Regal Rexnord Co. (NYSE:RRX) Shares Sold by Leeward Investments LLC MA

Leeward Investments LLC MA cut its stake in Regal Rexnord Co. (NYSE:RRX) by 1.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 239,618 shares of the company’s stock after selling 4,750 shares during the quarter. Regal Rexnord comprises approximately 1.7% of Leeward Investments LLC MA’s investment portfolio, making the stock its 4th biggest position. Leeward Investments LLC MA’s holdings in Regal Rexnord were worth $35,468,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Global Retirement Partners LLC increased its position in shares of Regal Rexnord by 18.5% during the 3rd quarter. Global Retirement Partners LLC now owns 493 shares of the company’s stock worth $68,000 after purchasing an additional 77 shares during the last quarter. Xponance Inc. increased its position in shares of Regal Rexnord by 1.2% during the 4th quarter. Xponance Inc. now owns 8,003 shares of the company’s stock worth $1,185,000 after purchasing an additional 91 shares during the last quarter. Mariner LLC increased its position in shares of Regal Rexnord by 2.1% during the 3rd quarter. Mariner LLC now owns 5,525 shares of the company’s stock worth $789,000 after purchasing an additional 113 shares during the last quarter. Commonwealth Equity Services LLC increased its position in shares of Regal Rexnord by 3.7% during the 3rd quarter. Commonwealth Equity Services LLC now owns 3,277 shares of the company’s stock worth $468,000 after purchasing an additional 118 shares during the last quarter. Finally, IFP Advisors Inc increased its position in shares of Regal Rexnord by 12.8% during the 3rd quarter. IFP Advisors Inc now owns 1,297 shares of the company’s stock worth $185,000 after purchasing an additional 147 shares during the last quarter. 99.72% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on RRX. Barclays raised their target price on Regal Rexnord from $200.00 to $203.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. KeyCorp raised their target price on Regal Rexnord from $180.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, March 25th. Finally, Oppenheimer raised their target price on Regal Rexnord from $185.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, March 13th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Regal Rexnord presently has an average rating of “Moderate Buy” and a consensus price target of $197.00.

Insider Activity

In other news, EVP Thomas E. Valentyn sold 1,931 shares of Regal Rexnord stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $166.09, for a total value of $320,719.79. Following the completion of the transaction, the executive vice president now owns 27,180 shares in the company, valued at approximately $4,514,326.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Jerrald R. Morton sold 2,992 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $154.34, for a total transaction of $461,785.28. Following the completion of the sale, the executive vice president now owns 15,884 shares in the company, valued at $2,451,536.56. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Thomas E. Valentyn sold 1,931 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $166.09, for a total value of $320,719.79. Following the sale, the executive vice president now owns 27,180 shares of the company’s stock, valued at approximately $4,514,326.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,570 shares of company stock worth $892,301. 0.82% of the stock is currently owned by company insiders.

Regal Rexnord Stock Performance

Shares of Regal Rexnord stock opened at $164.11 on Friday. The business has a 50-day moving average of $169.93 and a 200 day moving average of $144.82. Regal Rexnord Co. has a 12 month low of $97.18 and a 12 month high of $183.85. The stock has a market capitalization of $10.91 billion, a price-to-earnings ratio of -188.63, a price-to-earnings-growth ratio of 1.61 and a beta of 1.14. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.55 and a quick ratio of 1.59.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.02. The business had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Regal Rexnord had a positive return on equity of 9.58% and a negative net margin of 0.92%. The business’s quarterly revenue was up 29.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.64 EPS. As a group, sell-side analysts forecast that Regal Rexnord Co. will post 10.05 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.85%. The ex-dividend date is Friday, June 28th. Regal Rexnord’s payout ratio is presently -160.92%.

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.