Regal Rexnord Co. (NYSE:RRX) Shares Bought by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC raised its stake in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) by 85.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 283,705 shares of the company's stock after acquiring an additional 130,415 shares during the period. TimesSquare Capital Management LLC owned approximately 0.43% of Regal Rexnord worth $41,994,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Cary Street Partners Investment Advisory LLC raised its position in Regal Rexnord by 652.2% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 173 shares of the company's stock valued at $25,000 after purchasing an additional 150 shares during the period. GAMMA Investing LLC purchased a new position in Regal Rexnord during the 4th quarter valued at about $58,000. Benjamin F. Edwards & Company Inc. acquired a new position in Regal Rexnord in the 4th quarter valued at about $100,000. CWM LLC lifted its position in shares of Regal Rexnord by 48.5% during the fourth quarter. CWM LLC now owns 738 shares of the company's stock worth $109,000 after purchasing an additional 241 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its stake in shares of Regal Rexnord by 63.9% in the fourth quarter. Global Retirement Partners LLC now owns 808 shares of the company's stock valued at $109,000 after purchasing an additional 315 shares during the period. 99.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on RRX shares. Robert W. Baird increased their target price on shares of Regal Rexnord from $205.00 to $208.00 and gave the stock an "outperform" rating in a report on Wednesday. KeyCorp boosted their target price on Regal Rexnord from $180.00 to $210.00 and gave the stock an "overweight" rating in a research note on Monday, March 25th. Barclays reduced their price target on Regal Rexnord from $203.00 to $199.00 and set an "overweight" rating on the stock in a research report on Wednesday. Finally, Oppenheimer upped their target price on shares of Regal Rexnord from $185.00 to $210.00 and gave the stock an "outperform" rating in a research note on Wednesday, March 13th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $195.60.

Insider Activity at Regal Rexnord

In related news, EVP Thomas E. Valentyn sold 1,931 shares of the business's stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $166.09, for a total value of $320,719.79. Following the transaction, the executive vice president now owns 27,180 shares in the company, valued at approximately $4,514,326.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Thomas E. Valentyn sold 1,931 shares of Regal Rexnord 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 sale, the executive vice president now 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 can be accessed through this hyperlink. Also, EVP Jerrald R. Morton sold 2,992 shares of the firm's stock in a transaction dated 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 disclosure for this sale can be found here. Insiders sold a total of 5,570 shares of company stock worth $892,301 in the last 90 days. 0.82% of the stock is owned by insiders.

Regal Rexnord Stock Up 2.3 %

RRX stock traded up $3.63 during trading on Thursday, hitting $161.00. 327,245 shares of the company's stock were exchanged, compared to its average volume of 463,133. The stock has a market capitalization of $10.71 billion, a price-to-earnings ratio of -185.78, a PEG ratio of 1.64 and a beta of 1.16. Regal Rexnord Co. has a 52-week low of $97.18 and a 52-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 business has a 50-day moving average price of $169.44 and a two-hundred day moving average price of $146.68.

Regal Rexnord (NYSE:RRX - Get Free Report) last issued its earnings results on Monday, May 6th. The company reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.02. Regal Rexnord had a negative net margin of 0.92% and a positive return on equity of 9.58%. The business had revenue of $1.55 billion during the quarter, compared to analysts' expectations of $1.56 billion. During the same quarter in the prior year, the business posted $2.22 EPS. The company's revenue for the quarter was up 26.4% on a year-over-year basis. As a group, equities research analysts expect that Regal Rexnord Co. will post 10.05 EPS for the current year.

Regal Rexnord Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Friday, June 28th. Regal Rexnord's dividend payout ratio (DPR) is -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.

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