Leeward Investments LLC MA Has $35.47 Million Stock Position in Regal Rexnord Co. (NYSE:RRX)

Leeward Investments LLC MA trimmed its stake in Regal Rexnord Co. (NYSE:RRX - Free Report) by 1.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 239,618 shares of the company's stock after selling 4,750 shares during the period. Regal Rexnord comprises about 1.7% of Leeward Investments LLC MA's investment portfolio, making the stock its 4th biggest position. Leeward Investments LLC MA owned about 0.36% of Regal Rexnord worth $35,468,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of RRX. Third Point LLC acquired a new stake in Regal Rexnord in the 3rd quarter worth $92,872,000. William Blair Investment Management LLC acquired a new stake in shares of Regal Rexnord during the 3rd quarter valued at about $71,899,000. Allspring Global Investments Holdings LLC boosted its position in shares of Regal Rexnord by 80.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 509,265 shares of the company's stock valued at $75,382,000 after acquiring an additional 226,435 shares in the last quarter. Ceredex Value Advisors LLC acquired a new stake in shares of Regal Rexnord during the 3rd quarter valued at about $31,195,000. Finally, Blackstone Inc. acquired a new stake in shares of Regal Rexnord during the 3rd quarter valued at about $27,862,000. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Regal Rexnord news, EVP Jerrald R. Morton sold 2,992 shares of the business's stock in a transaction dated Monday, February 12th. The shares were 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 $2,451,536.56. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Regal Rexnord news, EVP Thomas E. Valentyn sold 1,931 shares of the business's stock in a transaction dated 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 transaction, the executive vice president now directly owns 27,180 shares of the company's stock, valued at $4,514,326.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Jerrald R. Morton sold 2,992 shares of the business's stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $154.34, for a total transaction 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 $2,451,536.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,570 shares of company stock valued at $892,301. Insiders own 0.82% of the company's stock.

Analysts Set New Price Targets

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

Regal Rexnord Price Performance

NYSE:RRX traded up $2.14 on Friday, reaching $164.11. The stock had a trading volume of 285,168 shares, compared to its average volume of 406,838. The company has a market capitalization of $10.91 billion, a P/E ratio of -188.63, a price-to-earnings-growth ratio of 1.61 and a beta of 1.14. Regal Rexnord Co. has a 1-year low of $97.18 and a 1-year high of $183.85. 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 stock has a fifty day moving average price of $169.93 and a 200-day moving average price of $144.87.

Regal Rexnord (NYSE:RRX - Get Free Report) last released its quarterly earnings results on Wednesday, February 7th. The company reported $2.28 EPS for the quarter, beating analysts' consensus estimates of $2.26 by $0.02. The firm 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%. The company's revenue for the quarter was up 29.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.64 earnings per share. Research analysts forecast that Regal Rexnord Co. will post 10.05 EPS for the current year.

Regal Rexnord Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend is Friday, June 28th. Regal Rexnord's dividend payout ratio is presently -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.