Brant Point Investment Management LLC Grows Position in Regal Rexnord Corporation $RRX

Brant Point Investment Management LLC lifted its holdings in Regal Rexnord Corporation (NYSE:RRX) by 47.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,876 shares of the company’s stock after buying an additional 9,025 shares during the period. Brant Point Investment Management LLC’s holdings in Regal Rexnord were worth $4,041,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cetera Investment Advisers raised its holdings in Regal Rexnord by 3.6% in the 1st quarter. Cetera Investment Advisers now owns 2,920 shares of the company’s stock valued at $332,000 after acquiring an additional 102 shares during the last quarter. US Bancorp DE grew its position in shares of Regal Rexnord by 12.5% in the first quarter. US Bancorp DE now owns 1,828 shares of the company’s stock valued at $208,000 after purchasing an additional 203 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Regal Rexnord by 2.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 442,186 shares of the company’s stock valued at $50,343,000 after purchasing an additional 10,034 shares during the last quarter. Headlands Technologies LLC purchased a new position in Regal Rexnord during the first quarter worth approximately $81,000. Finally, Invesco Ltd. boosted its stake in Regal Rexnord by 76.3% during the first quarter. Invesco Ltd. now owns 932,829 shares of the company’s stock worth $106,203,000 after buying an additional 403,845 shares during the last quarter. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on RRX. Robert W. Baird set a $212.00 price target on Regal Rexnord in a report on Friday, October 31st. Zacks Research downgraded shares of Regal Rexnord from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 4th. Barclays reiterated an “overweight” rating and issued a $165.00 target price on shares of Regal Rexnord in a report on Monday, November 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Regal Rexnord in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. decreased their price objective on Regal Rexnord from $200.00 to $190.00 and set an “overweight” rating on the stock in a report on Friday, October 31st. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Regal Rexnord currently has an average rating of “Moderate Buy” and a consensus price target of $184.63.

Insider Buying and Selling

In related news, CEO Louis V. Pinkham sold 35,935 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $146.20, for a total transaction of $5,253,697.00. Following the completion of the transaction, the chief executive officer directly owned 103,262 shares in the company, valued at $15,096,904.40. This trade represents a 25.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.82% of the stock is owned by company insiders.

Regal Rexnord Price Performance

Regal Rexnord stock opened at $145.55 on Monday. The company’s 50 day simple moving average is $141.43 and its 200-day simple moving average is $143.90. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.97 and a current ratio of 2.05. Regal Rexnord Corporation has a 1 year low of $90.56 and a 1 year high of $173.46. The company has a market capitalization of $9.66 billion, a price-to-earnings ratio of 37.61, a price-to-earnings-growth ratio of 1.51 and a beta of 1.11.

Regal Rexnord (NYSE:RRX) last posted its earnings results on Friday, September 8th. The company reported $2.76 earnings per share for the quarter. Regal Rexnord had a net margin of 4.38% and a return on equity of 9.64%. The firm had revenue of $1.85 billion during the quarter. As a group, equities research analysts expect that Regal Rexnord Corporation will post 9.95 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 14th. Investors of record on Wednesday, December 31st will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $1.40 annualized dividend and a yield of 1.0%. Regal Rexnord’s dividend payout ratio is presently 36.18%.

Regal Rexnord Company 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.