7,442 Shares in Regal Rexnord Corporation $RRX Purchased by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp purchased a new position in Regal Rexnord Corporation (NYSE:RRX) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 7,442 shares of the company’s stock, valued at approximately $1,067,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Geneos Wealth Management Inc. boosted its position in shares of Regal Rexnord by 135.1% in the first 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. Allworth Financial LP boosted its holdings in shares of Regal Rexnord by 85.7% in the 2nd quarter. Allworth Financial LP now owns 195 shares of the company’s stock valued at $28,000 after purchasing an additional 90 shares during the last quarter. Root Financial Partners LLC purchased a new stake in shares of Regal Rexnord during the 3rd quarter valued at $28,000. SJS Investment Consulting Inc. increased its holdings in shares of Regal Rexnord by 95.1% during the 3rd quarter. SJS Investment Consulting Inc. now owns 199 shares of the company’s stock worth $29,000 after buying an additional 97 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in shares of Regal Rexnord by 216.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 272 shares of the company’s stock worth $39,000 after buying an additional 186 shares during the last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.

Insider Buying and Selling

In other Regal Rexnord news, CEO Louis V. Pinkham sold 35,935 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer owned 103,262 shares in the company, valued at $15,096,904.40. This trade represents a 25.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.82% of the company’s stock.

Regal Rexnord Stock Down 0.4%

Shares of NYSE:RRX opened at $161.46 on Friday. The company has a market capitalization of $10.72 billion, a price-to-earnings ratio of 41.72, a price-to-earnings-growth ratio of 1.50 and a beta of 1.12. The company has a 50 day moving average of $149.17 and a two-hundred day moving average of $146.09. Regal Rexnord Corporation has a 52-week low of $90.56 and a 52-week high of $163.38. The company has a quick ratio of 0.97, a current ratio of 2.05 and a debt-to-equity ratio of 0.71.

Regal Rexnord (NYSE:RRX) last announced its earnings results on Thursday, October 30th. The company reported $2.51 earnings per share for the quarter, missing the consensus estimate of $2.56 by ($0.05). The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Regal Rexnord had a net margin of 4.38% and a return on equity of 9.64%. Regal Rexnord’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter last year, the company posted $2.49 earnings per share. As a group, analysts forecast that Regal Rexnord Corporation will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm also recently declared 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 dividend yield of 0.9%. Regal Rexnord’s payout ratio is 36.18%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Robert W. Baird set a $212.00 price target on Regal Rexnord in a research report on Friday, October 31st. Barclays reiterated an “overweight” rating and set a $165.00 target price on shares of Regal Rexnord in a report on Monday, November 3rd. Jefferies Financial Group lowered shares of Regal Rexnord from a “buy” rating to a “hold” rating and cut their price target for the company from $170.00 to $160.00 in a report on Wednesday, December 10th. Zacks Research upgraded shares of Regal Rexnord from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 30th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Regal Rexnord in a research report on Thursday, January 22nd. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $180.25.

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.