MeadowBrook Investment Advisors LLC Buys New Shares in Regal Rexnord Co. (NYSE:RRX)

MeadowBrook Investment Advisors LLC bought a new stake in Regal Rexnord Co. (NYSE:RRX) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,805 shares of the company’s stock, valued at approximately $267,000.

Other hedge funds have also recently made changes to their positions in the company. Cary Street Partners Investment Advisory LLC boosted its holdings in Regal Rexnord by 652.2% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 173 shares of the company’s stock valued at $25,000 after purchasing an additional 150 shares during the last quarter. GAMMA Investing LLC purchased a new stake in Regal Rexnord in the fourth quarter valued at $58,000. Benjamin F. Edwards & Company Inc. purchased a new stake in Regal Rexnord in the fourth quarter valued at $100,000. Global Retirement Partners LLC boosted its holdings in Regal Rexnord by 63.9% in the fourth quarter. Global Retirement Partners LLC now owns 808 shares of the company’s stock valued at $109,000 after purchasing an additional 315 shares during the last quarter. Finally, CWM LLC boosted its holdings in Regal Rexnord by 48.5% in the fourth quarter. CWM LLC now owns 738 shares of the company’s stock valued at $109,000 after purchasing an additional 241 shares during the last quarter. 99.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. KeyCorp increased their target price on shares of Regal Rexnord from $180.00 to $210.00 and gave the stock an “overweight” rating in a research note on Monday, March 25th. Oppenheimer increased their price objective on shares of Regal Rexnord from $185.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, March 13th. Finally, Barclays increased their price objective on shares of Regal Rexnord from $200.00 to $203.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $197.00.

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 that occurred on Monday, February 12th. The shares were sold at an average price of $154.34, for a total value of $461,785.28. Following the completion of the transaction, the executive vice president now owns 15,884 shares of the company’s stock, valued at approximately $2,451,536.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Thomas E. Valentyn sold 1,931 shares of Regal Rexnord stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $166.09, for a total transaction of $320,719.79. Following the completion of the sale, the executive vice president now directly owns 27,180 shares of the company’s stock, valued at approximately $4,514,326.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Jerrald R. Morton sold 2,992 shares of Regal Rexnord stock in a transaction 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 sale, the executive vice president now directly owns 15,884 shares of the company’s stock, valued at $2,451,536.56. The disclosure for this sale can be found here. Insiders sold 5,570 shares of company stock valued at $892,301 in the last 90 days. Company insiders own 0.82% of the company’s stock.

Regal Rexnord Trading Up 2.3 %

Shares of NYSE:RRX traded up $3.78 during mid-day trading on Monday, reaching $168.86. 605,480 shares of the company were exchanged, compared to its average volume of 455,418. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.55 and a quick ratio of 1.59. The firm has a market cap of $11.23 billion, a price-to-earnings ratio of -192.89, a P/E/G ratio of 1.64 and a beta of 1.16. The firm’s 50-day simple moving average is $169.91 and its 200 day simple moving average is $146.05. Regal Rexnord Co. has a 1 year low of $97.18 and a 1 year high of $183.85.

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

Regal Rexnord Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be given a $0.35 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.40 annualized dividend and a yield of 0.83%. Regal Rexnord’s dividend 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.