Y.D. More Investments Ltd Cuts Holdings in Regal Rexnord Co. (NYSE:RRX)

Y.D. More Investments Ltd lessened its stake in Regal Rexnord Co. (NYSE:RRX) by 28.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,100 shares of the company’s stock after selling 850 shares during the period. Y.D. More Investments Ltd’s holdings in Regal Rexnord were worth $311,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the business. FMR LLC boosted its position in Regal Rexnord by 2.1% during the 3rd quarter. FMR LLC now owns 8,978,384 shares of the company’s stock valued at $1,282,831,000 after buying an additional 181,889 shares during the period. Bank of New York Mellon Corp boosted its position in Regal Rexnord by 2.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 657,959 shares of the company’s stock valued at $94,009,000 after buying an additional 17,810 shares during the period. Third Point LLC purchased a new stake in Regal Rexnord during the 3rd quarter valued at $92,872,000. Invesco Ltd. boosted its position in Regal Rexnord by 37.4% during the 3rd quarter. Invesco Ltd. now owns 521,492 shares of the company’s stock valued at $74,511,000 after buying an additional 141,939 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position in Regal Rexnord by 80.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 509,265 shares of the company’s stock valued at $75,382,000 after buying an additional 226,435 shares during the period. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Insider Buying and Selling at Regal Rexnord

In other Regal Rexnord news, EVP Jerrald R. Morton sold 2,992 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were 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 directly owns 15,884 shares in the company, valued at approximately $2,451,536.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP Thomas E. Valentyn sold 647 shares of Regal Rexnord stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $169.70, for a total value of $109,795.90. Following the completion of the sale, the executive vice president now directly owns 28,412 shares in the company, valued at $4,821,516.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jerrald R. Morton sold 2,992 shares of Regal Rexnord 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 of the company’s stock, valued at $2,451,536.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,570 shares of company stock worth $892,301. 0.82% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

RRX has been the subject of several analyst reports. Oppenheimer increased their price target on shares of Regal Rexnord from $185.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, March 13th. Barclays upped their price objective on shares of Regal Rexnord from $200.00 to $203.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Finally, KeyCorp upped their price objective on shares of Regal Rexnord from $180.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, March 25th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Regal Rexnord currently has an average rating of “Moderate Buy” and an average target price of $197.00.

Regal Rexnord Price Performance

Shares of Regal Rexnord stock opened at $160.21 on Thursday. The company has a current ratio of 2.55, a quick ratio of 1.59 and a debt-to-equity ratio of 1.00. The company has a 50-day moving average of $170.06 and a 200 day moving average of $145.46. Regal Rexnord Co. has a 1 year low of $97.18 and a 1 year high of $183.85.

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

Regal Rexnord Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.40 annualized dividend and a dividend yield of 0.87%. Regal Rexnord’s payout ratio is -160.92%.

Regal Rexnord Company 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.