Yousif Capital Management LLC Boosts Stake in Regal Rexnord Co. (NYSE:RRX)

Yousif Capital Management LLC increased its position in Regal Rexnord Co. (NYSE:RRX) by 0.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 31,743 shares of the company’s stock after purchasing an additional 77 shares during the period. Yousif Capital Management LLC’s holdings in Regal Rexnord were worth $4,699,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cary Street Partners Investment Advisory LLC lifted its holdings 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 during the last quarter. GAMMA Investing LLC purchased a new stake in Regal Rexnord during the 4th quarter valued at approximately $58,000. Global Retirement Partners LLC raised its stake in Regal Rexnord by 18.5% during the 3rd quarter. Global Retirement Partners LLC now owns 493 shares of the company’s stock valued at $68,000 after acquiring an additional 77 shares during the last quarter. CWM LLC raised its stake in Regal Rexnord by 48.5% during the 4th quarter. CWM LLC now owns 738 shares of the company’s stock valued at $109,000 after acquiring an additional 241 shares during the last quarter. Finally, International Assets Investment Management LLC raised its stake in Regal Rexnord by 11,000.0% during the 4th quarter. International Assets Investment Management LLC now owns 888 shares of the company’s stock valued at $131,000 after acquiring an additional 880 shares during the last quarter. 99.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on RRX shares. Barclays upped their price objective on Regal Rexnord from $200.00 to $203.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. KeyCorp upped their price objective on Regal Rexnord from $180.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, March 25th. Finally, Oppenheimer upped their price objective on Regal Rexnord from $185.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, March 13th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $197.00.

Regal Rexnord Stock Performance

NYSE RRX opened at $164.11 on Friday. The company has a current ratio of 2.55, a quick ratio of 1.59 and a debt-to-equity ratio of 1.00. The business’s 50 day moving average is $169.93 and its two-hundred day moving average is $144.82. Regal Rexnord Co. has a 12-month low of $97.18 and a 12-month high of $183.85. The stock has a market capitalization of $10.91 billion, a price-to-earnings ratio of -188.63, a PEG ratio of 1.61 and a beta of 1.14.

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

Regal Rexnord Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend is Friday, June 28th. Regal Rexnord’s dividend payout ratio is currently -160.92%.

Insider Buying and Selling

In related news, EVP Thomas E. Valentyn sold 1,931 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $166.09, for a total value of $320,719.79. Following the sale, the executive vice president now owns 27,180 shares in the company, valued at approximately $4,514,326.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Thomas E. Valentyn sold 1,931 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $166.09, for a total value of $320,719.79. Following the sale, the executive vice president now owns 27,180 shares in the company, valued at approximately $4,514,326.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Jerrald R. Morton sold 2,992 shares of the stock in a transaction 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 sale, the executive vice president now owns 15,884 shares in the company, valued at approximately $2,451,536.56. The disclosure for this sale can be found here. Insiders have sold a total of 5,570 shares of company stock worth $892,301 in the last quarter. Company insiders own 0.82% of the company’s stock.

About Regal Rexnord

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.