Quantinno Capital Management LP Increases Position in Regal Rexnord Co. (NYSE:RRX)

Quantinno Capital Management LP grew its position in Regal Rexnord Co. (NYSE:RRX - Free Report) by 77.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,240 shares of the company's stock after buying an additional 4,024 shares during the period. Quantinno Capital Management LP's holdings in Regal Rexnord were worth $1,433,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Bank Julius Baer & Co. Ltd Zurich grew its position in Regal Rexnord by 7.4% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,111 shares of the company's stock worth $190,000 after acquiring an additional 77 shares during the period. Moors & Cabot Inc. boosted its position in shares of Regal Rexnord by 4.1% during the 4th quarter. Moors & Cabot Inc. now owns 2,139 shares of the company's stock worth $332,000 after purchasing an additional 85 shares during the period. Kovitz Investment Group Partners LLC increased its holdings in Regal Rexnord by 3.8% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,382 shares of the company's stock valued at $370,000 after purchasing an additional 87 shares during the last quarter. Advisory Research Inc. raised its position in Regal Rexnord by 1.5% in the fourth quarter. Advisory Research Inc. now owns 6,710 shares of the company's stock valued at $1,041,000 after purchasing an additional 98 shares during the period. Finally, CIBC Asset Management Inc lifted its stake in Regal Rexnord by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 2,061 shares of the company's stock worth $320,000 after purchasing an additional 101 shares in the last quarter. Institutional investors and hedge funds own 99.72% of the company's stock.

Insiders Place Their Bets

In other news, CEO Louis V. Pinkham sold 10,593 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 175,954 shares of the company's stock, valued at approximately $24,691,624.82. This represents a 5.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.82% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on RRX shares. The Goldman Sachs Group cut their price objective on Regal Rexnord from $183.00 to $163.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. KeyCorp cut their price target on shares of Regal Rexnord from $180.00 to $125.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Citigroup raised their price objective on shares of Regal Rexnord from $110.00 to $145.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Wall Street Zen raised shares of Regal Rexnord from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. Finally, Robert W. Baird lifted their target price on Regal Rexnord from $167.00 to $172.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Regal Rexnord presently has an average rating of "Buy" and an average price target of $171.25.

Regal Rexnord Stock Down 2.0%

RRX stock traded down $2.74 during midday trading on Wednesday, reaching $136.83. 88,679 shares of the company were exchanged, compared to its average volume of 572,193. The stock's 50-day simple moving average is $116.56 and its 200 day simple moving average is $139.73. Regal Rexnord Co. has a 1-year low of $90.56 and a 1-year high of $185.28. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.25 and a current ratio of 2.26. The company has a market cap of $9.08 billion, a price-to-earnings ratio of 46.39, a price-to-earnings-growth ratio of 1.37 and a beta of 1.11.

Regal Rexnord (NYSE:RRX - Get Free Report) last released 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. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.38 billion. Regal Rexnord had a net margin of 3.25% and a return on equity of 9.57%. Regal Rexnord's revenue for the quarter was down 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.00 earnings per share. On average, equities analysts forecast that Regal Rexnord Co. will post 9.95 earnings per share for the current year.

Regal Rexnord Dividend Announcement

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 paid a dividend of $0.35 per share. The ex-dividend date is Monday, June 30th. This represents a $1.40 dividend on an annualized basis and a yield of 1.02%. Regal Rexnord's dividend payout ratio is presently 39.89%.

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.