RBF Capital LLC Acquires Shares of 6,000 Regal Rexnord Corporation $RRX

RBF Capital LLC purchased a new stake in shares of Regal Rexnord Corporation (NYSE:RRX) in the 2nd quarter, Holdings Channel reports. The fund purchased 6,000 shares of the company’s stock, valued at approximately $870,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of RRX. Granite Investment Partners LLC purchased a new stake in shares of Regal Rexnord during the 2nd quarter worth $1,309,000. Prudential Financial Inc. lifted its position in shares of Regal Rexnord by 233.6% during the second quarter. Prudential Financial Inc. now owns 45,281 shares of the company’s stock valued at $6,564,000 after buying an additional 31,709 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Regal Rexnord by 2.8% in the 2nd quarter. Legal & General Group Plc now owns 112,789 shares of the company’s stock valued at $16,350,000 after buying an additional 3,096 shares in the last quarter. Stanley Capital Management LLC purchased a new position in shares of Regal Rexnord in the 2nd quarter worth approximately $19,367,000. Finally, Russell Investments Group Ltd. raised its stake in shares of Regal Rexnord by 76.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 233,383 shares of the company’s stock worth $33,831,000 after acquiring an additional 101,099 shares in the last quarter. Institutional investors own 99.72% of the company’s stock.

Insider Buying and Selling at Regal Rexnord

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on RRX shares. JPMorgan Chase & Co. lowered their target price on shares of Regal Rexnord from $200.00 to $190.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. Jefferies Financial Group cut Regal Rexnord to a “hold” rating and set a $160.00 price objective for the company. in a research report on Wednesday. Barclays reaffirmed an “overweight” rating and set a $165.00 target price on shares of Regal Rexnord in a research report on Monday, November 3rd. KeyCorp dropped their price target on Regal Rexnord from $180.00 to $170.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 14th. Finally, The Goldman Sachs Group lowered their target price on shares of Regal Rexnord from $192.00 to $170.00 and set a “buy” rating for the company in a research note on Tuesday, September 16th. Seven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Regal Rexnord currently has an average rating of “Moderate Buy” and an average price target of $177.75.

Regal Rexnord Trading Up 1.8%

Regal Rexnord stock opened at $148.68 on Wednesday. Regal Rexnord Corporation has a 52 week low of $90.56 and a 52 week high of $173.46. The stock has a 50-day moving average price of $141.57 and a 200 day moving average price of $144.07. The company has a quick ratio of 0.97, a current ratio of 2.05 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $9.87 billion, a price-to-earnings ratio of 38.42, a price-to-earnings-growth ratio of 1.52 and a beta of 1.11.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings results on Friday, September 8th. The company reported $2.76 earnings per share (EPS) for the quarter. The company had revenue of $1.85 billion during the quarter. Regal Rexnord had a net margin of 4.38% and a return on equity of 9.64%. Sell-side analysts anticipate that Regal Rexnord Corporation will post 9.95 EPS for the current year.

Regal Rexnord Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 14th. Shareholders of record on Wednesday, December 31st will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, December 31st. Regal Rexnord’s dividend payout ratio is presently 36.18%.

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.