Brant Point Investment Management LLC Has $3.02 Million Stake in Regal Rexnord Corporation $RRX

Brant Point Investment Management LLC decreased its position in Regal Rexnord Corporation (NYSE:RRX) by 20.4% during the 4th quarter, Holdings Channel.com reports. The firm 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 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. grew its position in shares of Regal Rexnord by 42.6% in the fourth quarter. Victory Capital Management Inc. now owns 5,658,365 shares of the company’s stock valued at $793,983,000 after purchasing an additional 1,690,264 shares during the last quarter. Viking Global Investors LP grew its position in shares of Regal Rexnord by 25.7% in the second quarter. Viking Global Investors LP now owns 3,430,128 shares of the company’s stock valued at $497,231,000 after purchasing an additional 701,145 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Regal Rexnord by 5.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,530,092 shares of the company’s stock valued at $355,031,000 after purchasing an additional 131,171 shares during the last quarter. Invesco Ltd. grew its position in shares of Regal Rexnord by 17.7% in the third quarter. Invesco Ltd. now owns 1,500,000 shares of the company’s stock valued at $215,160,000 after purchasing an additional 225,734 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of Regal Rexnord by 7.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,251,095 shares of the company’s stock valued at $175,554,000 after purchasing an additional 85,242 shares during the last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.

Insider Activity

In other news, Director Robin A. Walker-Lee sold 1,297 shares of Regal Rexnord 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 transaction, the director owned 5,503 shares in the company, valued at approximately $1,176,816.55. This trade represents a 19.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Louis V. Pinkham sold 22,509 shares of Regal Rexnord 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 completion of the transaction, the chief executive officer owned 56,749 shares in the company, valued at approximately $12,012,628.32. The trade was a 28.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 30,305 shares of company stock worth $6,341,869. Insiders own 0.63% of the company’s stock.

Regal Rexnord Trading Up 0.6%

Shares of NYSE:RRX opened at $212.51 on Friday. The company has a market capitalization of $14.15 billion, a P/E ratio of 49.42, a P/E/G ratio of 2.00 and a beta of 1.11. Regal Rexnord Corporation has a 1 year low of $127.96 and a 1 year high of $236.35. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.17 and a quick ratio of 1.08. The business’s 50 day simple moving average is $205.28 and its 200 day simple moving average is $184.40.

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

Regal Rexnord Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th will be paid a $0.35 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $1.40 annualized dividend and a dividend yield of 0.7%. Regal Rexnord’s dividend payout ratio (DPR) is presently 32.56%.

Wall Street Analyst Weigh In

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

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.