MeadowBrook Investment Advisors LLC Purchases Shares of 1,805 Regal Rexnord Co. (NYSE:RRX)

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

Several other hedge funds and other institutional investors have also recently bought and sold shares of RRX. FMR LLC increased its position in Regal Rexnord by 2.1% in the third quarter. FMR LLC now owns 8,978,384 shares of the company’s stock worth $1,282,831,000 after purchasing an additional 181,889 shares during the period. Bank of New York Mellon Corp lifted its stake in Regal Rexnord by 2.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 657,959 shares of the company’s stock valued at $94,009,000 after acquiring an additional 17,810 shares in the last quarter. Third Point LLC bought a new stake in Regal Rexnord in the 3rd quarter valued at approximately $92,872,000. Invesco Ltd. lifted its stake in Regal Rexnord by 37.4% in the 3rd quarter. Invesco Ltd. now owns 521,492 shares of the company’s stock valued at $74,511,000 after acquiring an additional 141,939 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Regal Rexnord by 80.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 509,265 shares of the company’s stock worth $75,382,000 after purchasing an additional 226,435 shares during the last quarter. 99.72% of the stock is owned by institutional investors.

Regal Rexnord Trading Up 2.3 %

Shares of RRX stock traded up $3.78 on Monday, hitting $168.86. The company had a trading volume of 605,480 shares, compared to its average volume of 455,418. The firm has a market cap of $11.23 billion, a P/E ratio of -192.89, a P/E/G ratio of 1.64 and a beta of 1.16. The stock’s 50-day moving average is $169.91 and its two-hundred day moving average is $146.05. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.59 and a current ratio of 2.55. Regal Rexnord Co. has a twelve month low of $97.18 and a twelve month high of $183.85.

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

Regal Rexnord Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.40 dividend on an annualized basis and a yield of 0.83%. Regal Rexnord’s payout ratio is currently -160.92%.

Insiders Place Their Bets

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 stock was sold at an average price of $154.34, for a total value of $461,785.28. Following the completion of the sale, the executive vice president now owns 15,884 shares of the company’s stock, valued at $2,451,536.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Jerrald R. Morton sold 2,992 shares of Regal Rexnord stock in a transaction that occurred 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 transaction, the executive vice president now owns 15,884 shares of the company’s stock, valued at $2,451,536.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Thomas E. Valentyn sold 647 shares of Regal Rexnord stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $169.70, for a total value of $109,795.90. Following the transaction, the executive vice president now directly owns 28,412 shares in the company, valued at approximately $4,821,516.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,570 shares of company stock worth $892,301. 0.82% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Oppenheimer boosted their target price on Regal Rexnord from $185.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, March 13th. KeyCorp boosted their price target on Regal Rexnord from $180.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, March 25th. Finally, Barclays boosted their price target on Regal Rexnord from $200.00 to $203.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $197.00.

About Regal Rexnord

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.