International Assets Investment Management LLC Boosts Holdings in Regal Rexnord Co. (NYSE:RRX)

International Assets Investment Management LLC increased its holdings in Regal Rexnord Co. (NYSE:RRX) by 11,000.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 888 shares of the company’s stock after purchasing an additional 880 shares during the period. International Assets Investment Management LLC’s holdings in Regal Rexnord were worth $131,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. The Manufacturers Life Insurance Company grew its stake in shares of Regal Rexnord by 13.5% during the third quarter. The Manufacturers Life Insurance Company now owns 354,484 shares of the company’s stock valued at $50,649,000 after buying an additional 42,110 shares during the last quarter. O Shaughnessy Asset Management LLC grew its position in Regal Rexnord by 7.1% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 3,834 shares of the company’s stock worth $548,000 after acquiring an additional 253 shares during the last quarter. UBS Group AG increased its stake in Regal Rexnord by 58.8% in the 3rd quarter. UBS Group AG now owns 90,990 shares of the company’s stock worth $13,001,000 after purchasing an additional 33,689 shares during the period. Envestnet Portfolio Solutions Inc. bought a new stake in Regal Rexnord in the third quarter valued at approximately $491,000. Finally, Teachers Retirement System of The State of Kentucky boosted its stake in shares of Regal Rexnord by 4.4% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 88,045 shares of the company’s stock valued at $12,580,000 after purchasing an additional 3,687 shares during the period. Institutional investors own 99.72% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Thomas E. Valentyn sold 1,931 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $166.09, for a total transaction of $320,719.79. Following the sale, the executive vice president now owns 27,180 shares in the company, valued at approximately $4,514,326.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Regal Rexnord news, EVP Thomas E. Valentyn sold 647 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $169.70, for a total transaction of $109,795.90. Following the completion of the transaction, the executive vice president now owns 28,412 shares of the company’s stock, valued at $4,821,516.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Thomas E. Valentyn sold 1,931 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $166.09, for a total value of $320,719.79. Following the completion of the sale, the executive vice president now directly owns 27,180 shares in the company, valued at $4,514,326.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,570 shares of company stock worth $892,301. 0.82% of the stock is owned by corporate insiders.

Regal Rexnord Stock Up 1.3 %

Shares of NYSE RRX opened at $166.26 on Tuesday. The firm has a fifty day simple moving average of $170.03 and a two-hundred day simple moving average of $145.14. The firm has a market capitalization of $11.06 billion, a PE ratio of -191.10, a price-to-earnings-growth ratio of 1.63 and a beta of 1.14. The company has a current ratio of 2.55, a quick ratio of 1.59 and a debt-to-equity ratio of 1.00. Regal Rexnord Co. has a 12 month low of $97.18 and a 12 month high of $183.85.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings results on Wednesday, February 7th. The company reported $2.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.02. The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.63 billion. Regal Rexnord had a negative net margin of 0.92% and a positive return on equity of 9.58%. During the same period in the prior year, the firm earned $2.64 earnings per share. Regal Rexnord’s revenue was up 29.2% on a year-over-year basis. Equities analysts expect that Regal Rexnord Co. will post 10.05 earnings per share for the current year.

Regal Rexnord Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be paid a $0.35 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.40 annualized dividend and a yield of 0.84%. Regal Rexnord’s payout ratio is -160.92%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Barclays lifted their target price on shares of Regal Rexnord from $200.00 to $203.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Oppenheimer upped their price objective on shares of Regal Rexnord from $185.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, March 13th. Finally, KeyCorp raised their target price on Regal Rexnord from $180.00 to $210.00 and gave the stock an “overweight” rating in a research note on Monday, March 25th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $197.00.

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.