17,709 Shares in Regal Rexnord Corporation $RRX Bought by Regents Gate Capital LLP

Regents Gate Capital LLP bought a new stake in Regal Rexnord Corporation (NYSE:RRX) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 17,709 shares of the company’s stock, valued at approximately $2,540,000.

Several other large investors also recently modified their holdings of RRX. Fisher Asset Management LLC lifted its holdings in shares of Regal Rexnord by 4.3% during the 3rd quarter. Fisher Asset Management LLC now owns 517,898 shares of the company’s stock valued at $74,288,000 after purchasing an additional 21,329 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in Regal Rexnord during the 3rd quarter worth approximately $57,807,000. American Century Companies Inc. acquired a new stake in Regal Rexnord during the 3rd quarter worth approximately $47,778,000. Aster Capital Management DIFC Ltd bought a new position in Regal Rexnord in the third quarter valued at approximately $27,000. Finally, Erste Asset Management GmbH boosted its holdings in shares of Regal Rexnord by 396.6% in the third quarter. Erste Asset Management GmbH now owns 47,943 shares of the company’s stock valued at $6,922,000 after buying an additional 38,288 shares during the period. 99.72% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Louis V. Pinkham sold 36,728 shares of the firm’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $215.52, for a total value of $7,915,618.56. Following the completion of the transaction, the chief executive officer directly owned 83,337 shares of the company’s stock, valued at approximately $17,960,790.24. This trade represents a 30.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Robert Rehard sold 968 shares of the business’s stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $223.00, for a total transaction of $215,864.00. Following the transaction, the chief financial officer owned 34,447 shares in the company, valued at approximately $7,681,681. The trade was a 2.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 53,451 shares of company stock worth $11,386,689. 0.82% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on RRX. Zacks Research upgraded shares of Regal Rexnord from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 30th. JPMorgan Chase & Co. increased their target price on Regal Rexnord from $190.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, February 6th. The Goldman Sachs Group lifted their price target on Regal Rexnord from $170.00 to $230.00 and gave the company a “buy” rating in a research note on Monday, February 9th. Barclays upped their price objective on Regal Rexnord from $165.00 to $237.00 and gave the stock an “overweight” rating in a research report on Monday, February 9th. Finally, Oppenheimer increased their price objective on Regal Rexnord from $180.00 to $225.00 and gave the stock an “outperform” rating in a report on Friday, February 6th. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $227.50.

Regal Rexnord Trading Up 0.0%

Regal Rexnord stock opened at $220.86 on Monday. The company has a market cap of $14.69 billion, a price-to-earnings ratio of 52.59, a P/E/G ratio of 2.05 and a beta of 1.05. The firm has a 50-day moving average of $175.47 and a 200-day moving average of $154.72. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.15 and a quick ratio of 1.10. Regal Rexnord Corporation has a one year low of $90.56 and a one year high of $229.30.

Regal Rexnord (NYSE:RRX) last released its earnings results on Thursday, February 5th. The company reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. Regal Rexnord had a return on equity of 9.60% and a net margin of 4.71%.The business had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the previous year, the business earned $2.34 earnings per share. Regal Rexnord’s quarterly revenue was up 4.3% on a year-over-year basis. On average, equities analysts expect that Regal Rexnord Corporation will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 31st will be paid a dividend of $0.35 per share. The ex-dividend date is Tuesday, March 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.6%. Regal Rexnord’s dividend payout ratio is currently 33.33%.

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.