Teachers Retirement System of The State of Kentucky cut its stake in Regal Rexnord Corporation (NYSE:RRX – Free Report) by 20.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 98,705 shares of the company’s stock after selling 25,300 shares during the period. Teachers Retirement System of The State of Kentucky owned approximately 0.15% of Regal Rexnord worth $18,483,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Covestor Ltd lifted its stake in shares of 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 buying an additional 80 shares during the period. Garner Asset Management Corp acquired a new stake in Regal Rexnord during the fourth quarter worth about $27,000. IFP Advisors Inc increased its stake in Regal Rexnord by 34.0% during the fourth quarter. IFP Advisors Inc now owns 193 shares of the company’s stock valued at $27,000 after acquiring an additional 49 shares during the period. Geneos Wealth Management Inc. raised its holdings 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 acquiring an additional 127 shares in the last quarter. Finally, Advisory Services Network LLC acquired a new position in Regal Rexnord in the 3rd quarter valued at approximately $35,000. Institutional investors own 99.72% of the company’s stock.
Insider Transactions at Regal Rexnord
In other news, CFO Robert Rehard sold 6,499 shares of the company’s stock in a transaction 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 owned 27,965 shares of the company’s stock, valued at $5,593,000. This represents a 18.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robin A. Walker-Lee sold 1,297 shares of Regal Rexnord stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $213.85, for a total value of $277,363.45. Following the completion of the sale, the director owned 5,503 shares of the company’s stock, valued at approximately $1,176,816.55. The trade was a 19.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 30,305 shares of company stock worth $6,341,869 over the last 90 days. 0.63% of the stock is owned by insiders.
Wall Street Analyst Weigh In
View Our Latest Research Report on Regal Rexnord
Regal Rexnord Trading Down 2.9%
RRX opened at $208.59 on Tuesday. Regal Rexnord Corporation has a 1-year low of $127.96 and a 1-year high of $247.80. The stock has a market capitalization of $13.89 billion, a PE ratio of 48.51, a PEG ratio of 2.02 and a beta of 1.08. The company has a current ratio of 2.17, a quick ratio of 1.08 and a debt-to-equity ratio of 0.69. The firm has a 50-day moving average price of $212.34 and a two-hundred day moving average price of $195.78.
Regal Rexnord (NYSE:RRX – Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported $2.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.11 by $0.06. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.43 billion. Regal Rexnord had a net margin of 4.78% and a return on equity of 9.49%. Regal Rexnord’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the business earned $2.15 earnings per share. As a group, equities analysts anticipate that Regal Rexnord Corporation will post 10.64 earnings per share for the current fiscal year.
Regal Rexnord Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, June 30th. Regal Rexnord’s dividend payout ratio (DPR) is 32.56%.
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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