Regal Rexnord Co. (NYSE:RRX) Holdings Lessened by Leeward Investments LLC MA

Leeward Investments LLC MA decreased its holdings in Regal Rexnord Co. (NYSE:RRX) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 239,618 shares of the company’s stock after selling 4,750 shares during the quarter. Regal Rexnord accounts for about 1.7% of Leeward Investments LLC MA’s investment portfolio, making the stock its 4th largest position. Leeward Investments LLC MA owned approximately 0.36% of Regal Rexnord worth $35,468,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in RRX. Cary Street Partners Investment Advisory LLC boosted its holdings in shares of Regal Rexnord by 652.2% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 173 shares of the company’s stock worth $25,000 after buying an additional 150 shares during the last quarter. GAMMA Investing LLC purchased a new position in shares of Regal Rexnord in the fourth quarter worth approximately $58,000. Global Retirement Partners LLC boosted its holdings in shares of Regal Rexnord by 18.5% in the third quarter. Global Retirement Partners LLC now owns 493 shares of the company’s stock worth $68,000 after buying an additional 77 shares during the last quarter. CWM LLC boosted its holdings in shares of Regal Rexnord by 48.5% in the fourth quarter. CWM LLC now owns 738 shares of the company’s stock worth $109,000 after buying an additional 241 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in shares of Regal Rexnord by 11,000.0% in the fourth quarter. International Assets Investment Management LLC now owns 888 shares of the company’s stock worth $131,000 after buying an additional 880 shares during the last quarter. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Insider Activity

In other news, EVP Jerrald R. Morton sold 2,992 shares of Regal Rexnord stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $154.34, for a total transaction of $461,785.28. Following the sale, the executive vice president now owns 15,884 shares in the company, valued at $2,451,536.56. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, EVP Jerrald R. Morton sold 2,992 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $154.34, for a total value of $461,785.28. Following the sale, the executive vice president now owns 15,884 shares in the company, valued at $2,451,536.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Thomas E. Valentyn sold 647 shares of the business’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 sale, the executive vice president now owns 28,412 shares in the company, valued at approximately $4,821,516.40. The disclosure for this sale can be found here. Insiders have sold a total of 5,570 shares of company stock worth $892,301 over the last quarter. Insiders own 0.82% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Barclays raised their price objective on shares of Regal Rexnord from $200.00 to $203.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Oppenheimer raised 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. Finally, KeyCorp raised their target price on shares of Regal Rexnord from $180.00 to $210.00 and gave the stock an “overweight” rating in a research note on Monday, March 25th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $197.00.

Regal Rexnord Trading Up 1.3 %

Regal Rexnord stock opened at $164.11 on Friday. The stock has a market cap of $10.91 billion, a P/E ratio of -188.63, a PEG ratio of 1.61 and a beta of 1.14. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.55 and a quick ratio of 1.59. Regal Rexnord Co. has a 1 year low of $97.18 and a 1 year high of $183.85. The firm’s 50 day moving average price is $169.93 and its 200-day moving average price is $144.82.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings data on Wednesday, February 7th. The company reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.02. The firm had revenue of $1.61 billion for the quarter, compared to analysts’ expectations 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 quarter last year, the business posted $2.64 earnings per share. On average, equities analysts predict that Regal Rexnord Co. will post 10.05 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Stockholders 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 dividend yield of 0.85%. The ex-dividend date of this dividend is Friday, June 28th. Regal Rexnord’s payout ratio is currently -160.92%.

About Regal Rexnord

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.