Regal Rexnord Co. (NYSE:RRX) Shares Bought by Systematic Financial Management LP

Systematic Financial Management LP lifted its position in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) by 5.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 165,778 shares of the company's stock after acquiring an additional 7,950 shares during the period. Systematic Financial Management LP owned about 0.25% of Regal Rexnord worth $25,717,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in RRX. Bank Julius Baer & Co. Ltd Zurich increased its stake in Regal Rexnord by 7.4% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,111 shares of the company's stock valued at $190,000 after purchasing an additional 77 shares during the last quarter. Moors & Cabot Inc. boosted its holdings in shares of Regal Rexnord by 4.1% in the 4th quarter. Moors & Cabot Inc. now owns 2,139 shares of the company's stock valued at $332,000 after buying an additional 85 shares during the period. Kovitz Investment Group Partners LLC grew its position in shares of Regal Rexnord by 3.8% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,382 shares of the company's stock valued at $370,000 after buying an additional 87 shares during the last quarter. Advisory Research Inc. grew its position in shares of Regal Rexnord by 1.5% during the 4th quarter. Advisory Research Inc. now owns 6,710 shares of the company's stock valued at $1,041,000 after buying an additional 98 shares during the last quarter. Finally, CIBC Asset Management Inc raised its stake in Regal Rexnord by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 2,061 shares of the company's stock worth $320,000 after acquiring an additional 101 shares during the period. 99.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on RRX. KeyCorp decreased their target price on Regal Rexnord from $180.00 to $125.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. The Goldman Sachs Group cut their price target on Regal Rexnord from $183.00 to $163.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Citigroup boosted their price objective on Regal Rexnord from $110.00 to $145.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Barclays increased their target price on Regal Rexnord from $155.00 to $160.00 and gave the stock an "overweight" rating in a research report on Monday, May 12th. Finally, Robert W. Baird raised their target price on Regal Rexnord from $167.00 to $172.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $171.25.

Insider Activity

In other news, CEO Louis V. Pinkham sold 10,593 shares of the business's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $140.33, for a total value 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. The trade was a 5.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.82% of the company's stock.

Regal Rexnord Stock Performance

RRX stock traded down $0.65 during trading on Tuesday, reaching $140.65. 641,922 shares of the company's stock were exchanged, compared to its average volume of 571,844. Regal Rexnord Co. has a 1-year low of $90.56 and a 1-year high of $185.28. The firm has a market cap of $9.33 billion, a PE ratio of 47.68, a P/E/G ratio of 1.37 and a beta of 1.11. The company's fifty day moving average price is $115.00 and its 200-day moving average price is $141.08. The company has a quick ratio of 1.25, a current ratio of 2.26 and a debt-to-equity ratio of 0.87.

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

Regal Rexnord Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 14th. Stockholders of record on Monday, June 30th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend is Monday, June 30th. Regal Rexnord's dividend payout ratio is currently 39.89%.

Regal Rexnord Company 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.