UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 83,823 Shares of Regal Rexnord Co. (NYSE:RRX)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) by 6.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,289,917 shares of the company's stock after buying an additional 83,823 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 1.95% of Regal Rexnord worth $213,971,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. purchased a new stake in Regal Rexnord during the second quarter valued at about $1,173,000. PNC Financial Services Group Inc. raised its position in Regal Rexnord by 29.2% during the third quarter. PNC Financial Services Group Inc. now owns 12,311 shares of the company's stock valued at $2,042,000 after purchasing an additional 2,783 shares in the last quarter. Natixis Advisors LLC raised its position in Regal Rexnord by 15.3% during the third quarter. Natixis Advisors LLC now owns 86,933 shares of the company's stock valued at $14,420,000 after purchasing an additional 11,568 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Regal Rexnord by 31.4% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 19,686 shares of the company's stock valued at $2,662,000 after purchasing an additional 4,701 shares in the last quarter. Finally, Texas Permanent School Fund Corp raised its position in Regal Rexnord by 7.0% during the second quarter. Texas Permanent School Fund Corp now owns 62,101 shares of the company's stock valued at $8,397,000 after purchasing an additional 4,076 shares in the last quarter. Institutional investors own 99.72% of the company's stock.

Regal Rexnord Trading Up 1.8 %

NYSE:RRX traded up $3.05 during mid-day trading on Friday, reaching $172.71. 273,458 shares of the company's stock traded hands, compared to its average volume of 544,515. Regal Rexnord Co. has a 12-month low of $117.32 and a 12-month high of $185.28. The firm has a market capitalization of $11.44 billion, a price-to-earnings ratio of 54.48, a PEG ratio of 1.87 and a beta of 1.04. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.45 and a quick ratio of 1.35. The company has a 50 day moving average price of $170.84 and a 200-day moving average price of $157.64.

Regal Rexnord (NYSE:RRX - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The company reported $2.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.48 by $0.01. Regal Rexnord had a return on equity of 9.48% and a net margin of 3.41%. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the previous year, the business earned $2.10 EPS. Regal Rexnord's revenue was down 10.4% compared to the same quarter last year. On average, sell-side analysts predict that Regal Rexnord Co. will post 9.25 earnings per share for the current year.

Regal Rexnord Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.40 annualized dividend and a yield of 0.81%. Regal Rexnord's payout ratio is 44.16%.

Insider Buying and Selling at Regal Rexnord

In other Regal Rexnord news, CEO Louis V. Pinkham sold 8,774 shares of Regal Rexnord stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $180.03, for a total transaction of $1,579,583.22. Following the sale, the chief executive officer now directly owns 149,618 shares of the company's stock, valued at approximately $26,935,728.54. The trade was a 5.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.82% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on RRX. Citigroup began coverage on Regal Rexnord in a research report on Monday, October 14th. They set a "buy" rating and a $200.00 price target on the stock. StockNews.com upgraded Regal Rexnord from a "hold" rating to a "buy" rating in a research report on Wednesday, October 16th. Barclays lifted their price objective on Regal Rexnord from $180.00 to $190.00 and gave the stock an "overweight" rating in a report on Wednesday, October 2nd. Robert W. Baird decreased their price objective on Regal Rexnord from $223.00 to $208.00 and set an "outperform" rating on the stock in a report on Wednesday, November 6th. Finally, Loop Capital reiterated a "buy" rating and issued a $200.00 price objective on shares of Regal Rexnord in a report on Thursday, September 19th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $193.00.

About Regal Rexnord

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.