Clearbridge Investments LLC Purchases 49,261 Shares of Regal Rexnord Co. (NYSE:RRX)

Clearbridge Investments LLC increased its holdings in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) by 5.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 927,358 shares of the company's stock after acquiring an additional 49,261 shares during the quarter. Clearbridge Investments LLC owned approximately 1.40% of Regal Rexnord worth $137,268,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Commonwealth Equity Services LLC lifted its position in Regal Rexnord by 3.7% in the 3rd quarter. Commonwealth Equity Services LLC now owns 3,277 shares of the company's stock valued at $468,000 after purchasing an additional 118 shares during the last quarter. Lmcg Investments LLC increased its position in Regal Rexnord by 2.1% in the 3rd quarter. Lmcg Investments LLC now owns 16,303 shares of the company's stock valued at $2,329,000 after acquiring an additional 338 shares during the period. Private Advisor Group LLC acquired a new position in Regal Rexnord during the 3rd quarter worth $202,000. NBC Securities Inc. bought a new position in shares of Regal Rexnord in the third quarter worth $177,000. Finally, Victory Capital Management Inc. increased its holdings in shares of Regal Rexnord by 8.9% during the third quarter. Victory Capital Management Inc. now owns 60,888 shares of the company's stock valued at $8,700,000 after purchasing an additional 4,981 shares during the period. Institutional investors own 99.72% of the company's stock.

Regal Rexnord Price Performance

Regal Rexnord stock traded down $2.33 during mid-day trading on Tuesday, hitting $157.84. The company's stock had a trading volume of 207,723 shares, compared to its average volume of 448,534. The stock has a market capitalization of $10.50 billion, a P/E ratio of -328.83, a P/E/G ratio of 1.62 and a beta of 1.16. The company has a quick ratio of 1.56, a current ratio of 2.62 and a debt-to-equity ratio of 0.99. The stock's fifty day moving average price is $167.72 and its two-hundred day moving average price is $149.84. Regal Rexnord Co. has a twelve month low of $97.18 and a twelve month high of $183.85.

Regal Rexnord (NYSE:RRX - Get Free Report) last announced its earnings results on Monday, May 6th. The company reported $2.00 EPS for the quarter, beating the consensus estimate of $1.98 by $0.02. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.56 billion. Regal Rexnord had a positive return on equity of 9.42% and a negative net margin of 0.48%. Regal Rexnord's revenue was up 26.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.22 earnings per share. Research analysts forecast that Regal Rexnord Co. will post 9.88 earnings per share for the current year.

Regal Rexnord Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.35 per share. The ex-dividend date is Friday, June 28th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.89%. Regal Rexnord's dividend payout ratio is currently -291.67%.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on RRX. StockNews.com lowered shares of Regal Rexnord from a "buy" rating to a "hold" rating in a research report on Tuesday. Oppenheimer raised their price objective on shares of Regal Rexnord from $185.00 to $210.00 and gave the company an "outperform" rating in a research note on Wednesday, March 13th. Robert W. Baird upped their target price on Regal Rexnord from $205.00 to $208.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 8th. KeyCorp lifted their price target on 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 cut their price objective on Regal Rexnord from $203.00 to $199.00 and set an "overweight" rating for the company in a report on Wednesday, May 8th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Regal Rexnord has a consensus rating of "Moderate Buy" and an average target price of $195.60.

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.