18,702 Shares in Regal Rexnord Corporation $RRX Purchased by Night Squared LP

Night Squared LP bought a new stake in Regal Rexnord Corporation (NYSE:RRX) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 18,702 shares of the company’s stock, valued at approximately $2,683,000.

Other large investors have also recently bought and sold shares of the company. Comerica Bank raised its position in shares of Regal Rexnord by 11.2% during the 3rd quarter. Comerica Bank now owns 253,088 shares of the company’s stock worth $36,303,000 after buying an additional 25,440 shares in the last quarter. FORA Capital LLC bought a new position in shares of Regal Rexnord in the third quarter valued at approximately $284,000. Boston Partners acquired a new position in shares of Regal Rexnord during the third quarter valued at approximately $21,411,000. Marshall Wace LLP increased its stake in shares of Regal Rexnord by 36.7% during the third quarter. Marshall Wace LLP now owns 215,828 shares of the company’s stock valued at $30,958,000 after acquiring an additional 57,965 shares during the period. Finally, Kennedy Capital Management LLC raised its holdings in Regal Rexnord by 32.2% during the third quarter. Kennedy Capital Management LLC now owns 106,641 shares of the company’s stock worth $15,297,000 after purchasing an additional 25,973 shares in the last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.

Insider Buying and Selling

In related news, CEO Louis V. Pinkham sold 36,728 shares of Regal Rexnord stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $215.52, for a total value of $7,915,618.56. Following the transaction, the chief executive officer owned 83,337 shares of the company’s stock, valued at approximately $17,960,790.24. This trade represents a 30.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Robert Rehard sold 968 shares of Regal Rexnord stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $223.00, for a total value of $215,864.00. Following the completion of the transaction, the chief financial officer directly owned 34,447 shares in the company, valued at $7,681,681. This represents a 2.73% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 53,451 shares of company stock valued at $11,386,689. 0.82% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on RRX shares. Zacks Research upgraded Regal Rexnord from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 30th. Citigroup lifted their price target on Regal Rexnord from $180.00 to $230.00 and gave the company a “buy” rating in a research report on Monday, February 9th. Jefferies Financial Group lowered Regal Rexnord from a “buy” rating to a “hold” rating and cut their price objective for the company from $170.00 to $160.00 in a report on Wednesday, December 10th. Robert W. Baird set a $253.00 target price on Regal Rexnord in a research note on Friday, February 6th. Finally, The Goldman Sachs Group lifted their target price on Regal Rexnord from $170.00 to $230.00 and gave the stock a “buy” rating in a report on Monday, February 9th. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $227.50.

Regal Rexnord Trading Down 0.6%

Shares of NYSE:RRX opened at $186.47 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.10 and a current ratio of 2.15. The stock has a market capitalization of $12.40 billion, a price-to-earnings ratio of 44.40, a PEG ratio of 1.74 and a beta of 1.05. Regal Rexnord Corporation has a 1-year low of $90.56 and a 1-year high of $229.30. The company has a 50 day moving average price of $186.85 and a 200 day moving average price of $158.26.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings results on Thursday, February 5th. The company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.04. Regal Rexnord had a return on equity of 9.60% and a net margin of 4.71%.The company had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter in the prior year, the company earned $2.34 earnings per share. The firm’s revenue was up 4.3% on a year-over-year basis. On average, research analysts anticipate that Regal Rexnord Corporation will post 9.95 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The business also recently announced 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 of this dividend is Tuesday, March 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.8%. Regal Rexnord’s payout ratio is 33.33%.

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.