Mediolanum International Funds Ltd Invests $7.69 Million in Regal Rexnord Corporation $RRX

Mediolanum International Funds Ltd acquired a new stake in shares of Regal Rexnord Corporation (NYSE:RRX) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 53,230 shares of the company’s stock, valued at approximately $7,685,000. Mediolanum International Funds Ltd owned 0.08% of Regal Rexnord at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of RRX. Viking Global Investors LP lifted its position in shares of Regal Rexnord by 25.7% in the second quarter. Viking Global Investors LP now owns 3,430,128 shares of the company’s stock valued at $497,231,000 after acquiring an additional 701,145 shares in the last quarter. Nordea Investment Management AB raised its stake in Regal Rexnord by 30.7% during the 3rd quarter. Nordea Investment Management AB now owns 2,028,936 shares of the company’s stock valued at $289,083,000 after purchasing an additional 476,802 shares during the period. Norges Bank bought a new stake in Regal Rexnord during the 2nd quarter valued at approximately $256,155,000. Invesco Ltd. lifted its holdings in Regal Rexnord by 36.6% in the 2nd quarter. Invesco Ltd. now owns 1,274,266 shares of the company’s stock worth $184,718,000 after purchasing an additional 341,437 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its stake in Regal Rexnord by 0.4% in the 2nd quarter. Alliancebernstein L.P. now owns 812,164 shares of the company’s stock worth $117,731,000 after purchasing an additional 3,574 shares during the period. Institutional investors own 99.72% of the company’s stock.

Insider Transactions at Regal Rexnord

In other Regal Rexnord news, CEO Louis V. Pinkham sold 35,935 shares of Regal Rexnord stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $146.20, for a total transaction of $5,253,697.00. Following the completion of the transaction, the chief executive officer directly owned 103,262 shares of the company’s stock, valued at $15,096,904.40. The trade was a 25.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.82% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on RRX shares. Zacks Research upgraded shares of Regal Rexnord from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 30th. Robert W. Baird set a $212.00 price target on shares of Regal Rexnord in a research note on Friday, October 31st. Barclays restated an “overweight” rating and set a $165.00 price objective on shares of Regal Rexnord in a research report on Monday, November 3rd. Citigroup lifted their target price on Regal Rexnord from $175.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Regal Rexnord in a research note on Thursday, January 22nd. Seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $180.25.

Regal Rexnord Stock Up 5.2%

Shares of NYSE:RRX opened at $169.90 on Tuesday. The company has a market cap of $11.28 billion, a price-to-earnings ratio of 43.90, a PEG ratio of 1.50 and a beta of 1.12. Regal Rexnord Corporation has a 12 month low of $90.56 and a 12 month high of $170.78. The company has a current ratio of 2.05, a quick ratio of 0.97 and a debt-to-equity ratio of 0.71. The company has a 50-day moving average price of $149.72 and a 200 day moving average price of $146.21.

Regal Rexnord Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 14th. Investors of record on Tuesday, March 31st will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.8%. The ex-dividend date is Tuesday, March 31st. Regal Rexnord’s dividend payout ratio is presently 36.18%.

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.