64,333 Shares in Regal Rexnord Corporation $RRX Bought by GMT Capital Corp

GMT Capital Corp purchased a new position in Regal Rexnord Corporation (NYSE:RRX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 64,333 shares of the company’s stock, valued at approximately $9,027,000. Regal Rexnord accounts for 0.5% of GMT Capital Corp’s investment portfolio, making the stock its 21st largest position.

A number of other hedge funds also recently modified their holdings of the stock. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of Regal Rexnord in the fourth quarter worth $98,000. Dockside LLC bought a new position in shares of Regal Rexnord in the fourth quarter worth $698,000. Entropy Technologies LP bought a new position in shares of Regal Rexnord in the fourth quarter worth $407,000. Kestra Advisory Services LLC bought a new position in shares of Regal Rexnord in the fourth quarter worth $1,879,000. Finally, Marshall Wace LLP increased its position in shares of Regal Rexnord by 2.2% in the fourth quarter. Marshall Wace LLP now owns 220,596 shares of the company’s stock worth $30,954,000 after purchasing an additional 4,768 shares during the period. Institutional investors own 99.72% of the company’s stock.

Regal Rexnord Stock Performance

Shares of RRX stock opened at $212.51 on Friday. The business’s 50-day moving average price is $205.28 and its 200-day moving average price is $184.40. Regal Rexnord Corporation has a 12 month low of $127.96 and a 12 month high of $236.35. The firm has a market capitalization of $14.15 billion, a price-to-earnings ratio of 49.42, a PEG ratio of 2.00 and a beta of 1.11. The company has a current ratio of 2.17, a quick ratio of 1.08 and a debt-to-equity ratio of 0.69.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings data on Thursday, May 7th. The company reported $2.17 EPS for the quarter, topping analysts’ consensus estimates of $2.11 by $0.06. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.43 billion. Regal Rexnord had a return on equity of 9.49% and a net margin of 4.78%.The firm’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.15 earnings per share. Equities research analysts forecast that Regal Rexnord Corporation will post 10.63 EPS for the current year.

Regal Rexnord Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 30th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, June 30th. Regal Rexnord’s payout ratio is currently 32.56%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Citigroup raised their price target on Regal Rexnord from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Monday, April 13th. Weiss Ratings restated a “hold (c)” rating on shares of Regal Rexnord in a research report on Tuesday, April 21st. JPMorgan Chase & Co. raised their price target on Regal Rexnord from $230.00 to $240.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Barclays lifted their target price on Regal Rexnord from $237.00 to $245.00 and gave the company an “overweight” rating in a research report on Monday, March 23rd. Finally, Wall Street Zen cut Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, April 28th. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $232.25.

Insider Buying and Selling

In related news, CFO Robert Rehard sold 6,499 shares of Regal Rexnord stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $200.00, for a total value of $1,299,800.00. Following the transaction, the chief financial officer directly owned 27,965 shares of the company’s stock, valued at $5,593,000. The trade was a 18.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robin A. Walker-Lee sold 1,297 shares of Regal Rexnord stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $213.85, for a total value of $277,363.45. Following the completion of the transaction, the director directly owned 5,503 shares in the company, valued at approximately $1,176,816.55. This represents a 19.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 30,305 shares of company stock valued at $6,341,869 over the last ninety days. 0.63% of the stock is owned by company insiders.

Regal Rexnord Profile

Regal Rexnord Corporation (NYSE: RRX) is a global industrial manufacturer specializing in electric motors, power generation equipment and automated motion control systems. The company designs, engineers and produces a broad portfolio of products that includes energy-efficient electric motors, variable frequency drives, gearboxes, couplings, bearings and power transmission components. These offerings support critical applications in industries such as heating, ventilation and air conditioning (HVAC), refrigeration, data centers, water treatment, food and beverage processing, mining, oil and gas, and material handling.

The company’s operations are organized into multiple business segments that address distinct customer needs.