares during the last quarter. Finally, CWM LLC increased its position in Regal Rexnord by 7.2% during the fourth quarter. CWM LLC now owns 1,075 shares of the company’s stock worth $151,000 after buying an additional 72 shares during the last quarter. 99.72% of the stock is owned by institutional investors and hedge funds.

Regal Rexnord Price Performance

Shares of Regal Rexnord stock opened at $210.02 on Tuesday. The firm has a fifty day simple moving average of $203.32 and a 200-day simple moving average of $182.59. The company has a current ratio of 2.17, a quick ratio of 1.08 and a debt-to-equity ratio of 0.69. Regal Rexnord Corporation has a 1-year low of $127.96 and a 1-year high of $236.35. The stock has a market capitalization of $13.98 billion, a price-to-earnings ratio of 48.84, a PEG ratio of 1.92 and a beta of 1.11.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings data on Thursday, May 7th. The company reported $2.17 earnings per share for the quarter, topping analysts’ consensus estimates of $2.11 by $0.06. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Regal Rexnord had a net margin of 4.78% and a return on equity of 9.49%. Regal Rexnord’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.15 earnings per share. On average, sell-side analysts expect that Regal Rexnord Corporation will post 10.63 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 30th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.7%. The ex-dividend date is Tuesday, June 30th. Regal Rexnord’s dividend payout ratio is presently 32.56%.

Insider Activity at Regal Rexnord

In related news, CEO Louis V. Pinkham sold 22,509 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $211.68, for a total transaction of $4,764,705.12. Following the completion of the transaction, the chief executive officer directly owned 56,749 shares in the company, valued at $12,012,628.32. This represents a 28.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robin A. Walker-Lee sold 1,297 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $213.85, for a total transaction of $277,363.45. Following the completion of the sale, the director directly owned 5,503 shares in the company, valued at $1,176,816.55. This trade represents a 19.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 30,305 shares of company stock worth $6,341,869 in the last ninety days. 0.63% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on RRX. Weiss Ratings reissued a “hold (c)” rating on shares of Regal Rexnord in a research report on Tuesday, April 21st. KeyCorp boosted their price objective on shares of Regal Rexnord from $255.00 to $265.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Barclays boosted their price objective on shares of Regal Rexnord from $237.00 to $245.00 and gave the stock an “overweight” rating in a research note on Monday, March 23rd. The Goldman Sachs Group boosted their price objective on shares of Regal Rexnord from $170.00 to $230.00 and gave the stock a “buy” rating in a research note on Monday, February 9th. Finally, Wall Street Zen cut shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, April 28th. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $232.25.

Regal Rexnord Profile

Regal Rexnord Corporation (NYSE: RRX) is a global industrial manufacturer specializing in electric motors, power generation equipment and automated motion control systems. The company designs, engineers and produces a broad portfolio of products that includes energy-efficient electric motors, variable frequency drives, gearboxes, couplings, bearings and power transmission components. These offerings support critical applications in industries such as heating, ventilation and air conditioning (HVAC), refrigeration, data centers, water treatment, food and beverage processing, mining, oil and gas, and material handling.

The company’s operations are organized into multiple business segments that address distinct customer needs.