Regal Rexnord Co. (NYSE:RRX) Shares Bought by Yousif Capital Management LLC

Yousif Capital Management LLC grew its stake in shares of Regal Rexnord Co. (NYSE:RRX) by 0.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 31,743 shares of the company’s stock after acquiring an additional 77 shares during the period. Yousif Capital Management LLC’s holdings in Regal Rexnord were worth $4,699,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC raised its stake in Regal Rexnord by 80.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 509,265 shares of the company’s stock valued at $75,382,000 after purchasing an additional 226,435 shares during the period. WCM Investment Management LLC raised its stake in Regal Rexnord by 56.8% during the 4th quarter. WCM Investment Management LLC now owns 144,139 shares of the company’s stock valued at $21,549,000 after purchasing an additional 52,214 shares during the period. The Manufacturers Life Insurance Company raised its stake in Regal Rexnord by 13.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 354,484 shares of the company’s stock valued at $50,649,000 after purchasing an additional 42,110 shares during the period. O Shaughnessy Asset Management LLC raised its stake 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 valued at $548,000 after purchasing an additional 253 shares during the period. Finally, UBS Group AG raised its stake in Regal Rexnord by 58.8% during the 3rd quarter. UBS Group AG now owns 90,990 shares of the company’s stock valued at $13,001,000 after purchasing an additional 33,689 shares during the period. Institutional investors and hedge funds own 99.72% of the company’s stock.

Regal Rexnord Trading Up 1.3 %

NYSE RRX opened at $164.11 on Friday. Regal Rexnord Co. has a 1-year low of $97.18 and a 1-year high of $183.85. The company has a current ratio of 2.55, a quick ratio of 1.59 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $10.91 billion, a PE ratio of -188.63, a price-to-earnings-growth ratio of 1.61 and a beta of 1.14. The firm’s fifty day simple moving average is $169.93 and its 200-day simple moving average is $144.82.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings data 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 firm had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Regal Rexnord had a negative net margin of 0.92% and a positive return on equity of 9.58%. Regal Rexnord’s revenue for the quarter was up 29.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.64 earnings per share. As a group, sell-side analysts anticipate that Regal Rexnord Co. will post 10.05 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date is Friday, June 28th. Regal Rexnord’s dividend payout ratio is presently -160.92%.

Insider Buying and Selling

In related news, EVP Thomas E. Valentyn sold 647 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $169.70, for a total value of $109,795.90. Following the completion of the sale, the executive vice president now directly owns 28,412 shares in the company, valued at $4,821,516.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Regal Rexnord news, EVP Thomas E. Valentyn sold 1,931 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $166.09, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Thomas E. Valentyn sold 647 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $169.70, for a total transaction of $109,795.90. Following the sale, the executive vice president now owns 28,412 shares of the company’s stock, valued at $4,821,516.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,570 shares of company stock worth $892,301. Corporate insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on RRX shares. KeyCorp boosted their target price on shares of Regal Rexnord from $180.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, March 25th. Barclays upped their price target 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. Finally, Oppenheimer upped their price target on shares of Regal Rexnord from $185.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 13th. 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 company has a consensus rating of “Moderate Buy” and an average target price of $197.00.

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.