Regal Rexnord Corporation $RRX Shares Purchased by Bastion Asset Management Inc.

Bastion Asset Management Inc. grew its holdings in Regal Rexnord Corporation (NYSE:RRX) by 26.4% in the 1st quarter, Holdings Channel reports. The fund owned 59,369 shares of the company’s stock after purchasing an additional 12,387 shares during the quarter. Regal Rexnord accounts for 3.4% of Bastion Asset Management Inc.’s portfolio, making the stock its 4th biggest position. Bastion Asset Management Inc.’s holdings in Regal Rexnord were worth $11,106,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of RRX. Covestor Ltd grew its position in shares of Regal Rexnord by 81.6% in the 4th quarter. Covestor Ltd now owns 178 shares of the company’s stock valued at $25,000 after purchasing an additional 80 shares during the period. Geneos Wealth Management Inc. raised 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 buying an additional 127 shares during the period. Garner Asset Management Corp acquired a new stake in Regal Rexnord during the 4th quarter worth approximately $27,000. IFP Advisors Inc lifted its stake in Regal Rexnord by 34.0% in the fourth quarter. IFP Advisors Inc now owns 193 shares of the company’s stock valued at $27,000 after buying an additional 49 shares in the last quarter. Finally, Advisory Services Network LLC bought a new position in Regal Rexnord in the third quarter valued at approximately $35,000. Institutional investors and hedge funds own 99.72% of the company’s stock.

Insider Buying and Selling at Regal Rexnord

In other news, CFO Robert Rehard sold 6,499 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $200.00, for a total value of $1,299,800.00. Following the completion of the transaction, the chief financial officer owned 27,965 shares in the company, valued at $5,593,000. This trade represents a 18.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robin A. Walker-Lee sold 1,297 shares of Regal Rexnord stock in a transaction dated Monday, May 11th. The shares were 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 in the company, valued at approximately $1,176,816.55. This represents a 19.07% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 30,305 shares of company stock worth $6,341,869. Insiders own 0.63% of the company’s stock.

Regal Rexnord Price Performance

Shares of RRX opened at $212.04 on Friday. The stock has a market capitalization of $14.12 billion, a P/E ratio of 49.31, a P/E/G ratio of 2.00 and a beta of 1.08. Regal Rexnord Corporation has a twelve month low of $127.96 and a twelve month high of $247.80. The company has a 50 day moving average of $211.91 and a 200-day moving average of $197.20. The company has a quick ratio of 1.08, a current ratio of 2.17 and a debt-to-equity ratio of 0.69.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings data 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. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.43 billion. Regal Rexnord had a net margin of 4.78% and a return on equity of 9.49%. The firm’s revenue was up 4.3% compared to the same quarter last year. During the same period last year, the company earned $2.15 earnings per share. As a group, equities research analysts forecast that Regal Rexnord Corporation will post 10.64 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 30th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.7%. The ex-dividend date was Tuesday, June 30th. Regal Rexnord’s payout ratio is presently 32.56%.

Analyst Ratings Changes

RRX has been the subject of several research reports. UBS Group set a $260.00 price objective on shares of Regal Rexnord in a research report on Monday, June 15th. Barclays boosted their price objective on shares of Regal Rexnord from $237.00 to $245.00 and gave the company an “overweight” rating in a research report on Monday, March 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Regal Rexnord in a research note on Tuesday, April 21st. DA Davidson assumed coverage on Regal Rexnord in a report on Tuesday, June 16th. They set a “buy” rating and a $260.00 target price for the company. Finally, Oppenheimer reissued an “outperform” rating on shares of Regal Rexnord in a research note on Friday, July 10th. 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, Regal Rexnord presently has an average rating of “Moderate Buy” and an average price target of $243.45.

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.