Regal Rexnord Co. (NYSE:RRX) Shares Purchased by Xponance Inc.

Xponance Inc. increased its stake in shares of Regal Rexnord Co. (NYSE:RRX) by 1.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 8,003 shares of the company’s stock after purchasing an additional 91 shares during the period. Xponance Inc.’s holdings in Regal Rexnord were worth $1,185,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Cary Street Partners Investment Advisory LLC lifted its holdings in shares of Regal Rexnord by 652.2% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 173 shares of the company’s stock worth $25,000 after purchasing an additional 150 shares during the period. Global Retirement Partners LLC lifted its holdings in shares of Regal Rexnord by 18.5% during the third quarter. Global Retirement Partners LLC now owns 493 shares of the company’s stock worth $68,000 after purchasing an additional 77 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of Regal Rexnord by 11,000.0% during the fourth quarter. International Assets Investment Management LLC now owns 888 shares of the company’s stock worth $131,000 after purchasing an additional 880 shares during the period. Arlington Trust Co LLC acquired a new stake in shares of Regal Rexnord during the fourth quarter worth $140,000. Finally, NBC Securities Inc. acquired a new stake in shares of Regal Rexnord during the third quarter worth $177,000. 99.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on RRX shares. Barclays increased their price objective on Regal Rexnord from $200.00 to $203.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. KeyCorp increased their price objective on Regal Rexnord from $180.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, March 25th. Finally, Oppenheimer increased their price objective on Regal Rexnord from $185.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 13th. One 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.com, Regal Rexnord currently has a consensus rating of “Moderate Buy” and an average target price of $197.00.

Insider Activity

In other news, EVP Jerrald R. Morton sold 2,992 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $154.34, for a total value of $461,785.28. Following the completion of the transaction, the executive vice president now owns 15,884 shares in the company, valued at $2,451,536.56. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, EVP Jerrald R. Morton sold 2,992 shares of Regal Rexnord 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 owns 15,884 shares in the company, valued at approximately $2,451,536.56. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Thomas E. Valentyn sold 1,931 shares of Regal Rexnord stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $166.09, for a total value of $320,719.79. Following the sale, the executive vice president now owns 27,180 shares of the company’s stock, valued at approximately $4,514,326.20. The disclosure for this sale can be found here. Insiders sold a total of 5,570 shares of company stock worth $892,301 over the last 90 days. 0.82% of the stock is currently owned by corporate insiders.

Regal Rexnord Stock Performance

Shares of RRX stock opened at $164.39 on Thursday. Regal Rexnord Co. has a fifty-two week low of $97.18 and a fifty-two week high of $183.85. The business has a fifty day simple moving average of $169.79 and a 200-day simple moving average of $144.48. 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 results on Wednesday, February 7th. The company reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $1.63 billion. During the same quarter last year, the business posted $2.64 earnings per share. The business’s revenue for the quarter was up 29.2% on a year-over-year basis. On average, analysts predict that Regal Rexnord Co. will post 10.05 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date is Friday, June 28th. Regal Rexnord’s dividend payout ratio is currently -160.92%.

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.