Mediolanum International Funds Ltd Takes $7.69 Million Position in Regal Rexnord Corporation $RRX

Mediolanum International Funds Ltd acquired a new stake in shares of Regal Rexnord Corporation (NYSE:RRX) in the third quarter, Holdings Channel reports. The firm acquired 53,230 shares of the company’s stock, valued at approximately $7,685,000.

Other hedge funds have also added to or reduced their stakes in the company. AQR Capital Management LLC increased its position in shares of Regal Rexnord by 208.1% during the first quarter. AQR Capital Management LLC now owns 17,747 shares of the company’s stock worth $2,011,000 after acquiring an additional 11,987 shares during the period. Jones Financial Companies Lllp raised its stake in shares of Regal Rexnord by 91.6% during the 1st quarter. Jones Financial Companies Lllp now owns 617 shares of the company’s stock worth $70,000 after acquiring an additional 295 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of Regal Rexnord by 135.1% during the first quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock valued at $25,000 after acquiring an additional 127 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in Regal Rexnord by 7.0% during the 2nd quarter. Janney Montgomery Scott LLC now owns 4,406 shares of the company’s stock valued at $639,000 after purchasing an additional 287 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in shares of Regal Rexnord by 67.1% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 83,626 shares of the company’s stock valued at $12,122,000 after acquiring an additional 33,581 shares during the last quarter. 99.72% of the stock is currently owned by institutional investors.

Insider Transactions at Regal Rexnord

In related news, CEO Louis V. Pinkham sold 35,935 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $146.20, for a total transaction of $5,253,697.00. Following the completion of the transaction, the chief executive officer directly owned 103,262 shares in the company, valued at $15,096,904.40. This trade represents a 25.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on RRX shares. Zacks Research upgraded shares of Regal Rexnord from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 30th. KeyCorp increased their price objective on Regal Rexnord from $170.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, January 26th. JPMorgan Chase & Co. dropped their target price on shares of Regal Rexnord from $200.00 to $190.00 and set an “overweight” rating for the company in a report on Friday, October 31st. Barclays reissued an “overweight” rating and issued a $165.00 price target on shares of Regal Rexnord in a research note on Monday, November 3rd. Finally, Robert W. Baird set a $212.00 target price on Regal Rexnord in a report on Friday, October 31st. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $180.25.

Regal Rexnord Stock Up 5.2%

Shares of NYSE RRX opened at $169.90 on Tuesday. The firm has a market cap of $11.28 billion, a price-to-earnings ratio of 43.90, a PEG ratio of 1.50 and a beta of 1.12. The company has a quick ratio of 0.97, a current ratio of 2.05 and a debt-to-equity ratio of 0.71. Regal Rexnord Corporation has a 52-week low of $90.56 and a 52-week high of $170.78. The business’s 50 day moving average is $149.72 and its two-hundred day moving average is $146.21.

Regal Rexnord Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 14th. Investors of record on Tuesday, March 31st will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Tuesday, March 31st. Regal Rexnord’s payout ratio is currently 36.18%.

Regal Rexnord Company 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.