Zurcher Kantonalbank Zurich Cantonalbank Has $2.14 Million Stock Holdings in Regal Rexnord Co. (NYSE:RRX)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in Regal Rexnord Co. (NYSE:RRX) by 10.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,480 shares of the company’s stock after purchasing an additional 1,397 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Regal Rexnord were worth $2,143,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in RRX. Cary Street Partners Investment Advisory LLC boosted its stake in shares of Regal Rexnord by 652.2% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 173 shares of the company’s stock valued at $25,000 after purchasing an additional 150 shares in the last quarter. Global Retirement Partners LLC boosted its stake in shares of Regal Rexnord by 18.5% in the 3rd quarter. Global Retirement Partners LLC now owns 493 shares of the company’s stock valued at $68,000 after purchasing an additional 77 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Regal Rexnord by 11,000.0% in the 4th quarter. International Assets Investment Management LLC now owns 888 shares of the company’s stock valued at $131,000 after purchasing an additional 880 shares in the last quarter. Arlington Trust Co LLC bought a new position in shares of Regal Rexnord in the fourth quarter valued at about $140,000. Finally, NBC Securities Inc. bought a new position in shares of Regal Rexnord in the third quarter valued at about $177,000. Institutional investors and hedge funds own 99.72% of the company’s stock.

Regal Rexnord Price Performance

Shares of NYSE:RRX opened at $166.74 on Wednesday. Regal Rexnord Co. has a 1-year low of $97.18 and a 1-year high of $183.85. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.55 and a quick ratio of 1.59. The business has a 50-day moving average price of $169.57 and a two-hundred day moving average price of $144.34.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $2.28 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.02. The firm had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Regal Rexnord had a positive return on equity of 9.58% and a negative net margin of 0.92%. The company’s quarterly revenue was up 29.2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.64 EPS. On average, equities research analysts expect that Regal Rexnord Co. will post 10.05 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Thursday, March 28th were paid a $0.35 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.84%. Regal Rexnord’s dividend payout ratio (DPR) is presently -160.92%.

Insider Activity

In other news, EVP Jerrald R. Morton sold 2,992 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $154.34, for a total value of $461,785.28. Following the completion of the sale, the executive vice president now directly owns 15,884 shares of the company’s stock, valued at approximately $2,451,536.56. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP Thomas E. Valentyn sold 647 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $169.70, for a total value of $109,795.90. Following the completion of the transaction, the executive vice president now directly owns 28,412 shares in the company, valued at approximately $4,821,516.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jerrald R. Morton sold 2,992 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $154.34, for a total value of $461,785.28. Following the completion of the transaction, the executive vice president now owns 15,884 shares of the company’s stock, valued at $2,451,536.56. The disclosure for this sale can be found here. Insiders sold a total of 5,570 shares of company stock valued at $892,301 in the last ninety days. 0.82% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Oppenheimer lifted their price target on Regal Rexnord from $185.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, March 13th. KeyCorp lifted their price target on Regal Rexnord from $180.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, March 25th. Finally, Barclays lifted their price target on Regal Rexnord from $200.00 to $203.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $197.00.

Regal Rexnord Company 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.