Squarepoint Ops LLC Makes New $1.28 Million Investment in Regal Rexnord Corporation $RRX

Squarepoint Ops LLC purchased a new position in Regal Rexnord Corporation (NYSE:RRX) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 8,806 shares of the company’s stock, valued at approximately $1,277,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Granite Investment Partners LLC acquired a new position in shares of Regal Rexnord in the 2nd quarter valued at about $1,309,000. Prudential Financial Inc. raised its position in Regal Rexnord by 233.6% during the second quarter. Prudential Financial Inc. now owns 45,281 shares of the company’s stock valued at $6,564,000 after acquiring an additional 31,709 shares in the last quarter. Stanley Capital Management LLC purchased a new position in Regal Rexnord during the second quarter valued at approximately $19,367,000. Legal & General Group Plc lifted its holdings in Regal Rexnord by 2.8% in the second quarter. Legal & General Group Plc now owns 112,789 shares of the company’s stock valued at $16,350,000 after acquiring an additional 3,096 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in Regal Rexnord by 76.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 233,383 shares of the company’s stock worth $33,831,000 after purchasing an additional 101,099 shares in the last quarter. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Louis V. Pinkham sold 35,935 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 103,262 shares in the company, valued at approximately $15,096,904.40. The trade was a 25.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.82% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

RRX has been the subject of several recent research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Regal Rexnord in a report on Wednesday, October 8th. Citigroup raised their price target on shares of Regal Rexnord from $175.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Robert W. Baird set a $212.00 price objective on shares of Regal Rexnord in a research report on Friday, October 31st. The Goldman Sachs Group lowered their target price on shares of Regal Rexnord from $192.00 to $170.00 and set a “buy” rating on the stock in a research note on Tuesday, September 16th. Finally, Zacks Research lowered Regal Rexnord from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 4th. Seven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $179.63.

Regal Rexnord Stock Performance

RRX opened at $140.00 on Friday. The firm’s fifty day simple moving average is $141.84 and its two-hundred day simple moving average is $144.62. Regal Rexnord Corporation has a 52-week low of $90.56 and a 52-week high of $167.77. The company has a market cap of $9.29 billion, a price-to-earnings ratio of 36.18, a PEG ratio of 1.45 and a beta of 1.11. The company has a quick ratio of 0.97, a current ratio of 2.05 and a debt-to-equity ratio of 0.71.

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

Regal Rexnord Dividend Announcement

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

Regal Rexnord Company Profile

Regal Rexnord Corporation (NYSE: RRX) is a global industrial manufacturer specializing in electric motors, power generation equipment and automated motion control systems. The company designs, engineers and produces a broad portfolio of products that includes energy-efficient electric motors, variable frequency drives, gearboxes, couplings, bearings and power transmission components. These offerings support critical applications in industries such as heating, ventilation and air conditioning (HVAC), refrigeration, data centers, water treatment, food and beverage processing, mining, oil and gas, and material handling.

The company’s operations are organized into multiple business segments that address distinct customer needs.