Bastion Asset Management Inc. grew its stake in Regal Rexnord Corporation (NYSE:RRX – Free Report) by 26.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 59,369 shares of the company’s stock after acquiring an additional 12,387 shares during the period. Regal Rexnord accounts for about 3.4% of Bastion Asset Management Inc.’s investment portfolio, making the stock its 4th biggest position. Bastion Asset Management Inc. owned approximately 0.09% of Regal Rexnord worth $11,106,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently modified their holdings of the stock. Bank of New York Mellon Corp grew its stake in shares of Regal Rexnord by 115.5% during the first quarter. Bank of New York Mellon Corp now owns 1,836,264 shares of the company’s stock valued at $343,859,000 after purchasing an additional 984,185 shares during the last quarter. Sanctuary Advisors LLC raised its position in Regal Rexnord by 5.7% in the 1st quarter. Sanctuary Advisors LLC now owns 2,029 shares of the company’s stock worth $380,000 after purchasing an additional 110 shares during the last quarter. Calamos Advisors LLC raised its position in Regal Rexnord by 37.3% in the 1st quarter. Calamos Advisors LLC now owns 35,000 shares of the company’s stock worth $6,554,000 after purchasing an additional 9,500 shares during the last quarter. State of Michigan Retirement System lifted its holdings in Regal Rexnord by 1.9% during the 1st quarter. State of Michigan Retirement System now owns 16,001 shares of the company’s stock worth $2,996,000 after buying an additional 300 shares in the last quarter. Finally, Innealta Capital LLC acquired a new position in Regal Rexnord during the 1st quarter worth $212,000. 99.72% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In other news, Director Robin A. Walker-Lee sold 1,297 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $213.85, for a total value of $277,363.45. Following the completion of the sale, the director directly owned 5,503 shares of the company’s stock, valued at $1,176,816.55. This represents a 19.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Louis V. Pinkham sold 22,509 shares of Regal Rexnord stock in a transaction that occurred on Monday, May 11th. The stock was 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 in the company, valued at $12,012,628.32. The trade was a 28.40% 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 valued at $6,341,869 in the last ninety days. 0.63% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
Get Our Latest Analysis on RRX
Regal Rexnord Stock Performance
RRX stock opened at $212.04 on Friday. Regal Rexnord Corporation has a twelve month low of $127.96 and a twelve month high of $247.80. The company has a quick ratio of 1.08, a current ratio of 2.17 and a debt-to-equity ratio of 0.69. The company has a market cap of $14.12 billion, a P/E ratio of 49.31, a price-to-earnings-growth ratio of 2.00 and a beta of 1.08. The business’s fifty day moving average is $211.91 and its 200-day moving average is $197.20.
Regal Rexnord (NYSE:RRX – Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $2.17 EPS 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 return on equity of 9.49% and a net margin of 4.78%.The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.15 earnings per share. Equities research analysts forecast that Regal Rexnord Corporation will post 10.64 EPS for the current year.
Regal Rexnord Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Tuesday, June 30th. Regal Rexnord’s payout ratio is presently 32.56%.
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.
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