Y Intercept Hong Kong Ltd Acquires Shares of 12,212 Regal Rexnord Corporation $RRX

Y Intercept Hong Kong Ltd bought a new position in shares of Regal Rexnord Corporation (NYSE:RRX) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 12,212 shares of the company’s stock, valued at approximately $1,752,000.

Other large investors also recently modified their holdings of the company. Mitsubishi UFJ Trust & Banking Corp bought a new stake in Regal Rexnord during the 3rd quarter valued at $1,067,000. Parkside Financial Bank & Trust grew its holdings in shares of Regal Rexnord by 124.1% during the third quarter. Parkside Financial Bank & Trust now owns 316 shares of the company’s stock valued at $45,000 after buying an additional 175 shares during the last quarter. Hudson Edge Investment Partners Inc. grew its holdings in shares of Regal Rexnord by 21.4% during the third quarter. Hudson Edge Investment Partners Inc. now owns 8,060 shares of the company’s stock valued at $1,156,000 after buying an additional 1,420 shares during the last quarter. Bruce G. Allen Investments LLC increased its position in shares of Regal Rexnord by 4,471.4% during the third quarter. Bruce G. Allen Investments LLC now owns 320 shares of the company’s stock worth $46,000 after acquiring an additional 313 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in shares of Regal Rexnord by 53.2% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 22,379 shares of the company’s stock worth $3,210,000 after acquiring an additional 7,773 shares during the last quarter. 99.72% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Regal Rexnord news, CEO Louis V. Pinkham sold 35,935 shares of the stock in a transaction on Tuesday, November 25th. The stock was 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 approximately $15,096,904.40. This represents a 25.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.82% of the company’s stock.

Regal Rexnord Price Performance

Shares of NYSE:RRX opened at $162.03 on Friday. The company has a market capitalization of $10.76 billion, a P/E ratio of 41.87, a price-to-earnings-growth ratio of 1.45 and a beta of 1.12. The company’s 50-day moving average is $148.70 and its 200 day moving average is $145.98. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.97 and a current ratio of 2.05. Regal Rexnord Corporation has a fifty-two week low of $90.56 and a fifty-two week high of $165.40.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings data on Thursday, October 30th. The company reported $2.51 EPS for the quarter, missing the consensus estimate of $2.56 by ($0.05). The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.49 billion. Regal Rexnord had a return on equity of 9.64% and a net margin of 4.38%.The business’s revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.49 EPS. On average, equities research analysts forecast that Regal Rexnord Corporation will post 9.95 earnings per share for the current year.

Regal Rexnord Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 14th. Investors of record on Tuesday, March 31st will be paid a $0.35 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $1.40 annualized dividend and a yield of 0.9%. Regal Rexnord’s dividend payout ratio is presently 36.18%.

Analyst Ratings Changes

A number of equities analysts have issued reports on RRX shares. Zacks Research upgraded Regal Rexnord from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 30th. Citigroup lifted their target price on Regal Rexnord from $175.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Robert W. Baird set a $212.00 price target on Regal Rexnord in a report on Friday, October 31st. Weiss Ratings reissued a “hold (c)” rating on shares of Regal Rexnord in a research report on Thursday, January 22nd. Finally, Jefferies Financial Group downgraded shares of Regal Rexnord from a “buy” rating to a “hold” rating and cut their price objective for the stock from $170.00 to $160.00 in a report on Wednesday, December 10th. Seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $180.25.

Regal Rexnord Company 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.