DekaBank Deutsche Girozentrale Buys 2,327 Shares of Regal Rexnord Co. (NYSE:RRX)

DekaBank Deutsche Girozentrale raised its stake in Regal Rexnord Co. (NYSE:RRX) by 11.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,498 shares of the company’s stock after buying an additional 2,327 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Regal Rexnord were worth $3,330,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Cary Street Partners Investment Advisory LLC increased 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 worth $25,000 after buying an additional 150 shares during the last quarter. Belpointe Asset Management LLC increased its holdings in shares of Regal Rexnord by 139.1% in the 1st quarter. Belpointe Asset Management LLC now owns 208 shares of the company’s stock worth $29,000 after buying an additional 121 shares during the last quarter. Janiczek Wealth Management LLC increased its holdings in shares of Regal Rexnord by 45.4% in the 3rd quarter. Janiczek Wealth Management LLC now owns 282 shares of the company’s stock worth $40,000 after buying an additional 88 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Regal Rexnord during the 1st quarter valued at $42,000. Finally, ICA Group Wealth Management LLC bought a new position in shares of Regal Rexnord during the 4th quarter valued at $57,000. Institutional investors own 99.72% of the company’s stock.

Insider Transactions at Regal Rexnord

In other news, EVP Thomas E. Valentyn sold 647 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $169.70, for a total value of $109,795.90. Following the completion of the sale, the executive vice president now directly owns 28,412 shares of the company’s stock, valued at approximately $4,821,516.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Thomas E. Valentyn sold 647 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $169.70, for a total value of $109,795.90. Following the completion of the sale, the executive vice president now directly owns 28,412 shares of the company’s stock, valued at approximately $4,821,516.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Jerrald R. Morton sold 2,992 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $154.34, for a total transaction of $461,785.28. Following the completion of the sale, the executive vice president now directly owns 15,884 shares of the company’s stock, valued at $2,451,536.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,570 shares of company stock valued at $892,301. Company insiders own 0.82% of the company’s stock.

Analyst Ratings Changes

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

Regal Rexnord Trading Down 2.1 %

Shares of RRX opened at $163.15 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.55 and a quick ratio of 1.59. The firm has a fifty day simple moving average of $167.32 and a two-hundred day simple moving average of $143.23. Regal Rexnord Co. has a twelve month low of $97.18 and a twelve month high of $183.85.

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

Regal Rexnord Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Thursday, March 28th were given a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.40 annualized dividend and a dividend yield of 0.86%. Regal Rexnord’s dividend payout ratio is -160.92%.

Regal Rexnord Profile

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.