3,546 Shares in Regal Rexnord Co. (NYSE:RRX) Acquired by Occudo Quantitative Strategies LP

Occudo Quantitative Strategies LP bought a new position in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,546 shares of the company's stock, valued at approximately $550,000.

A number of other large investors have also modified their holdings of the business. Millennium Management LLC grew its holdings in shares of Regal Rexnord by 313.6% during the fourth quarter. Millennium Management LLC now owns 241,712 shares of the company's stock worth $37,497,000 after buying an additional 183,272 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Regal Rexnord by 5.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 456,541 shares of the company's stock worth $70,823,000 after buying an additional 24,794 shares in the last quarter. Lighthouse Investment Partners LLC grew its holdings in shares of Regal Rexnord by 1,089.4% during the fourth quarter. Lighthouse Investment Partners LLC now owns 39,000 shares of the company's stock worth $6,050,000 after buying an additional 35,721 shares in the last quarter. Jefferies Financial Group Inc. purchased a new stake in shares of Regal Rexnord during the fourth quarter worth $1,427,000. Finally, Hudson Bay Capital Management LP purchased a new stake in shares of Regal Rexnord during the fourth quarter worth $7,601,000. Hedge funds and other institutional investors own 99.72% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on RRX. Citigroup boosted their price target on shares of Regal Rexnord from $110.00 to $145.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. KeyCorp lowered their price target on shares of Regal Rexnord from $180.00 to $125.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Robert W. Baird boosted their price target on shares of Regal Rexnord from $167.00 to $172.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Oppenheimer lowered their price target on shares of Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating on the stock in a research report on Friday, February 7th. Finally, Barclays boosted their price target on shares of Regal Rexnord from $155.00 to $160.00 and gave the company an "overweight" rating in a research report on Monday, May 12th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $171.25.

Insider Transactions at Regal Rexnord

In other news, CEO Louis V. Pinkham sold 10,593 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $140.33, for a total transaction of $1,486,515.69. Following the sale, the chief executive officer now owns 175,954 shares of the company's stock, valued at approximately $24,691,624.82. This represents a 5.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.82% of the company's stock.

Regal Rexnord Trading Up 1.3%

NYSE RRX traded up $1.82 during trading hours on Friday, reaching $141.52. The company had a trading volume of 870,875 shares, compared to its average volume of 570,084. The stock has a 50-day moving average of $114.03 and a 200 day moving average of $141.45. Regal Rexnord Co. has a 1-year low of $90.56 and a 1-year high of $185.28. The company has a current ratio of 2.26, a quick ratio of 1.25 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $9.39 billion, a P/E ratio of 47.97, a price-to-earnings-growth ratio of 1.37 and a beta of 1.11.

Regal Rexnord (NYSE:RRX - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported $2.15 EPS for the quarter, beating analysts' consensus estimates of $1.82 by $0.33. Regal Rexnord had a net margin of 3.25% and a return on equity of 9.57%. The company had revenue of $1.42 billion for the quarter, compared to analysts' expectations of $1.38 billion. During the same quarter in the prior year, the company posted $2.00 earnings per share. Regal Rexnord's revenue for the quarter was down 8.4% compared to the same quarter last year. As a group, research analysts anticipate that Regal Rexnord Co. will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 14th. Stockholders of record on Monday, June 30th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.40 annualized dividend and a dividend yield of 0.99%. Regal Rexnord's dividend payout ratio is presently 39.89%.

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.