Regents Gate Capital LLP Acquires Shares of 19,422 Regal Rexnord Corporation (NYSE:RRX)

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

A number of other hedge funds have also made changes to their positions in RRX. Jefferies Financial Group Inc. purchased a new stake in Regal Rexnord in the 4th quarter valued at about $1,427,000. JPMorgan Chase & Co. grew its holdings in shares of Regal Rexnord by 56.8% during the 4th quarter. JPMorgan Chase & Co. now owns 683,980 shares of the company's stock worth $106,106,000 after purchasing an additional 247,673 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Regal Rexnord by 16.7% during the 4th 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 in the last quarter. Atria Investments Inc lifted its position in Regal Rexnord by 48.9% during the 4th quarter. Atria Investments Inc now owns 2,310 shares of the company's stock worth $358,000 after acquiring an additional 759 shares in the last quarter. Finally, Norges Bank acquired a new position in Regal Rexnord during the 4th quarter worth approximately $235,188,000. Hedge funds and other institutional investors own 99.72% of the company's stock.

Regal Rexnord Price Performance

RRX stock traded up $2.49 during trading on Thursday, hitting $153.14. The company had a trading volume of 135,290 shares, compared to its average volume of 597,286. The company has a fifty day moving average price of $138.93 and a two-hundred day moving average price of $134.07. The company has a current ratio of 2.26, a quick ratio of 1.21 and a debt-to-equity ratio of 0.82. The company has a market cap of $10.16 billion, a P/E ratio of 43.58, a P/E/G ratio of 1.52 and a beta of 1.17. Regal Rexnord Corporation has a fifty-two week low of $90.56 and a fifty-two week high of $185.28.

Regal Rexnord (NYSE:RRX - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported $2.15 EPS for the quarter, beating the consensus estimate of $1.82 by $0.33. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.00 EPS. Equities research analysts expect that Regal Rexnord Corporation will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 14th. Investors of record on Monday, June 30th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend is Monday, June 30th. Regal Rexnord's dividend payout ratio is 39.89%.

Insider Buying and Selling

In related news, CEO Louis V. Pinkham sold 10,593 shares of the business's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $140.33, for a total value of $1,486,515.69. Following the sale, the chief executive officer owned 175,954 shares of the company's stock, valued at $24,691,624.82. The trade was a 5.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.82% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on RRX. Robert W. Baird upped their target price on Regal Rexnord from $167.00 to $172.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. The Goldman Sachs Group upped their price target on Regal Rexnord from $173.00 to $195.00 and gave the company a "buy" rating in a research report on Tuesday. KeyCorp set a $180.00 target price on Regal Rexnord and gave the stock an "overweight" rating in a research report on Thursday, June 26th. Barclays increased their price target on Regal Rexnord from $160.00 to $165.00 and gave the stock an "overweight" rating in a research note on Wednesday. Finally, Wall Street Zen raised Regal Rexnord from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $185.25.

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.