Y Intercept Hong Kong Ltd Acquires New Position in Regal Rexnord Corporation $RRX

Y Intercept Hong Kong Ltd acquired a new stake in shares of Regal Rexnord Corporation (NYSE:RRX) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 12,212 shares of the company’s stock, valued at approximately $1,752,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of Regal Rexnord in the third quarter worth about $1,067,000. Parkside Financial Bank & Trust boosted its holdings in Regal Rexnord by 124.1% in the 3rd quarter. Parkside Financial Bank & Trust now owns 316 shares of the company’s stock worth $45,000 after buying an additional 175 shares during the period. Hudson Edge Investment Partners Inc. grew its stake in Regal Rexnord by 21.4% in the 3rd quarter. Hudson Edge Investment Partners Inc. now owns 8,060 shares of the company’s stock valued at $1,156,000 after buying an additional 1,420 shares in the last quarter. Bruce G. Allen Investments LLC grew its stake in Regal Rexnord by 4,471.4% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 320 shares of the company’s stock valued at $46,000 after buying an additional 313 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in Regal Rexnord by 53.2% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 22,379 shares of the company’s stock valued at $3,210,000 after acquiring an additional 7,773 shares during the period. Institutional investors own 99.72% of the company’s stock.

Insider Transactions at Regal Rexnord

In related news, CEO Louis V. Pinkham sold 35,935 shares of the stock in a transaction on 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 transaction, the chief executive officer owned 103,262 shares of the company’s stock, valued at $15,096,904.40. This represents a 25.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.82% of the company’s stock.

Regal Rexnord Stock Up 3.4%

Shares of NYSE RRX opened at $162.03 on Friday. The company has a current ratio of 2.05, a quick ratio of 0.97 and a debt-to-equity ratio of 0.71. The business has a 50-day moving average of $148.70 and a 200-day moving average of $145.98. The firm has a market capitalization of $10.76 billion, a price-to-earnings ratio of 41.87, a PEG ratio of 1.45 and a beta of 1.12. Regal Rexnord Corporation has a 12 month low of $90.56 and a 12 month high of $165.40.

Regal Rexnord (NYSE:RRX) last announced its earnings results on Thursday, October 30th. The company reported $2.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.56 by ($0.05). The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.49 billion. Regal Rexnord had a net margin of 4.38% and a return on equity of 9.64%. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.49 earnings per share. Sell-side analysts expect that Regal Rexnord Corporation will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Investors of record on Tuesday, March 31st will be given a $0.35 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $1.40 annualized dividend and a yield of 0.9%. Regal Rexnord’s payout ratio is 36.18%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on RRX. Robert W. Baird set a $212.00 price target on Regal Rexnord in a report on Friday, October 31st. Citigroup raised their target price on Regal Rexnord from $175.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Regal Rexnord in a research report on Thursday, January 22nd. Zacks Research upgraded shares of Regal Rexnord from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 30th. Finally, KeyCorp upped their target price on shares of Regal Rexnord from $170.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Regal Rexnord presently has a consensus rating of “Moderate Buy” and a consensus target price of $180.25.

About Regal Rexnord

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.