Mitsubishi UFJ Trust & Banking Corp Purchases New Stake in Regal Rexnord Corporation $RRX

Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of Regal Rexnord Corporation (NYSE:RRX) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 7,442 shares of the company’s stock, valued at approximately $1,067,000.

Other hedge funds also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust increased its position in shares of 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 purchasing an additional 175 shares during the last quarter. Hudson Edge Investment Partners Inc. increased its holdings in Regal Rexnord by 21.4% in the third 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 during the last quarter. Bruce G. Allen Investments LLC increased its holdings in Regal Rexnord by 4,471.4% in the third 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 during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its stake in Regal Rexnord by 53.2% during the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 22,379 shares of the company’s stock valued at $3,210,000 after buying an additional 7,773 shares in the last quarter. Finally, Inscription Capital LLC bought a new position in Regal Rexnord during the 3rd quarter worth approximately $370,000. 99.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on RRX shares. Barclays reiterated an “overweight” rating and issued a $165.00 price target on shares of Regal Rexnord in a report on Monday, November 3rd. Zacks Research raised shares of Regal Rexnord from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 30th. Weiss Ratings restated a “hold (c)” rating on shares of Regal Rexnord in a research report on Thursday, January 22nd. KeyCorp boosted their price objective on shares of Regal Rexnord from $170.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, January 26th. Finally, Citigroup raised their target price on shares of Regal Rexnord from $175.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $180.25.

Regal Rexnord Stock Down 0.4%

Regal Rexnord stock opened at $161.46 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.97 and a current ratio of 2.05. Regal Rexnord Corporation has a one year low of $90.56 and a one year high of $163.38. The company has a 50-day simple moving average of $149.17 and a 200-day simple moving average of $146.09. The firm has a market capitalization of $10.72 billion, a P/E ratio of 41.72, a P/E/G ratio of 1.50 and a beta of 1.12.

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

Regal Rexnord Announces Dividend

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

Insider Transactions at Regal Rexnord

In related news, CEO Louis V. Pinkham sold 35,935 shares of the firm’s stock in a transaction that occurred 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 sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.82% of the stock is owned by company insiders.

Regal Rexnord 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.