Leeward Investments LLC MA lessened its holdings in shares of Regal Rexnord Corporation (NYSE:RRX – Free Report) by 5.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 219,686 shares of the company’s stock after selling 12,880 shares during the quarter. Regal Rexnord comprises 2.0% of Leeward Investments LLC MA’s investment portfolio, making the stock its 3rd largest position. Leeward Investments LLC MA owned about 0.33% of Regal Rexnord worth $41,138,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Covestor Ltd raised its stake in Regal Rexnord by 81.6% in the fourth quarter. Covestor Ltd now owns 178 shares of the company’s stock valued at $25,000 after purchasing an additional 80 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new position in Regal Rexnord in the 3rd quarter worth approximately $27,000. Garner Asset Management Corp bought a new position in shares of Regal Rexnord in the 4th quarter worth $27,000. IFP Advisors Inc increased its holdings in shares of Regal Rexnord by 34.0% in the 4th quarter. IFP Advisors Inc now owns 193 shares of the company’s stock worth $27,000 after buying an additional 49 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its holdings in shares of Regal Rexnord by 135.1% in 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 last quarter. Hedge funds and other institutional investors own 99.72% of the company’s stock.
Regal Rexnord Price Performance
Shares of Regal Rexnord stock opened at $218.08 on Wednesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.17 and a quick ratio of 1.08. Regal Rexnord Corporation has a one year low of $127.96 and a one year high of $236.35. The business’s 50 day simple moving average is $209.42 and its two-hundred day simple moving average is $188.60. The stock has a market capitalization of $14.52 billion, a P/E ratio of 50.72, a price-to-earnings-growth ratio of 2.17 and a beta of 1.11.
Regal Rexnord Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Tuesday, June 30th. Regal Rexnord’s dividend payout ratio is 32.56%.
Insider Activity
In other news, CFO Robert Rehard sold 6,499 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $200.00, for a total transaction of $1,299,800.00. Following the transaction, the chief financial officer directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robin A. Walker-Lee sold 1,297 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $213.85, for a total value of $277,363.45. Following the transaction, the director owned 5,503 shares of the company’s stock, 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. Over the last ninety days, insiders sold 30,305 shares of company stock valued at $6,341,869. Insiders own 0.63% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms have recently issued reports on RRX. UBS Group set a $260.00 price objective on shares of Regal Rexnord in a report on Monday, June 15th. DA Davidson initiated coverage on Regal Rexnord in a research note on Tuesday, June 16th. They issued a “buy” rating and a $260.00 target price on the stock. Wall Street Zen downgraded Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, April 28th. Citigroup upped their price objective on Regal Rexnord from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Monday, April 13th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Regal Rexnord in a report on Tuesday, April 21st. Seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $237.80.
Check Out Our Latest Analysis on Regal Rexnord
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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