Erste Asset Management GmbH Acquires Shares of 37,403 Regal Rexnord Co. (NYSE:RRX)

Erste Asset Management GmbH purchased a new position in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 37,403 shares of the company's stock, valued at approximately $6,253,000. Erste Asset Management GmbH owned approximately 0.06% of Regal Rexnord as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of RRX. CIBC Asset Management Inc lifted its stake in Regal Rexnord by 3.2% in the 3rd quarter. CIBC Asset Management Inc now owns 1,960 shares of the company's stock valued at $325,000 after purchasing an additional 61 shares during the last quarter. Hengehold Capital Management LLC boosted its holdings in shares of Regal Rexnord by 1.5% during the 3rd quarter. Hengehold Capital Management LLC now owns 4,315 shares of the company's stock valued at $716,000 after acquiring an additional 65 shares in the last quarter. 1620 Investment Advisors Inc. grew its position in Regal Rexnord by 17.4% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 452 shares of the company's stock worth $75,000 after acquiring an additional 67 shares during the last quarter. GAMMA Investing LLC increased its holdings in Regal Rexnord by 13.9% in the 2nd quarter. GAMMA Investing LLC now owns 647 shares of the company's stock worth $87,000 after purchasing an additional 79 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Regal Rexnord by 2.7% during the third quarter. Nisa Investment Advisors LLC now owns 3,616 shares of the company's stock valued at $601,000 after purchasing an additional 95 shares in the last quarter. 99.72% of the stock is currently owned by institutional investors.

Insider Activity at Regal Rexnord

In other Regal Rexnord news, CEO Louis V. Pinkham sold 8,774 shares of the firm's stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $180.03, for a total value of $1,579,583.22. Following the transaction, the chief executive officer now directly owns 149,618 shares of the company's stock, valued at approximately $26,935,728.54. This trade represents a 5.54 % 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. 0.82% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Citigroup started coverage on Regal Rexnord in a research note on Monday, October 14th. They issued a "buy" rating and a $200.00 price objective for the company. Robert W. Baird cut their price target on shares of Regal Rexnord from $223.00 to $208.00 and set an "outperform" rating on the stock in a report on Wednesday, November 6th. StockNews.com upgraded Regal Rexnord from a "hold" rating to a "buy" rating in a report on Wednesday, October 16th. Barclays raised their target price on Regal Rexnord from $180.00 to $190.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 2nd. Finally, Loop Capital reiterated a "buy" rating and issued a $200.00 price target on shares of Regal Rexnord in a research report on Thursday, September 19th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, Regal Rexnord has a consensus rating of "Moderate Buy" and an average price target of $193.00.

Regal Rexnord Trading Up 0.2 %

Shares of Regal Rexnord stock traded up $0.40 on Tuesday, hitting $174.92. 456,752 shares of the company's stock traded hands, compared to its average volume of 455,197. The company has a market capitalization of $11.58 billion, a price-to-earnings ratio of 55.18, a price-to-earnings-growth ratio of 1.89 and a beta of 1.03. The company has a fifty day moving average of $171.10 and a two-hundred day moving average of $157.79. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.45 and a quick ratio of 1.35. Regal Rexnord Co. has a one year low of $122.49 and a one year high of $185.28.

Regal Rexnord (NYSE:RRX - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The company reported $2.49 EPS for the quarter, topping the consensus estimate of $2.48 by $0.01. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.53 billion. Regal Rexnord had a net margin of 3.41% and a return on equity of 9.48%. The company's quarterly revenue was down 10.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.10 EPS. As a group, sell-side analysts expect that Regal Rexnord Co. will post 9.25 earnings per share for the current year.

Regal Rexnord Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st will be paid a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.40 annualized dividend and a dividend yield of 0.80%. Regal Rexnord's dividend payout ratio is presently 44.16%.

Regal Rexnord 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.