Hsbc Holdings PLC Trims Stock Holdings in Regal Rexnord Corporation $RRX

Hsbc Holdings PLC reduced its position in Regal Rexnord Corporation (NYSE:RRX) by 32.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,173 shares of the company’s stock after selling 13,438 shares during the quarter. Hsbc Holdings PLC’s holdings in Regal Rexnord were worth $3,964,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Geneos Wealth Management Inc. boosted its stake in Regal Rexnord by 135.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock worth $25,000 after purchasing an additional 127 shares during the period. Covestor Ltd grew its position in Regal Rexnord by 81.6% during the 4th quarter. Covestor Ltd now owns 178 shares of the company’s stock worth $25,000 after purchasing an additional 80 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in Regal Rexnord in the third quarter valued at $27,000. Garner Asset Management Corp acquired a new position in Regal Rexnord in the fourth quarter valued at $27,000. Finally, IFP Advisors Inc raised its holdings in shares of Regal Rexnord by 34.0% in the fourth quarter. IFP Advisors Inc now owns 193 shares of the company’s stock valued at $27,000 after buying an additional 49 shares during the last quarter. 99.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on RRX shares. DA Davidson began coverage on shares of Regal Rexnord in a research note on Tuesday, June 16th. They set a “buy” rating and a $260.00 target price for the company. KeyCorp boosted their price target on Regal Rexnord from $255.00 to $265.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Barclays upped 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. Wall Street Zen cut Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, April 28th. Finally, JPMorgan Chase & Co. lifted their target price on Regal Rexnord from $230.00 to $240.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. Seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $237.80.

Regal Rexnord Stock Up 0.4%

Shares of Regal Rexnord stock opened at $220.63 on Monday. Regal Rexnord Corporation has a one year low of $127.96 and a one year high of $236.35. The company has a market cap of $14.69 billion, a P/E ratio of 51.31, a PEG ratio of 2.06 and a beta of 1.11. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.08 and a current ratio of 2.17. The firm has a fifty day moving average of $210.45 and a two-hundred day moving average of $190.24.

Regal Rexnord (NYSE:RRX) last issued its earnings results on Thursday, May 7th. The company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $2.11 by $0.06. Regal Rexnord had a net margin of 4.78% and a return on equity of 9.49%. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the previous year, the firm earned $2.15 earnings per share. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. On average, analysts forecast that Regal Rexnord Corporation will post 10.64 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 30th will be given a $0.35 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $1.40 dividend on an annualized basis and a yield of 0.6%. Regal Rexnord’s dividend payout ratio (DPR) is presently 32.56%.

Insider Buying and Selling at Regal Rexnord

In other Regal Rexnord news, CFO Robert Rehard sold 6,499 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $200.00, for a total transaction of $1,299,800.00. Following the transaction, the chief financial officer owned 27,965 shares in the company, valued at approximately $5,593,000. The trade was a 18.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Louis V. Pinkham sold 22,509 shares of the business’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 value of $4,764,705.12. Following the transaction, the chief executive officer owned 56,749 shares in the company, valued at $12,012,628.32. The trade was a 28.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 30,305 shares of company stock valued at $6,341,869. 0.63% of the stock is owned by corporate insiders.

Regal Rexnord Profile

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.