Regal Rexnord Co. (NYSE:RRX) Shares Sold by Steph & Co.

Steph & Co. lowered its stake in shares of Regal Rexnord Co. (NYSE:RRX) by 20.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,266 shares of the company’s stock after selling 1,094 shares during the period. Steph & Co.’s holdings in Regal Rexnord were worth $631,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Avior Wealth Management LLC boosted its stake in shares of Regal Rexnord by 10,066.7% in the fourth quarter. Avior Wealth Management LLC now owns 1,830 shares of the company’s stock valued at $271,000 after buying an additional 1,812 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Regal Rexnord by 10.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,480 shares of the company’s stock valued at $2,143,000 after purchasing an additional 1,397 shares during the period. Strs Ohio grew its position in Regal Rexnord by 4.0% during the fourth quarter. Strs Ohio now owns 10,063 shares of the company’s stock worth $1,489,000 after buying an additional 383 shares during the period. Vontobel Holding Ltd. increased its stake in Regal Rexnord by 6.3% in the 4th quarter. Vontobel Holding Ltd. now owns 489,506 shares of the company’s stock valued at $72,457,000 after purchasing an additional 29,018 shares in the last quarter. Finally, Louisiana State Employees Retirement System purchased a new stake in Regal Rexnord during the fourth quarter worth $2,753,000. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Regal Rexnord Stock Performance

Shares of NYSE RRX traded down $3.45 during trading on Wednesday, hitting $159.53. 353,363 shares of the company traded hands, compared to its average volume of 457,152. The company has a quick ratio of 1.59, a current ratio of 2.55 and a debt-to-equity ratio of 1.00. The company has a 50-day moving average price of $167.85 and a 200-day moving average price of $143.36. Regal Rexnord Co. has a 1 year low of $97.18 and a 1 year high of $183.85.

Regal Rexnord (NYSE:RRX) last posted its earnings results on Wednesday, February 7th. The company reported $2.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.02. Regal Rexnord had a negative net margin of 0.92% and a positive return on equity of 9.58%. The firm had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the prior year, the company earned $2.64 EPS. The company’s revenue was up 29.2% on a year-over-year basis. On average, analysts predict that Regal Rexnord Co. will post 10.05 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Thursday, March 28th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend was Wednesday, March 27th. Regal Rexnord’s payout ratio is -160.92%.

Analysts Set New Price Targets

RRX has been the subject of a number of analyst reports. Barclays boosted their price target on Regal Rexnord from $200.00 to $203.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. KeyCorp upped their target price on shares of Regal Rexnord from $180.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, March 25th. Finally, Oppenheimer lifted their price target on shares of Regal Rexnord from $185.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, March 13th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $197.00.

Insider Activity

In other news, EVP Thomas E. Valentyn sold 647 shares of Regal Rexnord stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $169.70, for a total transaction of $109,795.90. Following the sale, the executive vice president now owns 28,412 shares in the company, valued at $4,821,516.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Thomas E. Valentyn sold 647 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $169.70, for a total transaction of $109,795.90. Following the completion of the sale, the executive vice president now directly owns 28,412 shares in the company, valued at $4,821,516.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Thomas E. Valentyn sold 1,931 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $166.09, for a total value of $320,719.79. Following the completion of the sale, the executive vice president now directly owns 27,180 shares in the company, valued at approximately $4,514,326.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,570 shares of company stock worth $892,301. 0.82% of the stock is currently owned by corporate insiders.

Regal Rexnord Company Profile

Regal Rexnord Corporation manufactures and sells industrial powertrain solutions, power transmission components, electric motors and electronic controls, air moving products, and specialty electrical components and systems worldwide. The Industrial Powertrain Solutions segment provides mounted and unmounted bearings, couplings, mechanical power transmission drives and components, gearboxes, gear motors, clutches, brakes, special, and industrial powertrain components and solutions for food and beverage, bulk material handling, eCommerce/warehouse distribution, energy, mining, marine, agricultural machinery, turf and garden, and general industrial markets.