Eurizon Capital SGR S.p.A. Takes $386,000 Position in Regal Rexnord Corporation $RRX

Eurizon Capital SGR S.p.A. bought a new stake in Regal Rexnord Corporation (NYSE:RRX) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,738 shares of the company’s stock, valued at approximately $386,000.

A number of other large investors also recently made changes to their positions in the business. AQR Capital Management LLC grew its stake in shares of Regal Rexnord by 208.1% in the 1st quarter. AQR Capital Management LLC now owns 17,747 shares of the company’s stock valued at $2,011,000 after buying an additional 11,987 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in Regal Rexnord by 91.6% in the first quarter. Jones Financial Companies Lllp now owns 617 shares of the company’s stock worth $70,000 after purchasing an additional 295 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in Regal Rexnord by 135.1% in the first quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock worth $25,000 after purchasing an additional 127 shares in the last quarter. Cetera Investment Advisers boosted its stake in shares of Regal Rexnord by 6.7% during the 2nd quarter. Cetera Investment Advisers now owns 3,116 shares of the company’s stock worth $452,000 after acquiring an additional 196 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of Regal Rexnord during the 2nd quarter worth about $4,759,000. Institutional investors and hedge funds own 99.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Barclays increased their price target on Regal Rexnord from $237.00 to $245.00 and gave the company an “overweight” rating in a report on Monday, March 23rd. Citigroup increased their price target on Regal Rexnord from $230.00 to $240.00 and gave the company a “buy” rating in a report on Monday, April 13th. KeyCorp increased their price target on Regal Rexnord from $255.00 to $265.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Wall Street Zen downgraded Regal Rexnord from a “strong-buy” rating to a “buy” rating in a report on Tuesday, April 28th. Finally, The Goldman Sachs Group increased their price objective on Regal Rexnord from $170.00 to $230.00 and gave the company a “buy” rating in a research report on Monday, February 9th. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $232.25.

Insider Buying and Selling

In related news, Director Robin A. Walker-Lee sold 1,297 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $213.85, for a total value of $277,363.45. Following the completion of the transaction, the director directly owned 5,503 shares of the company’s stock, valued at $1,176,816.55. This trade represents a 19.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Louis V. Pinkham sold 22,509 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer directly owned 56,749 shares of the company’s stock, valued at approximately $12,012,628.32. This trade represents a 28.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 30,305 shares of company stock valued at $6,341,869 over the last ninety days. 0.63% of the stock is owned by company insiders.

Regal Rexnord Stock Up 0.9%

RRX opened at $215.87 on Thursday. Regal Rexnord Corporation has a 1-year low of $127.96 and a 1-year high of $236.35. The company has a current ratio of 2.17, a quick ratio of 1.08 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $14.37 billion, a price-to-earnings ratio of 50.20, a P/E/G ratio of 2.01 and a beta of 1.11. The business has a 50 day moving average of $202.17 and a 200-day moving average of $180.96.

Regal Rexnord (NYSE:RRX) last issued its earnings results on Thursday, May 7th. The company reported $2.17 EPS for the quarter, topping the consensus estimate of $2.11 by $0.06. The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Regal Rexnord had a return on equity of 9.49% and a net margin of 4.78%.Regal Rexnord’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period last year, the business earned $2.15 earnings per share. As a group, sell-side analysts anticipate that Regal Rexnord Corporation will post 10.63 earnings per share for the current year.

Regal Rexnord Announces Dividend

The company also recently announced 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. This represents a $1.40 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Tuesday, June 30th. Regal Rexnord’s dividend payout ratio (DPR) is 32.56%.

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.