GSA Capital Partners LLP Takes $229,000 Position in Regal Rexnord Co. (NYSE:RRX)

GSA Capital Partners LLP acquired a new position in shares of Regal Rexnord Co. (NYSE:RRX) in the 3rd quarter, HoldingsChannel reports. The firm acquired 1,383 shares of the company’s stock, valued at approximately $229,000.

Several other hedge funds have also made changes to their positions in the company. Harbor Capital Advisors Inc. acquired a new position in Regal Rexnord in the second quarter valued at approximately $1,173,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of Regal Rexnord by 31.4% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 19,686 shares of the company’s stock valued at $2,662,000 after purchasing an additional 4,701 shares during the last quarter. Texas Permanent School Fund Corp raised its holdings in Regal Rexnord by 7.0% in the 2nd quarter. Texas Permanent School Fund Corp now owns 62,101 shares of the company’s stock valued at $8,397,000 after buying an additional 4,076 shares during the period. Intech Investment Management LLC lifted its position in Regal Rexnord by 879.3% in the second quarter. Intech Investment Management LLC now owns 13,896 shares of the company’s stock valued at $1,879,000 after buying an additional 12,477 shares during the last quarter. Finally, TimesSquare Capital Management LLC boosted its stake in Regal Rexnord by 0.8% during the third quarter. TimesSquare Capital Management LLC now owns 651,586 shares of the company’s stock worth $108,085,000 after buying an additional 5,331 shares during the period. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Insider Transactions at Regal Rexnord

In related news, CEO Louis V. Pinkham sold 8,774 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $180.03, for a total value of $1,579,583.22. Following the completion of the sale, the chief executive officer now directly owns 149,618 shares of the company’s stock, valued at $26,935,728.54. The trade was a 5.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.82% of the company’s stock.

Regal Rexnord Stock Performance

Shares of Regal Rexnord stock opened at $177.37 on Monday. The business has a 50-day simple moving average of $170.10 and a 200-day simple moving average of $157.21. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.35 and a current ratio of 2.45. Regal Rexnord Co. has a one year low of $113.79 and a one year high of $185.28. The company has a market cap of $11.75 billion, a PE ratio of 55.95, a P/E/G ratio of 1.88 and a beta of 1.04.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings data on Monday, November 4th. The company reported $2.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.01. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Regal Rexnord had a net margin of 3.41% and a return on equity of 9.48%. The company’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.10 EPS. On average, equities research analysts forecast that Regal Rexnord Co. will post 9.25 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st will be issued a $0.35 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.79%. Regal Rexnord’s payout ratio is currently 44.16%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on RRX. Loop Capital reissued a “buy” rating and issued a $200.00 price target on shares of Regal Rexnord in a research note on Thursday, September 19th. The Goldman Sachs Group boosted their target price on Regal Rexnord from $176.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. StockNews.com raised Regal Rexnord from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th. Citigroup initiated coverage on Regal Rexnord in a report on Monday, October 14th. They set a “buy” rating and a $200.00 target price for the company. Finally, Robert W. Baird dropped their target price on Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $193.00.

Regal Rexnord 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.