GAMMA Investing LLC Grows Position in Regal Rexnord Co. (NYSE:RRX)

GAMMA Investing LLC increased its stake in shares of Regal Rexnord Co. (NYSE:RRX) by 28.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,079 shares of the company’s stock after acquiring an additional 238 shares during the quarter. GAMMA Investing LLC’s holdings in Regal Rexnord were worth $167,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of RRX. Point72 Asset Management L.P. purchased a new position in shares of Regal Rexnord during the third quarter valued at about $83,460,000. Westfield Capital Management Co. LP boosted its stake in Regal Rexnord by 68.9% during the third quarter. Westfield Capital Management Co. LP now owns 979,521 shares of the company’s stock valued at $162,483,000 after buying an additional 399,649 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Regal Rexnord by 24.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,125,445 shares of the company’s stock valued at $152,183,000 after buying an additional 222,775 shares in the last quarter. Diamond Hill Capital Management Inc. increased its stake in Regal Rexnord by 7.1% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 3,181,886 shares of the company’s stock worth $430,255,000 after acquiring an additional 209,776 shares during the last quarter. Finally, Forest Avenue Capital Management LP raised its holdings in shares of Regal Rexnord by 63.8% during the 2nd quarter. Forest Avenue Capital Management LP now owns 262,910 shares of the company’s stock worth $35,551,000 after acquiring an additional 102,412 shares in the last quarter. 99.72% of the stock is owned by hedge funds and other institutional investors.

Regal Rexnord Trading Down 0.7 %

RRX opened at $155.07 on Thursday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.35 and a current ratio of 2.45. The stock’s 50 day moving average price is $167.21 and its 200-day moving average price is $160.59. Regal Rexnord Co. has a one year low of $130.94 and a one year high of $185.28. The stock has a market cap of $10.27 billion, a price-to-earnings ratio of 48.92, a P/E/G ratio of 1.83 and a beta of 1.04.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings data on Monday, November 4th. The company reported $2.49 EPS for the quarter, beating the consensus estimate of $2.48 by $0.01. Regal Rexnord had a return on equity of 9.48% and a net margin of 3.41%. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the prior year, the company posted $2.10 EPS. Regal Rexnord’s quarterly revenue was down 10.4% on a year-over-year basis. On average, equities analysts forecast that Regal Rexnord Co. will post 9.24 EPS for the current year.

Regal Rexnord Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st will be given a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.40 annualized dividend and a yield of 0.90%. Regal Rexnord’s dividend payout ratio (DPR) is 44.16%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Robert W. Baird reduced their price target on shares of Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. The Goldman Sachs Group boosted their target price on shares of Regal Rexnord from $191.00 to $213.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Jefferies Financial Group assumed coverage on shares of Regal Rexnord in a report on Thursday, December 12th. They issued a “buy” rating and a $215.00 price target for the company. Barclays reduced their price objective on Regal Rexnord from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, Citigroup started coverage on Regal Rexnord in a research note on Monday, October 14th. They issued a “buy” rating and a $200.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Regal Rexnord currently has an average rating of “Buy” and a consensus price target of $203.25.

Insiders Place Their Bets

In other Regal Rexnord news, CEO Louis V. Pinkham sold 8,774 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $180.03, for a total value of $1,579,583.22. Following the completion of the sale, the chief executive officer now directly owns 149,618 shares in the company, valued at approximately $26,935,728.54. This represents a 5.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.82% of the company’s stock.

Regal Rexnord 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.