Westhampton Capital LLC Has $1.92 Million Position in Regal Rexnord Corporation (NYSE:RRX)

Westhampton Capital LLC grew its stake in shares of Regal Rexnord Corporation (NYSE:RRX - Free Report) by 40.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,895 shares of the company's stock after acquiring an additional 4,840 shares during the period. Westhampton Capital LLC's holdings in Regal Rexnord were worth $1,923,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Skandinaviska Enskilda Banken AB publ increased its holdings in shares of Regal Rexnord by 472.4% in the fourth 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 period. Bernard Wealth Management Corp. acquired a new stake in shares of Regal Rexnord in the fourth quarter worth $30,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Regal Rexnord during the fourth quarter worth $33,000. Jones Financial Companies Lllp grew its position in 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 purchasing an additional 153 shares during the period. Finally, Smartleaf Asset Management LLC raised its stake in shares of Regal Rexnord by 45.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 337 shares of the company's stock valued at $52,000 after buying an additional 105 shares during the last quarter. Hedge funds and other institutional investors own 99.72% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on RRX. The Goldman Sachs Group cut their price objective on shares of Regal Rexnord from $183.00 to $163.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Citigroup raised their price objective on Regal Rexnord from $145.00 to $165.00 and gave the stock a "buy" rating in a research report on Tuesday. Wall Street Zen upgraded Regal Rexnord from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. 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. Finally, KeyCorp lowered their price target on Regal Rexnord from $180.00 to $125.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $173.75.

Regal Rexnord Price Performance

Shares of RRX stock traded down $1.30 during mid-day trading on Wednesday, hitting $143.83. 850,310 shares of the stock traded hands, compared to its average volume of 584,558. Regal Rexnord Corporation has a twelve month low of $90.56 and a twelve month high of $185.28. The firm has a market cap of $9.54 billion, a price-to-earnings ratio of 40.98, a price-to-earnings-growth ratio of 1.49 and a beta of 1.16. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.21 and a current ratio of 2.26. The company's 50-day simple moving average is $129.72 and its 200-day simple moving average is $135.14.

Regal Rexnord (NYSE:RRX - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported $2.15 EPS for the quarter, beating the consensus estimate of $1.82 by $0.33. Regal Rexnord had a net margin of 3.96% and a return on equity of 9.67%. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the prior year, the firm earned $2.00 EPS. The firm's quarterly revenue was down 8.4% on a year-over-year basis. As a group, equities research analysts expect that Regal Rexnord Corporation will post 9.95 earnings per share for the current year.

Regal Rexnord Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 14th. Shareholders of record on Monday, June 30th will be issued a dividend of $0.35 per share. The ex-dividend date is Monday, June 30th. This represents a $1.40 annualized dividend and a yield of 0.97%. Regal Rexnord's dividend payout ratio (DPR) is presently 39.89%.

Insider Activity

In other Regal Rexnord news, CEO Louis V. Pinkham sold 10,593 shares of the firm's 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 sale, the chief executive officer now owns 175,954 shares of the company's stock, valued at $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 available through this link. Insiders own 0.82% of the company's stock.

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.