Regal Rexnord Corporation $RRX Shares Sold by Hudson Edge Investment Partners Inc.

Hudson Edge Investment Partners Inc. decreased its stake in shares of Regal Rexnord Corporation (NYSE:RRX) by 35.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,639 shares of the company’s stock after selling 2,543 shares during the quarter. Hudson Edge Investment Partners Inc.’s holdings in Regal Rexnord were worth $869,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Covestor Ltd increased its stake in shares of Regal Rexnord by 81.6% during the fourth quarter. Covestor Ltd now owns 178 shares of the company’s stock worth $25,000 after buying an additional 80 shares during the period. Geneos Wealth Management Inc. increased its position in shares of Regal Rexnord by 135.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock valued at $25,000 after purchasing an additional 127 shares during the last quarter. Garner Asset Management Corp acquired a new stake in shares of Regal Rexnord in the 4th quarter valued at $27,000. IFP Advisors Inc lifted its position in shares of Regal Rexnord by 34.0% during the 4th quarter. IFP Advisors Inc now owns 193 shares of the company’s stock worth $27,000 after purchasing an additional 49 shares during the last quarter. Finally, Advisory Services Network LLC acquired a new position in shares of Regal Rexnord during the third quarter worth $35,000. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Regal Rexnord Stock Down 0.0%

Regal Rexnord stock opened at $218.39 on Friday. The company has a market capitalization of $14.54 billion, a P/E ratio of 50.79, a PEG ratio of 2.05 and a beta of 1.08. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.08 and a current ratio of 2.17. Regal Rexnord Corporation has a fifty-two week low of $127.96 and a fifty-two week high of $247.80. The stock has a 50-day simple moving average of $212.33 and a 200-day simple moving average of $192.54.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings results on Thursday, May 7th. The company reported $2.17 EPS for the quarter, topping the consensus estimate of $2.11 by $0.06. Regal Rexnord had a return on equity of 9.49% and a net margin of 4.78%.The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the previous year, the company posted $2.15 earnings per share. The firm’s revenue was up 4.3% compared to the same quarter last year. Equities research analysts expect that Regal Rexnord Corporation will post 10.64 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Tuesday, June 30th. Regal Rexnord’s payout ratio is presently 32.56%.

Insider Activity

In other Regal Rexnord news, CEO Louis V. Pinkham sold 22,509 shares of the firm’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 transaction, the chief executive officer directly owned 56,749 shares of the company’s stock, valued at approximately $12,012,628.32. This trade represents a 28.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robin A. Walker-Lee sold 1,297 shares of Regal Rexnord 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 transaction, the director owned 5,503 shares in the company, valued at approximately $1,176,816.55. This represents a 19.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 30,305 shares of company stock valued at $6,341,869 in the last ninety days. 0.63% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on RRX shares. DA Davidson assumed coverage on Regal Rexnord in a research note on Tuesday, June 16th. They issued a “buy” rating and a $260.00 price target on the stock. Wall Street Zen raised Regal Rexnord from a “buy” rating to a “strong-buy” rating in a research report on Saturday. JPMorgan Chase & Co. boosted their target price on Regal Rexnord from $230.00 to $240.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. UBS Group set a $260.00 price target on shares of Regal Rexnord in a research note on Monday, June 15th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Regal Rexnord in a research report on Tuesday, April 21st. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Regal Rexnord has a consensus rating of “Moderate Buy” and a consensus price target of $237.80.

Regal Rexnord Company 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.