Regal Rexnord Corporation $RRX Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank increased its position in Regal Rexnord Corporation (NYSE:RRX) by 42.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 25,793 shares of the company’s stock after acquiring an additional 7,647 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Regal Rexnord were worth $3,619,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of RRX. Geneos Wealth Management Inc. grew its holdings in shares of Regal Rexnord by 135.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock worth $25,000 after acquiring an additional 127 shares during the period. Aster Capital Management DIFC Ltd acquired a new stake in shares of Regal Rexnord in the 3rd quarter worth approximately $27,000. Root Financial Partners LLC acquired a new stake in shares of Regal Rexnord in the 3rd quarter worth approximately $28,000. SJS Investment Consulting Inc. grew its holdings in shares of Regal Rexnord by 95.1% in the 3rd quarter. SJS Investment Consulting Inc. now owns 199 shares of the company’s stock worth $29,000 after acquiring an additional 97 shares during the period. Finally, Advisory Services Network LLC acquired a new stake in shares of Regal Rexnord in the 3rd quarter worth approximately $35,000. Institutional investors and hedge funds own 99.72% of the company’s stock.

Insider Buying and Selling

In related news, CFO Robert Rehard sold 968 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $223.00, for a total transaction of $215,864.00. Following the sale, the chief financial officer owned 34,447 shares in the company, valued at approximately $7,681,681. This trade represents a 2.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Cheryl Lewis sold 2,262 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $215.73, for a total transaction of $487,981.26. Following the sale, the executive vice president owned 13,219 shares in the company, valued at approximately $2,851,734.87. This trade represents a 14.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 53,451 shares of company stock worth $11,386,689. 0.63% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on RRX shares. Wall Street Zen upgraded shares of Regal Rexnord from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 20th. Oppenheimer boosted their price objective on shares of Regal Rexnord from $180.00 to $225.00 and gave the stock an “outperform” rating in a research report on Friday, February 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Regal Rexnord in a research report on Tuesday. Zacks Research upgraded shares of Regal Rexnord from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 30th. Finally, Barclays boosted their price objective on shares of Regal Rexnord from $237.00 to $245.00 and gave the stock an “overweight” rating in a research report on Monday, March 23rd. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $229.75.

Regal Rexnord Trading Down 0.6%

Shares of Regal Rexnord stock opened at $212.24 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.15 and a quick ratio of 1.10. Regal Rexnord Corporation has a 1 year low of $102.23 and a 1 year high of $229.30. The company has a market capitalization of $14.13 billion, a P/E ratio of 50.53, a P/E/G ratio of 1.98 and a beta of 1.11. The business has a 50 day moving average price of $200.90 and a 200 day moving average price of $168.86.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings data on Thursday, February 5th. The company reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. The firm had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Regal Rexnord had a return on equity of 9.60% and a net margin of 4.71%.The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.34 EPS. Sell-side analysts anticipate that Regal Rexnord Corporation will post 10.76 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 14th. Investors of record on Tuesday, March 31st were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Tuesday, March 31st. Regal Rexnord’s dividend payout ratio (DPR) is currently 33.33%.

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.