Y Intercept Hong Kong Ltd Buys 8,972 Shares of Regal Rexnord Corporation $RRX

Key Points

• Y Intercept Hong Kong Ltd increased its stake in Regal Rexnord by 142.6% in the first quarter, buying 8,972 additional shares and bringing its total holding to 15,262 shares worth about $2.86 million.
• Insider selling was notable, with CEO Louis V. Pinkham and CFO Robert Rehard both selling shares in May; insiders sold 30,305 shares total over the last 90 days.
• Regal Rexnord recently beat earnings expectations, reporting $2.17 EPS on $1.48 billion in revenue, and it also announced a quarterly dividend of $0.35 per share payable July 14.

Y Intercept Hong Kong Ltd boosted its stake in shares of Regal Rexnord Corporation (NYSE:RRX - Free Report) by 142.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,262 shares of the company's stock after acquiring an additional 8,972 shares during the period. Y Intercept Hong Kong Ltd's holdings in Regal Rexnord were worth $2,858,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Victory Capital Management Inc. boosted its holdings in shares of Regal Rexnord by 42.6% during the 4th quarter. Victory Capital Management Inc. now owns 5,658,365 shares of the company's stock valued at $793,983,000 after purchasing an additional 1,690,264 shares during the last quarter. Viking Global Investors LP increased its holdings in shares of Regal Rexnord by 25.7% in the second quarter. Viking Global Investors LP now owns 3,430,128 shares of the company's stock worth $497,231,000 after purchasing an additional 701,145 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Regal Rexnord by 5.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,530,092 shares of the company's stock worth $355,031,000 after purchasing an additional 131,171 shares during the last quarter. Invesco Ltd. lifted its position in shares of Regal Rexnord by 27.1% in the fourth quarter. Invesco Ltd. now owns 1,905,828 shares of the company's stock worth $267,426,000 after buying an additional 405,828 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in Regal Rexnord by 7.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,251,095 shares of the company's stock valued at $175,554,000 after buying an additional 85,242 shares during the last quarter. Hedge funds and other institutional investors own 99.72% of the company's stock.

Insider Buying and Selling

In related news, CEO Louis V. Pinkham sold 22,509 shares of the company's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $211.68, for a total transaction of $4,764,705.12. Following the transaction, the chief executive officer directly owned 56,749 shares in the company, valued at approximately $12,012,628.32. This represents a 28.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Robert Rehard sold 6,499 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $200.00, for a total transaction of $1,299,800.00. Following the completion of the sale, the chief financial officer directly owned 27,965 shares in the company, valued at $5,593,000. This trade represents a 18.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 30,305 shares of company stock valued at $6,341,869. Company insiders own 0.63% of the company's stock.

Regal Rexnord Price Performance

Shares of Regal Rexnord stock opened at $211.44 on Wednesday. The stock has a market cap of $14.08 billion, a price-to-earnings ratio of 49.17, a price-to-earnings-growth ratio of 2.05 and a beta of 1.08. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.08 and a current ratio of 2.17. The stock has a 50 day moving average price of $212.40 and a 200-day moving average price of $193.86. Regal Rexnord Corporation has a one year low of $127.96 and a one year high of $247.80.

Regal Rexnord (NYSE:RRX - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $2.11 by $0.06. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.43 billion. Regal Rexnord had a return on equity of 9.49% and a net margin of 4.78%.Regal Rexnord's quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.15 EPS. Equities analysts expect that Regal Rexnord Corporation will post 10.64 EPS for the current year.

Regal Rexnord Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Tuesday, June 30th. Regal Rexnord's dividend payout ratio (DPR) is 32.56%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Weiss Ratings restated a "hold (c)" rating on shares of Regal Rexnord in a report on Tuesday, April 21st. JPMorgan Chase & Co. increased their target price on Regal Rexnord from $230.00 to $240.00 and gave the company an "overweight" rating in a research report on Tuesday, May 26th. DA Davidson began coverage on shares of Regal Rexnord in a research report on Tuesday, June 16th. They issued a "buy" rating and a $260.00 price target on the stock. UBS Group set a $260.00 price target on shares of Regal Rexnord in a research note on Monday, June 15th. Finally, Barclays increased their price objective on shares of Regal Rexnord from $237.00 to $245.00 and gave the company an "overweight" rating in a research report on Monday, March 23rd. Seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $237.80.

Regal Rexnord Company Profile

Regal Rexnord Corporation NYSE: RRX is a global industrial manufacturer specializing in electric motors, power generation equipment and automated motion control systems. The company designs, engineers and produces a broad portfolio of products that includes energy-efficient electric motors, variable frequency drives, gearboxes, couplings, bearings and power transmission components. These offerings support critical applications in industries such as heating, ventilation and air conditioning (HVAC), refrigeration, data centers, water treatment, food and beverage processing, mining, oil and gas, and material handling.

The company's operations are organized into multiple business segments that address distinct customer needs.

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