Regents Gate Capital LLP Makes New Investment in Regal Rexnord Corporation $RRX

Regents Gate Capital LLP acquired a new stake in Regal Rexnord Corporation (NYSE:RRX) during the 3rd quarter, Holdings Channel reports. The institutional investor acquired 17,709 shares of the company’s stock, valued at approximately $2,540,000.

A number of other hedge funds also recently made changes to their positions in RRX. Viking Global Investors LP increased its holdings in shares of Regal Rexnord by 25.7% during the 2nd quarter. Viking Global Investors LP now owns 3,430,128 shares of the company’s stock worth $497,231,000 after acquiring an additional 701,145 shares during the last quarter. Nordea Investment Management AB boosted its position in Regal Rexnord by 30.7% during the third quarter. Nordea Investment Management AB now owns 2,028,936 shares of the company’s stock worth $289,083,000 after purchasing an additional 476,802 shares during the period. Norges Bank bought a new position in Regal Rexnord during the second quarter worth $256,155,000. Invesco Ltd. increased its holdings in shares of Regal Rexnord by 36.6% in the second quarter. Invesco Ltd. now owns 1,274,266 shares of the company’s stock valued at $184,718,000 after purchasing an additional 341,437 shares during the last quarter. Finally, Westfield Capital Management Co. LP raised its position in shares of Regal Rexnord by 40.4% in the third quarter. Westfield Capital Management Co. LP now owns 1,221,730 shares of the company’s stock valued at $175,245,000 after purchasing an additional 351,599 shares during the period. 99.72% of the stock is owned by institutional investors and hedge funds.

Regal Rexnord Stock Performance

NYSE RRX opened at $220.86 on Monday. The firm has a 50-day moving average price of $175.47 and a two-hundred day moving average price of $154.72. Regal Rexnord Corporation has a 12-month low of $90.56 and a 12-month high of $229.30. The company has a market capitalization of $14.69 billion, a P/E ratio of 52.59, a P/E/G ratio of 2.05 and a beta of 1.05. The company has a quick ratio of 1.10, a current ratio of 2.15 and a debt-to-equity ratio of 0.70.

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

Regal Rexnord Announces Dividend

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. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Tuesday, March 31st. Regal Rexnord’s dividend payout ratio is presently 33.33%.

Analyst Upgrades and Downgrades

Several analysts recently commented on RRX shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Regal Rexnord in a report on Thursday, January 22nd. Zacks Research upgraded shares of Regal Rexnord from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 30th. KeyCorp boosted their price objective on Regal Rexnord from $200.00 to $255.00 and gave the stock an “overweight” rating in a report on Tuesday, February 10th. Barclays upped their target price on Regal Rexnord from $165.00 to $237.00 and gave the company an “overweight” rating in a research report on Monday, February 9th. Finally, Oppenheimer increased their target price on Regal Rexnord from $180.00 to $225.00 and gave the stock an “outperform” rating in a research note on Friday, February 6th. Seven investment analysts have rated the stock with a Buy rating and three have given a Hold 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 $227.50.

Insider Buying and Selling

In related news, EVP Cheryl Lewis sold 2,262 shares of the company’s stock in a transaction dated 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. This represents a 14.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Curtis W. Stoelting sold 4,500 shares of the stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $180.00, for a total transaction of $810,000.00. Following the sale, the director owned 15,617 shares in the company, valued at $2,811,060. The trade was a 22.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 53,451 shares of company stock valued at $11,386,689. 0.82% of the stock is owned by insiders.

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.