Erste Asset Management GmbH Buys 6,874 Shares of Regal Rexnord Corporation $RRX

Erste Asset Management GmbH boosted its stake in shares of Regal Rexnord Corporation (NYSE:RRX) by 14.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 54,817 shares of the company’s stock after acquiring an additional 6,874 shares during the quarter. Erste Asset Management GmbH’s holdings in Regal Rexnord were worth $7,868,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Covestor Ltd grew its holdings in Regal Rexnord by 81.6% during the 4th quarter. Covestor Ltd now owns 178 shares of the company’s stock worth $25,000 after acquiring an additional 80 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new stake in Regal Rexnord during the 3rd quarter worth about $27,000. Garner Asset Management Corp bought a new stake in Regal Rexnord during the 4th quarter worth about $27,000. IFP Advisors Inc grew its holdings in 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 acquiring an additional 49 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its holdings in Regal Rexnord by 135.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock worth $25,000 after acquiring an additional 127 shares during the last quarter. Institutional investors own 99.72% of the company’s stock.

Insider Buying and Selling

In related news, Director Robin A. Walker-Lee sold 1,297 shares of Regal Rexnord stock in a transaction that occurred 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 transaction, the director owned 5,503 shares of the company’s stock, valued at $1,176,816.55. This trade represents a 19.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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 have sold 30,305 shares of company stock valued at $6,341,869 in the last 90 days. 0.63% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

RRX has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Regal Rexnord from $230.00 to $240.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Barclays increased their price objective on shares of Regal Rexnord from $237.00 to $245.00 and gave the stock an “overweight” rating in a report on Monday, March 23rd. The Goldman Sachs Group increased their price objective on shares of Regal Rexnord from $170.00 to $230.00 and gave the stock a “buy” rating in a report on Monday, February 9th. Weiss Ratings reissued a “hold (c)” rating on shares of Regal Rexnord in a report on Tuesday, April 21st. Finally, Citigroup upped their target price on shares of Regal Rexnord from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Monday, April 13th. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $232.25.

Regal Rexnord Stock Performance

Regal Rexnord stock opened at $210.02 on Tuesday. 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 company has a market cap of $13.98 billion, a PE ratio of 48.84, a PEG ratio of 1.92 and a beta of 1.11. The company’s 50-day moving average is $203.32 and its two-hundred day moving average is $182.59.

Regal Rexnord (NYSE:RRX) last released its earnings results on Thursday, May 7th. The company reported $2.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.11 by $0.06. Regal Rexnord had a net margin of 4.78% and a return on equity of 9.49%. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the prior year, the company posted $2.15 EPS. The company’s revenue was up 4.3% compared to the same quarter last year. Equities analysts anticipate that Regal Rexnord Corporation will post 10.63 earnings per share for the current year.

Regal Rexnord Announces Dividend

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

About Regal Rexnord

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.