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

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

A number of other institutional investors have also modified their holdings of the stock. Covestor Ltd raised 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 purchasing an additional 80 shares during the last quarter. Geneos Wealth Management Inc. grew its position in 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 buying an additional 127 shares during the last quarter. Garner Asset Management Corp acquired a new position in Regal Rexnord in the 4th quarter valued at $27,000. IFP Advisors Inc increased its stake in Regal Rexnord by 34.0% in the 4th quarter. IFP Advisors Inc now owns 193 shares of the company’s stock valued at $27,000 after buying an additional 49 shares during the period. Finally, Advisory Services Network LLC purchased a new position in Regal Rexnord during the 3rd quarter worth $35,000. Institutional investors and hedge funds own 99.72% of the company’s stock.

Regal Rexnord Price Performance

Shares of NYSE RRX opened at $218.39 on Friday. The firm 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. Regal Rexnord Corporation has a one year low of $127.96 and a one year high of $247.80. The company’s fifty day moving average is $212.33 and its two-hundred day moving average is $192.54. 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 (NYSE:RRX) last announced its quarterly 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 business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter last year, the firm posted $2.15 EPS. The business’s revenue was up 4.3% compared to the same quarter last year. Analysts forecast that Regal Rexnord Corporation will post 10.64 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The business 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. This represents a $1.40 annualized dividend and a yield of 0.6%. The ex-dividend date is Tuesday, June 30th. Regal Rexnord’s dividend payout ratio is presently 32.56%.

Analysts Set New Price Targets

RRX has been the subject of several recent analyst reports. Barclays raised their target price 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. KeyCorp boosted their price target 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. DA Davidson initiated coverage on shares of Regal Rexnord in a report on Tuesday, June 16th. They set a “buy” rating and a $260.00 price target for the company. Citigroup raised their price objective 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. Finally, Wall Street Zen raised Regal Rexnord from a “buy” rating to a “strong-buy” rating in a report on Saturday. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $237.80.

Insider Buying and Selling at Regal Rexnord

In other Regal Rexnord news, CEO Louis V. Pinkham sold 22,509 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $211.68, for a total value of $4,764,705.12. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Robert Rehard sold 6,499 shares of Regal Rexnord stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $200.00, for a total transaction of $1,299,800.00. Following the sale, the chief financial officer owned 27,965 shares of the company’s stock, valued at approximately $5,593,000. The trade was a 18.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 30,305 shares of company stock valued at $6,341,869. Corporate insiders own 0.63% of the company’s stock.

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.