New Age Alpha Advisors LLC Acquires 2,638 Shares of Regal Rexnord Corporation (NYSE:RRX)

Key Points

• New Age Alpha Advisors LLC increased its holdings in Regal Rexnord Corporation by 6.4%, now owning 44,065 shares valued at approximately $5 million.
• Regal Rexnord CEO Louis V. Pinkham sold over 10,500 shares for approximately $1.49 million, reducing his ownership by 5.68%.
• Several investment analysts have raised their price targets for Regal Rexnord, with Barclays setting a new target of $165 and Goldman Sachs increasing theirs to $195.

New Age Alpha Advisors LLC boosted its stake in shares of Regal Rexnord Corporation (NYSE:RRX - Free Report) by 6.4% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 44,065 shares of the company's stock after acquiring an additional 2,638 shares during the period. New Age Alpha Advisors LLC owned 0.07% of Regal Rexnord worth $5,017,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of RRX. LPL Financial LLC grew its position in shares of Regal Rexnord by 14.2% during the fourth quarter. LPL Financial LLC now owns 32,007 shares of the company's stock valued at $4,965,000 after purchasing an additional 3,982 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in Regal Rexnord during the fourth quarter valued at approximately $747,000. O Shaughnessy Asset Management LLC grew its holdings in Regal Rexnord by 6.6% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 5,265 shares of the company's stock valued at $817,000 after buying an additional 328 shares in the last quarter. Wells Fargo & Company MN increased its stake in Regal Rexnord by 28.8% in the 4th quarter. Wells Fargo & Company MN now owns 107,994 shares of the company's stock worth $16,753,000 after acquiring an additional 24,146 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Regal Rexnord by 10.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 74,169 shares of the company's stock worth $11,506,000 after acquiring an additional 7,275 shares in the last quarter. 99.72% of the stock is currently owned by institutional investors.

Regal Rexnord Trading Down 3.2%

RRX traded down $4.63 during trading hours on Thursday, reaching $141.01. 1,338,977 shares of the company's stock traded hands, compared to its average volume of 914,563. The firm has a 50-day moving average price of $146.19 and a 200 day moving average price of $133.28. The firm has a market capitalization of $9.35 billion, a PE ratio of 37.50, a PEG ratio of 1.48 and a beta of 1.18. The company has a quick ratio of 1.21, a current ratio of 2.00 and a debt-to-equity ratio of 0.72. Regal Rexnord Corporation has a 52-week low of $90.56 and a 52-week high of $185.28.

Regal Rexnord (NYSE:RRX - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $2.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.42 by $0.06. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.50 billion. Regal Rexnord had a net margin of 4.28% and a return on equity of 9.73%. The business's revenue was down 3.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.29 earnings per share. As a group, sell-side analysts predict that Regal Rexnord Corporation will post 9.95 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 14th. Investors of record on Tuesday, September 30th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.40 annualized dividend and a yield of 1.0%. Regal Rexnord's dividend payout ratio is 37.23%.

Analyst Ratings Changes

A number of equities analysts have commented on RRX shares. Citigroup reissued a "buy" rating and issued a $165.00 price objective (up from $145.00) on shares of Regal Rexnord in a research note on Tuesday, June 24th. The Goldman Sachs Group increased their price target on shares of Regal Rexnord from $173.00 to $195.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. KeyCorp set a $180.00 price target on Regal Rexnord and gave the stock an "overweight" rating in a research report on Thursday, June 26th. Barclays boosted their price objective on Regal Rexnord from $160.00 to $165.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 9th. 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $185.25.

Insider Transactions at Regal Rexnord

In other Regal Rexnord news, CEO Louis V. Pinkham sold 10,593 shares of the firm's stock in a transaction on 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 transaction, the chief executive officer directly owned 175,954 shares in the company, valued at $24,691,624.82. This trade represents a 5.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.82% of the stock is currently owned by company 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.