Regal Rexnord Corporation $RRX Shares Purchased by Quantinno Capital Management LP

Quantinno Capital Management LP boosted its holdings in Regal Rexnord Corporation (NYSE:RRX) by 10.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,242 shares of the company’s stock after purchasing an additional 6,419 shares during the quarter. Quantinno Capital Management LP’s holdings in Regal Rexnord were worth $12,217,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of RRX. Covestor Ltd raised its holdings in Regal Rexnord by 81.6% during the fourth quarter. Covestor Ltd now owns 178 shares of the company’s stock worth $25,000 after purchasing an additional 80 shares in the last quarter. Geneos Wealth Management Inc. increased its position in Regal Rexnord by 135.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock worth $25,000 after purchasing an additional 127 shares during the last quarter. Garner Asset Management Corp bought a new position in shares of Regal Rexnord during the 4th quarter valued at $27,000. IFP Advisors Inc raised its stake in shares of Regal Rexnord by 34.0% in the 4th quarter. IFP Advisors Inc now owns 193 shares of the company’s stock valued at $27,000 after acquiring an additional 49 shares in the last quarter. Finally, Advisory Services Network LLC acquired a new stake in shares of Regal Rexnord in the third quarter worth $35,000. Institutional investors and hedge funds own 99.72% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Oppenheimer reaffirmed an “outperform” rating on shares of Regal Rexnord in a research report on Friday, July 10th. Deutsche Bank Aktiengesellschaft initiated coverage on Regal Rexnord in a research report on Monday, July 20th. They issued a “buy” rating and a $286.00 price target on the stock. Wolfe Research set a $250.00 target price on Regal Rexnord in a report on Thursday, July 9th. DA Davidson started coverage on shares of Regal Rexnord in a report on Tuesday, June 16th. They set a “buy” rating and a $260.00 price objective on the stock. Finally, Citigroup lifted their target price on Regal Rexnord from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Regal Rexnord has an average rating of “Moderate Buy” and a consensus target price of $247.00.

Regal Rexnord Trading Up 2.8%

Shares of Regal Rexnord stock opened at $211.05 on Tuesday. The company has a quick ratio of 1.08, a current ratio of 2.17 and a debt-to-equity ratio of 0.69. The business’s 50 day moving average is $213.38 and its 200-day moving average is $202.17. The stock has a market cap of $14.05 billion, a P/E ratio of 49.08, a P/E/G ratio of 1.36 and a beta of 1.09. Regal Rexnord Corporation has a 12-month low of $127.96 and a 12-month high of $247.80.

Regal Rexnord (NYSE:RRX) last posted its earnings results on Thursday, May 7th. The company reported $2.17 earnings per share (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 company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter last year, the company posted $2.15 EPS. Regal Rexnord’s quarterly revenue was up 4.3% compared to the same quarter last year. Equities research analysts predict that Regal Rexnord Corporation will post 10.65 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 14th. Investors of record on Wednesday, September 30th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.40 annualized dividend and a dividend yield of 0.7%. Regal Rexnord’s payout ratio is 32.56%.

Insider Transactions at Regal Rexnord

In related news, CFO Robert Rehard sold 6,499 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $200.00, for a total transaction of $1,299,800.00. Following the completion of the transaction, the chief financial officer directly owned 27,965 shares of the company’s stock, valued at $5,593,000. This trade represents a 18.86% decrease in their position. The sale 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 firm’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $213.85, for a total transaction of $277,363.45. Following the transaction, the director owned 5,503 shares of the company’s stock, valued at approximately $1,176,816.55. The trade was a 19.07% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 30,305 shares of company stock worth $6,341,869. Corporate insiders own 0.63% of the company’s stock.

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.