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

GAMMA Investing LLC raised its position in Regal Rexnord Co. (NYSE:RRX - Free Report) by 11,369.4% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 123,755 shares of the company's stock after purchasing an additional 122,676 shares during the period. GAMMA Investing LLC owned 0.19% of Regal Rexnord worth $14,090,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. raised 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 acquiring an additional 247,673 shares during the period. Atria Investments Inc raised its holdings in shares of 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 during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of 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 during the period. Norges Bank purchased a new position in shares of Regal Rexnord during the 4th quarter worth $235,188,000. Finally, Jones Financial Companies Lllp raised its holdings in shares of Regal Rexnord by 90.5% during the 4th quarter. Jones Financial Companies Lllp now owns 322 shares of the company's stock worth $50,000 after acquiring an additional 153 shares during the period. Hedge funds and other institutional investors own 99.72% of the company's stock.

Regal Rexnord Stock Up 1.2%

Shares of RRX opened at $140.05 on Friday. The firm has a market cap of $9.29 billion, a P/E ratio of 47.48, a price-to-earnings-growth ratio of 1.37 and a beta of 1.16. Regal Rexnord Co. has a 12-month low of $90.56 and a 12-month high of $185.28. The company's 50-day moving average price is $119.16 and its 200 day moving average price is $137.97. The company has a current ratio of 2.26, a quick ratio of 1.25 and a debt-to-equity ratio of 0.87.

Regal Rexnord (NYSE:RRX - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $2.15 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.33. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.38 billion. Regal Rexnord had a return on equity of 9.57% and a net margin of 3.25%. Regal Rexnord's revenue was down 8.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.00 EPS. On average, sell-side analysts forecast that Regal Rexnord Co. will post 9.95 earnings per share for the current year.

Regal Rexnord Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 14th. Shareholders of record on Monday, June 30th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend is Monday, June 30th. Regal Rexnord's dividend payout ratio is currently 39.89%.

Insider Buying and Selling at Regal Rexnord

In other Regal Rexnord news, CEO Louis V. Pinkham sold 10,593 shares of Regal Rexnord stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.82% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Citigroup lifted 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. Wall Street Zen upgraded Regal Rexnord from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd. Barclays boosted 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. KeyCorp reduced their price objective on shares of Regal Rexnord from $180.00 to $125.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, The Goldman Sachs Group reduced their price objective on shares of Regal Rexnord from $183.00 to $163.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $171.25.

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.

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