Dynamic Technology Lab Private Ltd Buys 4,981 Shares of Regal Rexnord Co. (NYSE:RRX)

Dynamic Technology Lab Private Ltd lifted its stake in Regal Rexnord Co. (NYSE:RRX) by 79.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,257 shares of the company’s stock after acquiring an additional 4,981 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Regal Rexnord were worth $1,867,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Harbor Capital Advisors Inc. bought a new stake in Regal Rexnord in the 2nd quarter worth approximately $1,173,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Regal Rexnord by 31.4% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 19,686 shares of the company’s stock worth $2,662,000 after acquiring an additional 4,701 shares during the period. Natixis Advisors LLC increased its position in Regal Rexnord by 15.3% during the third quarter. Natixis Advisors LLC now owns 86,933 shares of the company’s stock valued at $14,420,000 after acquiring an additional 11,568 shares during the last quarter. Texas Permanent School Fund Corp lifted its holdings in Regal Rexnord by 7.0% in the second quarter. Texas Permanent School Fund Corp now owns 62,101 shares of the company’s stock valued at $8,397,000 after acquiring an additional 4,076 shares during the period. Finally, Intech Investment Management LLC boosted its position in Regal Rexnord by 879.3% in the second quarter. Intech Investment Management LLC now owns 13,896 shares of the company’s stock worth $1,879,000 after purchasing an additional 12,477 shares during the last quarter. 99.72% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Regal Rexnord

In other Regal Rexnord news, CEO Louis V. Pinkham sold 8,774 shares of Regal Rexnord stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $180.03, for a total value of $1,579,583.22. Following the sale, the chief executive officer now owns 149,618 shares of the company’s stock, valued at $26,935,728.54. The trade was a 5.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.82% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. The Goldman Sachs Group upped their price target on shares of Regal Rexnord from $176.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Citigroup began coverage on shares of Regal Rexnord in a report on Monday, October 14th. They set a “buy” rating and a $200.00 target price for the company. Loop Capital reiterated a “buy” rating and set a $200.00 price target on shares of Regal Rexnord in a research note on Thursday, September 19th. Robert W. Baird reduced their price objective on Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Finally, StockNews.com upgraded Regal Rexnord from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $193.00.

Regal Rexnord Trading Up 2.7 %

Shares of RRX stock opened at $182.22 on Tuesday. The stock has a fifty day simple moving average of $170.10 and a two-hundred day simple moving average of $157.21. Regal Rexnord Co. has a 52-week low of $113.79 and a 52-week high of $185.28. The firm has a market capitalization of $12.07 billion, a PE ratio of 57.48, a PEG ratio of 1.92 and a beta of 1.04. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.35 and a current ratio of 2.45.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings results on Monday, November 4th. The company reported $2.49 EPS for the quarter, topping analysts’ consensus estimates of $2.48 by $0.01. Regal Rexnord had a return on equity of 9.48% and a net margin of 3.41%. The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same period in the previous year, the firm earned $2.10 EPS. The firm’s revenue was down 10.4% compared to the same quarter last year. On average, analysts predict that Regal Rexnord Co. will post 9.25 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.40 annualized dividend and a yield of 0.77%. Regal Rexnord’s payout ratio is 44.16%.

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.