Vontobel Holding Ltd. Purchases 13,564 Shares of Regal Rexnord Corporation $RRX

Vontobel Holding Ltd. raised its position in shares of Regal Rexnord Corporation (NYSE:RRX) by 5.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 276,266 shares of the company’s stock after purchasing an additional 13,564 shares during the quarter. Vontobel Holding Ltd.’s holdings in Regal Rexnord were worth $38,766,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. AIA Group Ltd bought a new stake in shares of Regal Rexnord during the 3rd quarter valued at about $1,477,000. American Century Companies Inc. bought a new stake in shares of Regal Rexnord during the 3rd quarter valued at about $47,778,000. Teachers Retirement System of The State of Kentucky grew its stake in shares of Regal Rexnord by 55.2% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 124,005 shares of the company’s stock valued at $17,788,000 after purchasing an additional 44,100 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Regal Rexnord by 97.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 260,853 shares of the company’s stock valued at $37,419,000 after purchasing an additional 128,468 shares during the period. Finally, Regents Gate Capital LLP bought a new stake in shares of Regal Rexnord during the 3rd quarter valued at about $2,540,000. 99.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on RRX shares. JPMorgan Chase & Co. boosted their price objective on Regal Rexnord from $230.00 to $240.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. Wall Street Zen downgraded Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, April 28th. KeyCorp boosted their price objective on Regal Rexnord from $255.00 to $265.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Barclays boosted their price objective on Regal Rexnord from $237.00 to $245.00 and gave the company an “overweight” rating in a research note on Monday, March 23rd. Finally, Citigroup boosted their price objective on Regal Rexnord from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Monday, April 13th. Six analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Regal Rexnord presently has a consensus rating of “Moderate Buy” and a consensus price target of $232.25.

Regal Rexnord Stock Up 0.6%

Shares of RRX opened at $212.51 on Friday. The stock has a market capitalization of $14.15 billion, a price-to-earnings ratio of 49.42, a price-to-earnings-growth ratio of 1.99 and a beta of 1.11. Regal Rexnord Corporation has a 1 year low of $127.96 and a 1 year high of $236.35. The business’s 50 day simple moving average is $205.28 and its 200-day simple moving average is $184.40. 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 (NYSE:RRX) last issued its quarterly earnings data on Thursday, May 7th. The company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.11 by $0.06. The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Regal Rexnord had a return on equity of 9.49% and a net margin of 4.78%.The company’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.15 EPS. As a group, equities analysts expect that Regal Rexnord Corporation will post 10.63 earnings per share for the current fiscal year.

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 issued a dividend of $0.35 per share. 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 is 32.56%.

Insider Transactions at Regal Rexnord

In other news, CEO Louis V. Pinkham sold 22,509 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $211.68, for a total transaction of $4,764,705.12. Following the sale, the chief executive officer directly owned 56,749 shares of the company’s stock, valued at $12,012,628.32. This represents a 28.40% 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, CFO Robert Rehard sold 6,499 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $200.00, for a total value of $1,299,800.00. Following the transaction, the chief financial officer directly owned 27,965 shares in the company, valued at approximately $5,593,000. This represents a 18.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 30,305 shares of company stock valued at $6,341,869 in the last ninety days. Corporate insiders own 0.63% of the company’s stock.

About Regal Rexnord

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.