Quantinno Capital Management LP Buys 6,419 Shares of Regal Rexnord Corporation $RRX

Quantinno Capital Management LP lifted its stake in shares of Regal Rexnord Corporation (NYSE:RRX) by 10.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 65,242 shares of the company’s stock after acquiring an additional 6,419 shares during the period. Quantinno Capital Management LP owned approximately 0.10% of Regal Rexnord worth $12,217,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Victory Capital Management Inc. boosted its position in Regal Rexnord by 42.6% during the fourth quarter. Victory Capital Management Inc. now owns 5,658,365 shares of the company’s stock valued at $793,983,000 after buying an additional 1,690,264 shares during the period. Viking Global Investors LP lifted its position in shares of Regal Rexnord by 25.7% in the 2nd quarter. Viking Global Investors LP now owns 3,430,128 shares of the company’s stock worth $497,231,000 after purchasing an additional 701,145 shares during the period. Dimensional Fund Advisors LP boosted its position in Regal Rexnord by 5.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,530,092 shares of the company’s stock valued at $355,031,000 after acquiring an additional 131,171 shares in the last quarter. Invesco Ltd. boosted its position in shares of Regal Rexnord by 27.1% during the fourth quarter. Invesco Ltd. now owns 1,905,828 shares of the company’s stock valued at $267,426,000 after purchasing an additional 405,828 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Regal Rexnord by 115.5% during the 1st quarter. Bank of New York Mellon Corp now owns 1,836,264 shares of the company’s stock valued at $343,859,000 after buying an additional 984,185 shares in the last quarter. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Insider Activity

In other Regal Rexnord news, CFO Robert Rehard sold 6,499 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $200.00, for a total value of $1,299,800.00. Following the completion of the sale, the chief financial officer owned 27,965 shares in the company, valued at approximately $5,593,000. The trade was a 18.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Louis V. Pinkham sold 22,509 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $211.68, for a total value of $4,764,705.12. Following the sale, the chief executive officer directly owned 56,749 shares of the company’s stock, valued at $12,012,628.32. The trade was a 28.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 30,305 shares of company stock valued at $6,341,869. Company insiders own 0.63% of the company’s stock.

Regal Rexnord Stock Up 2.8%

Regal Rexnord stock opened at $211.05 on Tuesday. The business has a fifty day moving average of $213.38 and a two-hundred day moving average of $202.17. The company has a quick ratio of 1.08, a current ratio of 2.17 and a debt-to-equity ratio of 0.69. Regal Rexnord Corporation has a twelve month low of $127.96 and a twelve month high of $247.80. The firm has a market cap of $14.05 billion, a P/E ratio of 49.08, a P/E/G ratio of 1.36 and a beta of 1.09.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings data on Thursday, May 7th. The company reported $2.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.11 by $0.06. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.43 billion. Regal Rexnord had a net margin of 4.78% and a return on equity of 9.49%. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.15 earnings per share. On average, analysts forecast that Regal Rexnord Corporation will post 10.65 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 14th. Shareholders of record on Wednesday, September 30th will be given a $0.35 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $1.40 dividend on an annualized basis and a yield of 0.7%. Regal Rexnord’s payout ratio is currently 32.56%.

Analyst Ratings Changes

Several research firms have commented on RRX. UBS Group set a $260.00 target price on Regal Rexnord in a report on Monday, June 15th. JPMorgan Chase & Co. raised their target price on shares of Regal Rexnord from $230.00 to $240.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Citigroup boosted their price target on Regal Rexnord from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. DA Davidson started coverage on shares of Regal Rexnord in a research report on Tuesday, June 16th. They set a “buy” rating and a $260.00 price objective for the company. Finally, Wall Street Zen lowered shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 18th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $247.00.

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.