Regents Gate Capital LLP Makes New Investment in Regal Rexnord Corporation (NYSE:RRX)

Regents Gate Capital LLP acquired a new stake in shares of Regal Rexnord Corporation (NYSE:RRX - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,422 shares of the company's stock, valued at approximately $2,211,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RRX. Jefferies Financial Group Inc. bought a new position in Regal Rexnord in the fourth quarter worth approximately $1,427,000. JPMorgan Chase & Co. raised its position in Regal Rexnord by 56.8% in the fourth quarter. JPMorgan Chase & Co. now owns 683,980 shares of the company's stock worth $106,106,000 after acquiring an additional 247,673 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Regal Rexnord by 16.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,844 shares of the company's stock worth $2,613,000 after acquiring an additional 2,414 shares during the period. Atria Investments Inc raised its position in Regal Rexnord by 48.9% in the fourth quarter. Atria Investments Inc now owns 2,310 shares of the company's stock worth $358,000 after acquiring an additional 759 shares during the period. Finally, Norges Bank bought a new position in Regal Rexnord in the fourth quarter worth approximately $235,188,000. Institutional investors own 99.72% of the company's stock.

Regal Rexnord Stock Up 0.1%

NYSE RRX traded up $0.18 on Friday, reaching $151.86. The company had a trading volume of 526,697 shares, compared to its average volume of 599,116. The firm has a market capitalization of $10.07 billion, a PE ratio of 43.26, a P/E/G ratio of 1.53 and a beta of 1.17. Regal Rexnord Corporation has a 1 year low of $90.56 and a 1 year high of $185.28. The firm has a 50-day moving average of $139.83 and a 200-day moving average of $134.04. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.26 and a quick ratio of 1.21.

Regal Rexnord (NYSE:RRX - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $2.15 earnings per share for the quarter, topping analysts' consensus estimates of $1.82 by $0.33. The firm had revenue of $1.42 billion during the quarter, compared to analysts' expectations of $1.38 billion. Regal Rexnord had a return on equity of 9.67% and a net margin of 3.96%. Regal Rexnord's quarterly revenue was down 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.00 EPS. On average, equities research analysts anticipate that Regal Rexnord Corporation will post 9.95 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 14th. Stockholders of record on Monday, June 30th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.92%. The ex-dividend date is Monday, June 30th. Regal Rexnord's dividend payout ratio (DPR) is currently 39.89%.

Analysts Set New Price Targets

RRX has been the subject of a number of analyst reports. KeyCorp set a $180.00 price objective on shares of Regal Rexnord and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Citigroup reaffirmed a "buy" rating and set a $165.00 target price (up from $145.00) on shares of Regal Rexnord in a research note on Tuesday, June 24th. Wall Street Zen upgraded shares of Regal Rexnord from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. Robert W. Baird raised their target price on shares of Regal Rexnord from $167.00 to $172.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Finally, The Goldman Sachs Group raised their target price on shares of Regal Rexnord from $173.00 to $195.00 and gave the stock a "buy" rating in a report on Tuesday. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $185.25.

Insider Activity

In related news, CEO Louis V. Pinkham sold 10,593 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $140.33, for a total transaction of $1,486,515.69. Following the sale, the chief executive officer directly owned 175,954 shares of the company's stock, valued at approximately $24,691,624.82. This represents a 5.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.82% of the company's stock.

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.