Stanley Capital Management LLC Acquires Shares of 133,600 Regal Rexnord Corporation $RRX

Stanley Capital Management LLC bought a new position in shares of Regal Rexnord Corporation (NYSE:RRX) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 133,600 shares of the company’s stock, valued at approximately $19,367,000. Regal Rexnord comprises about 3.3% of Stanley Capital Management LLC’s portfolio, making the stock its 11th largest holding. Stanley Capital Management LLC owned 0.20% of Regal Rexnord at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Regal Rexnord in the 2nd quarter worth $256,155,000. Dimensional Fund Advisors LP boosted its stake in shares of Regal Rexnord by 30.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,712,297 shares of the company’s stock worth $194,955,000 after acquiring an additional 396,737 shares in the last quarter. Nordea Investment Management AB acquired a new stake in shares of Regal Rexnord in the 2nd quarter worth approximately $224,889,000. The Manufacturers Life Insurance Company grew its holdings in shares of Regal Rexnord by 6.1% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,200,555 shares of the company’s stock worth $136,683,000 after acquiring an additional 69,438 shares during the period. Finally, Nuveen LLC acquired a new position in Regal Rexnord during the first quarter worth $117,996,000. 99.72% of the stock is owned by institutional investors and hedge funds.

Regal Rexnord Stock Performance

NYSE:RRX opened at $143.37 on Wednesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.00 and a quick ratio of 0.93. The firm has a market cap of $9.52 billion, a PE ratio of 37.05, a P/E/G ratio of 1.52 and a beta of 1.19. The firm has a 50 day simple moving average of $141.50 and a 200-day simple moving average of $143.85. Regal Rexnord Corporation has a 1-year low of $90.56 and a 1-year high of $177.48.

Regal Rexnord (NYSE:RRX) last released its earnings results on Friday, September 8th. The company reported $2.76 EPS for the quarter. The firm had revenue of $1.85 billion during the quarter. Regal Rexnord had a net margin of 4.38% and a return on equity of 9.75%. On average, equities analysts expect that Regal Rexnord Corporation will post 9.95 EPS for the current year.

Regal Rexnord Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 14th. Investors of record on Wednesday, December 31st will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Wednesday, December 31st. Regal Rexnord’s payout ratio is presently 36.18%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. JPMorgan Chase & Co. lowered their target price on Regal Rexnord from $200.00 to $190.00 and set an “overweight” rating on the stock in a report on Friday, October 31st. KeyCorp decreased their price objective on shares of Regal Rexnord from $180.00 to $170.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 14th. Wall Street Zen downgraded shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a report on Sunday, September 21st. The Goldman Sachs Group cut their target price on shares of Regal Rexnord from $192.00 to $170.00 and set a “buy” rating for the company in a research report on Tuesday, September 16th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Regal Rexnord in a research report on Wednesday, October 8th. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Regal Rexnord currently has a consensus rating of “Moderate Buy” and a consensus price target of $184.63.

Insider Buying and Selling

In other Regal Rexnord news, CEO Louis V. Pinkham sold 35,935 shares of the stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $146.20, for a total transaction of $5,253,697.00. Following the transaction, the chief executive officer owned 103,262 shares of the company’s stock, valued at $15,096,904.40. This trade represents a 25.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.82% of the company’s stock.

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.