Integrated Advisors Network LLC Makes New $319,000 Investment in Regal Rexnord Co. (NYSE:RRX)

Integrated Advisors Network LLC bought a new position in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 2,057 shares of the company's stock, valued at approximately $319,000.

Several other large investors have also made changes to their positions in RRX. Skandinaviska Enskilda Banken AB publ raised its stake in Regal Rexnord by 472.4% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company's stock valued at $25,000 after purchasing an additional 137 shares during the last quarter. Bernard Wealth Management Corp. acquired a new position in Regal Rexnord in the 4th quarter valued at $30,000. Aster Capital Management DIFC Ltd acquired a new position in Regal Rexnord in the 4th quarter valued at $33,000. Tobam acquired a new position in Regal Rexnord in the 4th quarter valued at $45,000. Finally, Jones Financial Companies Lllp raised its stake in Regal Rexnord by 90.5% in the 4th quarter. Jones Financial Companies Lllp now owns 322 shares of the company's stock valued at $50,000 after purchasing an additional 153 shares during the last quarter. 99.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on RRX. Barclays increased their price objective on Regal Rexnord from $155.00 to $160.00 and gave the company an "overweight" rating in a research note on Monday, May 12th. KeyCorp dropped their target price on Regal Rexnord from $180.00 to $125.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Oppenheimer dropped their target price on Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating for the company in a report on Friday, February 7th. Citigroup upped their target price on Regal Rexnord from $110.00 to $145.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Finally, Robert W. Baird increased their price target on Regal Rexnord from $167.00 to $172.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Regal Rexnord currently has an average rating of "Buy" and a consensus target price of $171.25.

Insider Transactions at Regal Rexnord

In other news, CEO Louis V. Pinkham sold 10,593 shares of the firm's stock in a transaction dated 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 now owns 175,954 shares of the company's stock, valued at approximately $24,691,624.82. This trade represents a 5.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.82% of the company's stock.

Regal Rexnord Stock Down 1.2%

Shares of RRX traded down $1.57 during midday trading on Monday, hitting $131.87. The company had a trading volume of 414,501 shares, compared to its average volume of 575,569. The company's 50-day simple moving average is $117.49 and its 200-day simple moving average is $138.45. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.25 and a current ratio of 2.26. The firm has a market capitalization of $8.75 billion, a P/E ratio of 44.70, a P/E/G ratio of 1.37 and a beta of 1.11. Regal Rexnord Co. has a 1 year low of $90.56 and a 1 year high of $185.28.

Regal Rexnord (NYSE:RRX - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.33. Regal Rexnord had a return on equity of 9.57% and a net margin of 3.25%. The business had revenue of $1.42 billion during the quarter, compared to analysts' expectations of $1.38 billion. During the same quarter last year, the business posted $2.00 EPS. The business's quarterly revenue was down 8.4% compared to the same quarter last year. As a group, sell-side analysts expect that Regal Rexnord Co. will post 9.95 EPS for the current 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 given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend is Monday, June 30th. Regal Rexnord's dividend payout ratio (DPR) is presently 39.89%.

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.