Regal Rexnord Co. (NYSE:RRX) Stock Holdings Boosted by Federated Hermes Inc.

Federated Hermes Inc. raised its position in shares of Regal Rexnord Co. (NYSE:RRX) by 933.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 90,556 shares of the company’s stock after purchasing an additional 81,793 shares during the quarter. Federated Hermes Inc. owned about 0.14% of Regal Rexnord worth $13,404,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC boosted its stake in shares of Regal Rexnord by 2.1% during the 3rd quarter. FMR LLC now owns 8,978,384 shares of the company’s stock worth $1,282,831,000 after acquiring an additional 181,889 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Regal Rexnord by 2.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 657,959 shares of the company’s stock worth $94,009,000 after acquiring an additional 17,810 shares in the last quarter. Third Point LLC bought a new stake in shares of Regal Rexnord during the 3rd quarter worth $92,872,000. Invesco Ltd. boosted its stake in shares of Regal Rexnord by 37.4% during the 3rd quarter. Invesco Ltd. now owns 521,492 shares of the company’s stock worth $74,511,000 after acquiring an additional 141,939 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Regal Rexnord by 80.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 509,265 shares of the company’s stock worth $75,382,000 after acquiring an additional 226,435 shares in the last quarter. 99.72% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Thomas E. Valentyn sold 647 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $169.70, for a total transaction of $109,795.90. Following the completion of the sale, the executive vice president now directly owns 28,412 shares in the company, valued at $4,821,516.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Regal Rexnord news, 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 transaction, the executive vice president now directly owns 15,884 shares in the company, valued at $2,451,536.56. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 transaction, the executive vice president now owns 28,412 shares in the company, valued at $4,821,516.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,570 shares of company stock worth $892,301. Corporate insiders own 0.82% of the company’s stock.

Regal Rexnord Trading Up 2.5 %

RRX opened at $163.73 on Tuesday. The stock has a fifty day moving average of $169.24 and a 200-day moving average of $144.12. Regal Rexnord Co. has a 12-month low of $97.18 and a 12-month high of $183.85. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.59 and a current ratio of 2.55.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings data 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 business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same period last year, the company earned $2.64 earnings per share. Regal Rexnord’s quarterly revenue was up 29.2% compared to the same quarter last year. As a group, research analysts predict that Regal Rexnord Co. will post 10.05 EPS for the current year.

Regal Rexnord Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Thursday, March 28th were issued a dividend of $0.35 per share. 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%.

Analyst Ratings Changes

RRX has been the subject of several research reports. Barclays raised their price objective on Regal Rexnord from $200.00 to $203.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Oppenheimer raised their price objective on Regal Rexnord from $185.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 13th. Finally, KeyCorp increased their target price on Regal Rexnord from $180.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, March 25th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $197.00.

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.