Quantinno Capital Management LP Has $1.43 Million Stake in Regal Rexnord Co. (NYSE:RRX)

Quantinno Capital Management LP boosted its stake in Regal Rexnord Co. (NYSE:RRX) by 77.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,240 shares of the company’s stock after buying an additional 4,024 shares during the quarter. Quantinno Capital Management LP’s holdings in Regal Rexnord were worth $1,433,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Nomura Holdings Inc. acquired a new stake in Regal Rexnord in the 4th quarter valued at $1,363,000. Nuveen Asset Management LLC grew its holdings in shares of Regal Rexnord by 79.8% during the fourth quarter. Nuveen Asset Management LLC now owns 899,688 shares of the company’s stock worth $139,569,000 after purchasing an additional 399,267 shares during the last quarter. Occudo Quantitative Strategies LP acquired a new stake in shares of Regal Rexnord in the fourth quarter valued at $550,000. Millennium Management LLC increased its stake in shares of Regal Rexnord by 313.6% in the fourth quarter. Millennium Management LLC now owns 241,712 shares of the company’s stock valued at $37,497,000 after buying an additional 183,272 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Regal Rexnord by 5.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 456,541 shares of the company’s stock valued at $70,823,000 after buying an additional 24,794 shares during the last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.

Regal Rexnord Trading Up 0.1%

Shares of RRX opened at $134.85 on Friday. 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 Co. has a 12-month low of $90.56 and a 12-month high of $185.28. The firm has a market capitalization of $8.95 billion, a PE ratio of 45.71, a price-to-earnings-growth ratio of 1.37 and a beta of 1.11. The stock’s fifty day simple moving average is $115.70 and its 200-day simple moving average is $140.80.

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

Regal Rexnord Dividend Announcement

The company 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 dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend is Monday, June 30th. Regal Rexnord’s dividend payout ratio (DPR) is presently 39.89%.

Analyst Upgrades and Downgrades

RRX has been the topic of a number of research analyst reports. Barclays increased their price objective on shares of Regal Rexnord from $155.00 to $160.00 and gave the stock an “overweight” rating in a report on Monday, May 12th. Oppenheimer decreased 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 note on Friday, February 7th. KeyCorp lowered their price target on shares of Regal Rexnord from $180.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Wall Street Zen raised Regal Rexnord from a “buy” rating to a “strong-buy” rating in a report on Thursday. Finally, Citigroup increased 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. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $171.25.

Insider Buying and Selling at Regal Rexnord

In other news, CEO Louis V. Pinkham sold 10,593 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 175,954 shares of the company’s stock, valued at $24,691,624.82. This represents a 5.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.82% of the company’s stock.

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.