GAMMA Investing LLC Increases Stock Position in Regal Rexnord Co. (NYSE:RRX)

GAMMA Investing LLC boosted its holdings in shares of Regal Rexnord Co. (NYSE:RRX) by 28.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,079 shares of the company’s stock after buying an additional 238 shares during the quarter. GAMMA Investing LLC’s holdings in Regal Rexnord were worth $167,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of RRX. Diamond Hill Capital Management Inc. increased its holdings in shares of Regal Rexnord by 7.1% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 3,181,886 shares of the company’s stock valued at $430,255,000 after acquiring an additional 209,776 shares during the period. State Street Corp grew its stake in Regal Rexnord by 1.3% in the third quarter. State Street Corp now owns 1,972,866 shares of the company’s stock valued at $327,944,000 after purchasing an additional 24,860 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Regal Rexnord by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,422,350 shares of the company’s stock worth $192,338,000 after purchasing an additional 8,159 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Regal Rexnord by 6.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,289,917 shares of the company’s stock valued at $213,971,000 after buying an additional 83,823 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of Regal Rexnord by 7.2% during the third quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company’s stock valued at $204,254,000 after buying an additional 77,215 shares during the last quarter. Institutional investors own 99.72% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Louis V. Pinkham sold 8,774 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $180.03, for a total value of $1,579,583.22. Following the sale, the chief executive officer now owns 149,618 shares in the company, valued at $26,935,728.54. This represents a 5.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.82% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on RRX. Loop Capital reiterated a “buy” rating and set a $200.00 price objective on shares of Regal Rexnord in a research note on Thursday, September 19th. Robert W. Baird decreased their price objective on Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. The Goldman Sachs Group boosted their target price on Regal Rexnord from $191.00 to $213.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Jefferies Financial Group assumed coverage on Regal Rexnord in a research note on Thursday, December 12th. They issued a “buy” rating and a $215.00 price target for the company. Finally, Barclays dropped their price target on Regal Rexnord from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Wednesday. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $203.25.

Regal Rexnord Trading Down 0.7 %

Shares of NYSE:RRX opened at $155.07 on Thursday. The company has a quick ratio of 1.35, a current ratio of 2.45 and a debt-to-equity ratio of 0.87. Regal Rexnord Co. has a 52-week low of $130.94 and a 52-week high of $185.28. The stock has a market cap of $10.27 billion, a price-to-earnings ratio of 48.92, a PEG ratio of 1.83 and a beta of 1.04. The business has a 50-day moving average price of $167.21 and a 200-day moving average price of $160.59.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings data on Monday, November 4th. The company reported $2.49 EPS for the quarter, beating 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 business’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same period in the previous year, the business posted $2.10 EPS. Equities analysts predict that Regal Rexnord Co. will post 9.24 EPS for the current year.

Regal Rexnord Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend is Tuesday, December 31st. Regal Rexnord’s payout ratio is 44.16%.

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.