Allspring Global Investments Holdings LLC Boosts Stock Holdings in Regal Rexnord Co. (NYSE:RRX)

Allspring Global Investments Holdings LLC boosted its position in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) by 80.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 509,265 shares of the company's stock after buying an additional 226,435 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.77% of Regal Rexnord worth $75,382,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Cary Street Partners Investment Advisory LLC boosted its position in shares of Regal Rexnord by 652.2% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 173 shares of the company's stock worth $25,000 after acquiring an additional 150 shares in the last quarter. Belpointe Asset Management LLC lifted its position in shares of Regal Rexnord by 139.1% during the 1st quarter. Belpointe Asset Management LLC now owns 208 shares of the company's stock worth $29,000 after buying an additional 121 shares during the last quarter. Janiczek Wealth Management LLC lifted its position in shares of Regal Rexnord by 45.4% during the 3rd quarter. Janiczek Wealth Management LLC now owns 282 shares of the company's stock worth $40,000 after buying an additional 88 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in Regal Rexnord in the first quarter valued at about $42,000. Finally, ICA Group Wealth Management LLC bought a new position in Regal Rexnord in the fourth quarter valued at about $57,000. 99.72% of the stock is owned by institutional investors.

Insider Buying and Selling at Regal Rexnord

In other news, EVP Jerrald R. Morton sold 2,992 shares of Regal Rexnord stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $154.34, for a total value of $461,785.28. Following the completion of the transaction, the executive vice president now directly owns 15,884 shares of the company's stock, valued at approximately $2,451,536.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Jerrald R. Morton sold 2,992 shares of the firm's stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $154.34, for a total transaction of $461,785.28. Following the completion of the sale, the executive vice president now owns 15,884 shares of the company's stock, valued at approximately $2,451,536.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Thomas E. Valentyn sold 647 shares of Regal Rexnord stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $169.70, for a total transaction of $109,795.90. Following the completion of the sale, the executive vice president now owns 28,412 shares of the company's stock, valued at approximately $4,821,516.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,570 shares of company stock valued at $892,301. 0.82% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Barclays increased their target price on shares of Regal Rexnord from $200.00 to $203.00 and gave the stock an "overweight" rating in a report on Tuesday, April 2nd. KeyCorp upped their price objective on shares of Regal Rexnord from $180.00 to $210.00 and gave the stock an "overweight" rating in a research report on Monday, March 25th. Finally, Oppenheimer upped their price target on shares of Regal Rexnord from $185.00 to $210.00 and gave the stock an "outperform" rating in a report on Wednesday, March 13th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Regal Rexnord currently has a consensus rating of "Moderate Buy" and an average target price of $197.00.

Regal Rexnord Trading Down 2.9 %

NYSE:RRX traded down $4.97 during mid-day trading on Wednesday, hitting $166.83. 446,739 shares of the company's stock were exchanged, compared to its average volume of 461,796. Regal Rexnord Co. has a fifty-two week low of $97.18 and a fifty-two week high of $183.85. The company has a current ratio of 2.55, a quick ratio of 1.59 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $11.08 billion, a P/E ratio of -191.76, a PEG ratio of 1.72 and a beta of 1.14. The company has a 50 day simple moving average of $166.25 and a 200-day simple moving average of $142.93.

Regal Rexnord (NYSE:RRX - Get Free Report) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $2.28 EPS for the quarter, topping analysts' consensus estimates of $2.26 by $0.02. The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.63 billion. Regal Rexnord had a negative net margin of 0.92% and a positive return on equity of 9.58%. Regal Rexnord's revenue was up 29.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.64 earnings per share. As a group, research analysts expect that Regal Rexnord Co. will post 10.05 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 12th. Stockholders of record on Thursday, March 28th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend is Wednesday, March 27th. Regal Rexnord's dividend payout ratio is currently -160.92%.

Regal Rexnord 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.