Regal Rexnord Co. (NYSE:RRX) Shares Purchased by Channing Capital Management LLC

Channing Capital Management LLC grew its position in shares of Regal Rexnord Co. (NYSE:RRX) by 7.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 84,383 shares of the company’s stock after purchasing an additional 6,051 shares during the period. Channing Capital Management LLC owned approximately 0.13% of Regal Rexnord worth $12,490,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Xponance Inc. raised its holdings in Regal Rexnord by 1.2% in the fourth quarter. Xponance Inc. now owns 8,003 shares of the company’s stock valued at $1,185,000 after acquiring an additional 91 shares in the last quarter. Mariner LLC raised its holdings in Regal Rexnord by 2.1% in the third quarter. Mariner LLC now owns 5,525 shares of the company’s stock valued at $789,000 after acquiring an additional 113 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in Regal Rexnord by 3.7% in the third quarter. Commonwealth Equity Services LLC now owns 3,277 shares of the company’s stock valued at $468,000 after acquiring an additional 118 shares in the last quarter. Cary Street Partners Investment Advisory LLC raised 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 acquiring an additional 150 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its holdings in Regal Rexnord by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 29,965 shares of the company’s stock valued at $4,281,000 after acquiring an additional 153 shares in the last quarter. 99.72% of the stock is currently owned by hedge funds and other institutional investors.

Regal Rexnord Price Performance

Shares of NYSE RRX traded up $2.54 during trading on Friday, hitting $165.08. 302,756 shares of the company were exchanged, compared to its average volume of 424,152. The company has a market cap of $10.98 billion, a price-to-earnings ratio of -189.74, a PEG ratio of 1.64 and a beta of 1.16. Regal Rexnord Co. has a 1 year low of $97.18 and a 1 year high of $183.85. The firm’s fifty day moving average price is $169.91 and its 200 day moving average price is $146.05. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.55 and a quick ratio of 1.59.

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

Regal Rexnord Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.85%. The ex-dividend date of this dividend is Friday, June 28th. Regal Rexnord’s dividend payout ratio (DPR) is presently -160.92%.

Insider Transactions at Regal Rexnord

In related news, EVP Thomas E. Valentyn sold 647 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $169.70, for a total value of $109,795.90. Following the completion of the transaction, the executive vice president now owns 28,412 shares of the company’s stock, valued at approximately $4,821,516.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Thomas E. Valentyn sold 647 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $169.70, for a total value of $109,795.90. Following the completion of the transaction, the executive vice president now owns 28,412 shares of the company’s stock, valued at approximately $4,821,516.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jerrald R. Morton sold 2,992 shares of Regal Rexnord stock in a transaction dated 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 sale, the executive vice president now owns 15,884 shares of the company’s stock, valued at approximately $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. 0.82% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

Regal Rexnord Company 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.