American Trust Purchases New Holdings in Regal Rexnord Co. (NYSE:RRX)

American Trust purchased a new stake in shares of Regal Rexnord Co. (NYSE:RRXGet Rating) during the 1st quarter, HoldingsChannel reports. The institutional investor purchased 1,682 shares of the company’s stock, valued at approximately $250,000.

Several other institutional investors have also recently added to or reduced their stakes in RRX. Vanguard Group Inc. acquired a new position in shares of Regal Rexnord in the first quarter worth $978,777,000. BlackRock Inc. acquired a new position in shares of Regal Rexnord in the first quarter worth $843,575,000. Capital World Investors acquired a new position in shares of Regal Rexnord in the first quarter worth $793,975,000. Massachusetts Financial Services Co. MA acquired a new position in shares of Regal Rexnord in the first quarter worth $389,416,000. Finally, Dimensional Fund Advisors LP acquired a new position in shares of Regal Rexnord in the first quarter worth $333,305,000. Institutional investors and hedge funds own 97.00% of the company’s stock.

Insider Activity

In other news, insider John C. Kunze sold 1,155 shares of the company’s stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $136.88, for a total value of $158,096.40. Following the completion of the sale, the insider now directly owns 6,920 shares of the company’s stock, valued at $947,209.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.65% of the company’s stock.

Regal Rexnord Price Performance

Shares of RRX opened at $139.60 on Monday. Regal Rexnord Co. has a 1-year low of $108.28 and a 1-year high of $176.91. The stock has a market cap of $9.28 billion, a PE ratio of 24.93, a price-to-earnings-growth ratio of 1.31 and a beta of 1.23. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.76 and a quick ratio of 1.52. The firm has a fifty day moving average price of $135.22 and a 200 day moving average price of $133.67.

Regal Rexnord (NYSE:RRXGet Rating) last announced its quarterly earnings results on Monday, August 1st. The company reported $2.76 earnings per share for the quarter, beating analysts’ consensus estimates of $2.61 by $0.15. Regal Rexnord had a net margin of 6.99% and a return on equity of 11.15%. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the previous year, the company earned $2.28 earnings per share. Regal Rexnord’s quarterly revenue was up 52.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Regal Rexnord Co. will post 10.7 EPS for the current year.

Regal Rexnord Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be issued a $0.35 dividend. The ex-dividend date is Thursday, September 29th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.00%. Regal Rexnord’s payout ratio is 25.00%.

Wall Street Analyst Weigh In

Several research firms have commented on RRX. KeyCorp boosted their price target on shares of Regal Rexnord from $155.00 to $172.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 23rd. The Goldman Sachs Group lifted their price objective on shares of Regal Rexnord from $165.00 to $187.00 and gave the stock a “buy” rating in a research report on Wednesday, September 14th. Barclays lifted their price objective on shares of Regal Rexnord from $140.00 to $157.00 in a research report on Wednesday, August 3rd. Robert W. Baird lifted their price objective on shares of Regal Rexnord from $146.00 to $158.00 in a research report on Wednesday, August 3rd. Finally, StockNews.com raised shares of Regal Rexnord from a “hold” rating to a “buy” rating in a research report on Friday, July 8th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $173.40.

Regal Rexnord Company Profile

(Get Rating)

Regal Rexnord Corporation, together with its subsidiaries, designs, manufactures, and sells industrial powertrain solutions, power transmission components, electric motors and electronic controls, air moving products, and specialty electrical components and systems worldwide. It operates through four segments: Commercial Systems, Industrial Systems, Climate Solutions, and Motion Control Solutions.

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Institutional Ownership by Quarter for Regal Rexnord (NYSE:RRX)

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