392 Shares in Regal Rexnord Co. (NYSE:RRX) Bought by GAMMA Investing LLC

GAMMA Investing LLC bought a new position in Regal Rexnord Co. (NYSE:RRX) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 392 shares of the company’s stock, valued at approximately $58,000.

A number of other hedge funds also recently added to or reduced their stakes in RRX. Third Point LLC acquired a new position in Regal Rexnord during the 3rd quarter valued at about $92,872,000. William Blair Investment Management LLC bought a new position in Regal Rexnord in the 3rd quarter worth approximately $71,899,000. Allspring Global Investments Holdings LLC grew its holdings in Regal Rexnord by 80.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 509,265 shares of the company’s stock worth $75,382,000 after buying an additional 226,435 shares in the last quarter. Blackstone Inc. acquired a new stake in Regal Rexnord in the 3rd quarter valued at approximately $27,862,000. Finally, FMR LLC raised its stake in Regal Rexnord by 2.1% during the 3rd quarter. FMR LLC now owns 8,978,384 shares of the company’s stock valued at $1,282,831,000 after acquiring an additional 181,889 shares in the last quarter. 99.72% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Regal Rexnord

In other news, EVP Thomas E. Valentyn sold 647 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $169.70, for a total transaction of $109,795.90. Following the completion of the sale, the executive vice president now directly owns 28,412 shares of the company’s stock, valued at approximately $4,821,516.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Regal Rexnord news, EVP Jerrald R. Morton sold 2,992 shares of the firm’s stock in a transaction dated 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 directly owns 15,884 shares in the company, valued at $2,451,536.56. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Thomas E. Valentyn sold 647 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $169.70, for a total transaction of $109,795.90. Following the sale, the executive vice president now owns 28,412 shares in the company, valued at approximately $4,821,516.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,570 shares of company stock valued at $892,301. Corporate insiders own 0.82% of the company’s stock.

Regal Rexnord Trading Down 0.7 %

Shares of Regal Rexnord stock opened at $160.21 on Thursday. The business has a fifty day simple moving average of $170.06 and a 200-day simple moving average of $145.46. Regal Rexnord Co. has a fifty-two week low of $97.18 and a fifty-two week high of $183.85. The firm has a market cap of $10.65 billion, a price-to-earnings ratio of -184.15, a price-to-earnings-growth ratio of 1.65 and a beta of 1.14. The company has a quick ratio of 1.59, a current ratio of 2.55 and a debt-to-equity ratio of 1.00.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.02. The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.63 billion. Regal Rexnord had a negative net margin of 0.92% and a positive return on equity of 9.58%. Regal Rexnord’s revenue was up 29.2% on a year-over-year basis. During the same period in the prior year, the company earned $2.64 EPS. On average, equities analysts forecast that Regal Rexnord Co. will post 10.05 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be given a $0.35 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.40 annualized dividend and a yield of 0.87%. Regal Rexnord’s dividend payout ratio (DPR) is -160.92%.

Analyst Ratings Changes

Several research analysts have recently issued reports on RRX shares. Barclays increased their price target on Regal Rexnord from $200.00 to $203.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. KeyCorp upped their price objective on shares of Regal Rexnord from $180.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, March 25th. Finally, Oppenheimer raised their target price on shares of Regal Rexnord from $185.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, March 13th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Regal Rexnord has a consensus rating of “Moderate Buy” and an average price target 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.