Federated Hermes Inc. Raises Holdings in Regal Rexnord Co. (NYSE:RRX)

Federated Hermes Inc. raised its position in Regal Rexnord Co. (NYSE:RRX - Free Report) by 933.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,556 shares of the company's stock after acquiring an additional 81,793 shares during the quarter. Federated Hermes Inc. owned approximately 0.14% of Regal Rexnord worth $13,404,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Cary Street Partners Investment Advisory LLC grew its position in shares of Regal Rexnord by 652.2% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 173 shares of the company's stock worth $25,000 after buying an additional 150 shares in the last quarter. Global Retirement Partners LLC increased its holdings in shares of Regal Rexnord by 18.5% in the third quarter. Global Retirement Partners LLC now owns 493 shares of the company's stock valued at $68,000 after purchasing an additional 77 shares during the period. International Assets Investment Management LLC increased its holdings in shares of Regal Rexnord by 11,000.0% in the fourth quarter. International Assets Investment Management LLC now owns 888 shares of the company's stock valued at $131,000 after purchasing an additional 880 shares during the period. Arlington Trust Co LLC acquired a new position in shares of Regal Rexnord in the fourth quarter valued at approximately $140,000. Finally, NBC Securities Inc. acquired a new position in shares of Regal Rexnord in the third quarter valued at approximately $177,000. 99.72% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Regal Rexnord

In other news, EVP Thomas E. Valentyn sold 647 shares of the company's stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $169.70, for a total value of $109,795.90. Following the sale, the executive vice president now directly owns 28,412 shares in the company, valued at $4,821,516.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Thomas E. Valentyn sold 647 shares of the company's stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $169.70, for a total value of $109,795.90. Following the sale, the executive vice president now directly owns 28,412 shares in the company, valued at $4,821,516.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Thomas E. Valentyn sold 1,931 shares of the company's stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $166.09, for a total value of $320,719.79. Following the completion of the sale, the executive vice president now owns 27,180 shares in the company, valued at $4,514,326.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,570 shares of company stock valued at $892,301. Insiders own 0.82% of the company's stock.

Wall Street Analyst Weigh In

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

Regal Rexnord Price Performance

RRX stock traded up $3.01 on Tuesday, reaching $166.74. 396,911 shares of the company's stock were exchanged, compared to its average volume of 462,568. The company has a quick ratio of 1.59, a current ratio of 2.55 and a debt-to-equity ratio of 1.00. The firm has a market cap of $11.08 billion, a PE ratio of -191.65, a P/E/G ratio of 1.59 and a beta of 1.14. Regal Rexnord Co. has a twelve month low of $97.18 and a twelve month high of $183.85. The stock has a fifty day moving average of $169.57 and a 200-day moving average of $144.34.

Regal Rexnord (NYSE:RRX - Get Free Report) last posted its earnings results on Wednesday, February 7th. The company reported $2.28 earnings per share for the quarter, beating the consensus estimate 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 positive return on equity of 9.58% and a negative net margin of 0.92%. Regal Rexnord's revenue was up 29.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.64 earnings per share. As a group, equities analysts predict that Regal Rexnord Co. will post 10.05 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Thursday, March 28th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.84%. The ex-dividend date was Wednesday, March 27th. Regal Rexnord's dividend payout ratio (DPR) is -160.92%.

About Regal Rexnord

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.