Brant Point Investment Management LLC Sells 5,500 Shares of Regal Rexnord Corporation $RRX

Brant Point Investment Management LLC trimmed its position in Regal Rexnord Corporation (NYSE:RRX) by 20.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,500 shares of the company’s stock after selling 5,500 shares during the period. Brant Point Investment Management LLC’s holdings in Regal Rexnord were worth $3,017,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. IFP Advisors Inc increased its position 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 acquiring an additional 49 shares during the last quarter. Parallel Advisors LLC increased its position in shares of Regal Rexnord by 6.5% in the fourth quarter. Parallel Advisors LLC now owns 888 shares of the company’s stock valued at $125,000 after acquiring an additional 54 shares during the last quarter. Northwestern Mutual Investment Management Company LLC increased its position in shares of Regal Rexnord by 0.4% in the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 14,855 shares of the company’s stock valued at $2,084,000 after acquiring an additional 60 shares during the last quarter. UMB Bank n.a. increased its position in shares of Regal Rexnord by 6.2% in the fourth quarter. UMB Bank n.a. now owns 1,023 shares of the company’s stock valued at $144,000 after acquiring an additional 60 shares during the last quarter. Finally, Allworth Financial LP increased its position in shares of Regal Rexnord by 35.9% in the third quarter. Allworth Financial LP now owns 265 shares of the company’s stock valued at $38,000 after acquiring an additional 70 shares during the last quarter. 99.72% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Regal Rexnord

In other Regal Rexnord news, CEO Louis V. Pinkham sold 22,509 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $211.68, for a total value of $4,764,705.12. Following the transaction, the chief executive officer directly owned 56,749 shares in the company, valued at $12,012,628.32. The trade was a 28.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robin A. Walker-Lee sold 1,297 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $213.85, for a total transaction of $277,363.45. Following the completion of the transaction, the director owned 5,503 shares in the company, valued at approximately $1,176,816.55. This represents a 19.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 30,305 shares of company stock worth $6,341,869 over the last ninety days. Insiders own 0.63% of the company’s stock.

Regal Rexnord Price Performance

Shares of NYSE RRX opened at $212.51 on Friday. The business’s 50 day moving average price is $205.28 and its two-hundred day moving average price is $184.40. The company has a market cap of $14.15 billion, a PE ratio of 49.42, a price-to-earnings-growth ratio of 2.00 and a beta of 1.11. The company has a quick ratio of 1.08, a current ratio of 2.17 and a debt-to-equity ratio of 0.69. Regal Rexnord Corporation has a twelve month low of $127.96 and a twelve month high of $236.35.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings data on Thursday, May 7th. The company reported $2.17 EPS for the quarter, topping analysts’ consensus estimates of $2.11 by $0.06. Regal Rexnord had a net margin of 4.78% and a return on equity of 9.49%. The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the previous year, the business posted $2.15 earnings per share. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. On average, analysts predict that Regal Rexnord Corporation will post 10.63 EPS for the current year.

Regal Rexnord Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 30th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Tuesday, June 30th. Regal Rexnord’s payout ratio is currently 32.56%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on RRX. Wall Street Zen downgraded Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, April 28th. Citigroup lifted their target price on Regal Rexnord from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Monday, April 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Regal Rexnord in a research report on Tuesday, April 21st. 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 report on Tuesday, May 26th. Finally, KeyCorp lifted their target price on Regal Rexnord from $255.00 to $265.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $232.25.

Regal Rexnord Company 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.