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

GAMMA Investing LLC grew its holdings in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) by 11,369.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 123,755 shares of the company's stock after acquiring an additional 122,676 shares during the period. GAMMA Investing LLC owned 0.19% of Regal Rexnord worth $14,090,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in RRX. Victory Capital Management Inc. boosted its position in shares of Regal Rexnord by 20.1% during the 4th quarter. Victory Capital Management Inc. now owns 2,176,963 shares of the company's stock valued at $337,712,000 after purchasing an additional 363,728 shares in the last quarter. Norges Bank acquired a new position in Regal Rexnord in the fourth quarter valued at approximately $235,188,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Regal Rexnord by 3.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,332,621 shares of the company's stock worth $206,729,000 after buying an additional 42,704 shares in the last quarter. Nuveen Asset Management LLC boosted its holdings in shares of Regal Rexnord by 79.8% during the 4th quarter. Nuveen Asset Management LLC now owns 899,688 shares of the company's stock worth $139,569,000 after buying an additional 399,267 shares in the last quarter. Finally, TimesSquare Capital Management LLC grew its position in shares of Regal Rexnord by 35.7% during the 4th quarter. TimesSquare Capital Management LLC now owns 884,095 shares of the company's stock worth $137,150,000 after buying an additional 232,509 shares during the period. 99.72% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on RRX. KeyCorp dropped their target price on shares of Regal Rexnord from $180.00 to $125.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Barclays upped their price objective on shares of Regal Rexnord from $155.00 to $160.00 and gave the company an "overweight" rating in a report on Monday, May 12th. Robert W. Baird raised their target price on Regal Rexnord from $167.00 to $172.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. The Goldman Sachs Group decreased their target price on Regal Rexnord from $183.00 to $163.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Finally, Citigroup increased their price target on Regal Rexnord from $110.00 to $145.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $171.25.

Regal Rexnord Stock Up 1.3%

RRX traded up $1.83 during midday trading on Tuesday, reaching $143.92. 635,280 shares of the company were exchanged, compared to its average volume of 579,949. The company has a market cap of $9.55 billion, a price-to-earnings ratio of 48.79, a price-to-earnings-growth ratio of 1.37 and a beta of 1.16. Regal Rexnord Co. has a one year low of $90.56 and a one year high of $185.28. The company's fifty day moving average price is $120.39 and its 200 day moving average price is $137.28. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.25 and a current ratio of 2.26.

Regal Rexnord (NYSE:RRX - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $2.15 EPS for the quarter, beating analysts' consensus estimates 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 analyst estimates of $1.38 billion. During the same period in the prior year, the firm posted $2.00 EPS. Regal Rexnord's quarterly revenue was down 8.4% compared to the same quarter last year. As a group, analysts expect that Regal Rexnord Co. will post 9.95 EPS for the current year.

Regal Rexnord Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 14th. Investors of record on Monday, June 30th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend is Monday, June 30th. Regal Rexnord's payout ratio is currently 39.89%.

Insider Buying and Selling

In other Regal Rexnord news, CEO Louis V. Pinkham sold 10,593 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $140.33, for a total value of $1,486,515.69. Following the completion of the sale, the chief executive officer now owns 175,954 shares in the company, valued at approximately $24,691,624.82. This trade represents a 5.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.82% of the stock is owned by corporate insiders.

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.