M&T Bank Corp Grows Stock Holdings in Regal Rexnord Corporation $RRX

M&T Bank Corp grew its holdings in shares of Regal Rexnord Corporation (NYSE:RRX) by 314.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 8,596 shares of the company’s stock after acquiring an additional 6,522 shares during the period. M&T Bank Corp’s holdings in Regal Rexnord were worth $1,206,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Geneos Wealth Management Inc. raised its holdings in Regal Rexnord by 135.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock worth $25,000 after acquiring an additional 127 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new position in Regal Rexnord in the 3rd quarter worth approximately $27,000. Root Financial Partners LLC purchased a new position in Regal Rexnord in the 3rd quarter worth approximately $28,000. SJS Investment Consulting Inc. raised its holdings in Regal Rexnord by 95.1% in the 3rd quarter. SJS Investment Consulting Inc. now owns 199 shares of the company’s stock worth $29,000 after acquiring an additional 97 shares during the last quarter. Finally, Advisory Services Network LLC purchased a new position in Regal Rexnord in the 3rd quarter worth approximately $35,000. 99.72% of the stock is currently owned by hedge funds and other institutional investors.

Regal Rexnord Trading Down 2.6%

NYSE:RRX opened at $204.08 on Thursday. The company has a current ratio of 2.15, a quick ratio of 1.10 and a debt-to-equity ratio of 0.70. Regal Rexnord Corporation has a 12 month low of $102.23 and a 12 month high of $229.30. The company has a market cap of $13.58 billion, a PE ratio of 48.59, a price-to-earnings-growth ratio of 1.98 and a beta of 1.11. The company has a 50 day simple moving average of $200.28 and a two-hundred day simple moving average of $170.26.

Regal Rexnord (NYSE:RRX) last posted its earnings results on Thursday, February 5th. The company reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. Regal Rexnord had a net margin of 4.71% and a return on equity of 9.60%. The business had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the previous year, the firm posted $2.34 EPS. The firm’s revenue was up 4.3% on a year-over-year basis. Research analysts forecast that Regal Rexnord Corporation will post 10.76 earnings per share for the current year.

Regal Rexnord Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.7%. Regal Rexnord’s payout ratio is presently 33.33%.

Insider Buying and Selling at Regal Rexnord

In other news, EVP Cheryl Lewis sold 2,262 shares of the business’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $215.73, for a total transaction of $487,981.26. Following the completion of the sale, the executive vice president owned 13,219 shares of the company’s stock, valued at $2,851,734.87. The trade was a 14.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Robert Rehard sold 968 shares of the business’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $223.00, for a total transaction of $215,864.00. Following the sale, the chief financial officer directly owned 34,447 shares of the company’s stock, valued at approximately $7,681,681. The trade was a 2.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 53,451 shares of company stock worth $11,386,689. 0.63% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

RRX has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Regal Rexnord from $190.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, February 6th. Wall Street Zen lowered shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Oppenheimer boosted their price objective on shares of Regal Rexnord from $180.00 to $225.00 and gave the stock an “outperform” rating in a report on Friday, February 6th. Robert W. Baird set a $253.00 price objective on shares of Regal Rexnord in a report on Friday, February 6th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Regal Rexnord in a report on Tuesday, April 21st. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Regal Rexnord presently has an average rating of “Moderate Buy” and a consensus price target of $229.75.

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.