International Assets Investment Management LLC Raises Holdings in Regal Rexnord Co. (NYSE:RRX)

International Assets Investment Management LLC lifted its stake in Regal Rexnord Co. (NYSE:RRX) by 11,000.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 888 shares of the company’s stock after purchasing an additional 880 shares during the quarter. International Assets Investment Management LLC’s holdings in Regal Rexnord were worth $131,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. FMR LLC increased its position in shares of Regal Rexnord by 2.1% in the 3rd quarter. FMR LLC now owns 8,978,384 shares of the company’s stock valued at $1,282,831,000 after acquiring an additional 181,889 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Regal Rexnord by 2.8% during the third quarter. Bank of New York Mellon Corp now owns 657,959 shares of the company’s stock worth $94,009,000 after purchasing an additional 17,810 shares during the period. Third Point LLC purchased a new stake in Regal Rexnord in the third quarter valued at approximately $92,872,000. Invesco Ltd. raised its position in 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 buying an additional 141,939 shares during the last quarter. Finally, William Blair Investment Management LLC acquired a new stake in Regal Rexnord during the 3rd quarter valued at approximately $71,899,000. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Regal Rexnord Stock Up 1.3 %

RRX opened at $166.26 on Tuesday. The company has a fifty day moving average of $170.03 and a two-hundred day moving average of $145.14. 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 Co. has a fifty-two week low of $97.18 and a fifty-two week high of $183.85. The stock has a market capitalization of $11.06 billion, a price-to-earnings ratio of -191.10, a PEG ratio of 1.63 and a beta of 1.14.

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. Regal Rexnord had a positive return on equity of 9.58% and a negative net margin of 0.92%. The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the previous year, the business earned $2.64 EPS. Regal Rexnord’s revenue for the quarter was up 29.2% compared to the same quarter last year. On average, research analysts expect that Regal Rexnord Co. will post 10.05 earnings per share for the current year.

Regal Rexnord Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend is Friday, June 28th. Regal Rexnord’s payout ratio is presently -160.92%.

Insiders Place Their Bets

In other news, EVP Thomas E. Valentyn sold 1,931 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $166.09, for a total transaction of $320,719.79. Following the completion of the sale, the executive vice president now owns 27,180 shares of the company’s stock, valued at $4,514,326.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Regal Rexnord news, EVP Thomas E. Valentyn sold 1,931 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $166.09, for a total value of $320,719.79. Following the transaction, the executive vice president now owns 27,180 shares in the company, valued at approximately $4,514,326.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Thomas E. Valentyn sold 647 shares of the company’s 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 sale, the executive vice president now directly owns 28,412 shares of the company’s stock, valued at approximately $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. Company insiders own 0.82% of the company’s stock.

Analyst Upgrades and Downgrades

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