Eurizon Capital SGR S.p.A. Makes New $386,000 Investment in Regal Rexnord Corporation $RRX

Eurizon Capital SGR S.p.A. acquired a new position in shares of Regal Rexnord Corporation (NYSE:RRX) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,738 shares of the company’s stock, valued at approximately $386,000.

Several other hedge funds have also recently bought and sold shares of the stock. Savant Capital LLC raised its stake in Regal Rexnord by 5.0% during the fourth quarter. Savant Capital LLC now owns 2,563 shares of the company’s stock worth $360,000 after acquiring an additional 121 shares in the last quarter. Moors & Cabot Inc. raised its stake in Regal Rexnord by 5.3% during the fourth quarter. Moors & Cabot Inc. now owns 4,040 shares of the company’s stock worth $567,000 after acquiring an additional 203 shares in the last quarter. Intech Investment Management LLC raised its stake in Regal Rexnord by 0.9% during the fourth quarter. Intech Investment Management LLC now owns 23,724 shares of the company’s stock worth $3,329,000 after acquiring an additional 200 shares in the last quarter. Geode Capital Management LLC raised its stake in Regal Rexnord by 4.7% during the fourth quarter. Geode Capital Management LLC now owns 1,231,262 shares of the company’s stock worth $172,806,000 after acquiring an additional 55,797 shares in the last quarter. Finally, Malaga Cove Capital LLC acquired a new position in Regal Rexnord during the fourth quarter worth $287,000. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

RRX has been the subject of several recent analyst reports. Robert W. Baird set a $253.00 price objective on Regal Rexnord in a research note on Friday, February 6th. JPMorgan Chase & Co. increased their price objective on Regal Rexnord from $230.00 to $240.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. Citigroup increased their price objective on Regal Rexnord from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Monday, April 13th. The Goldman Sachs Group increased their price objective on Regal Rexnord from $170.00 to $230.00 and gave the stock a “buy” rating in a research note on Monday, February 9th. Finally, KeyCorp raised their target price on Regal Rexnord from $255.00 to $265.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $232.25.

Insider Buying and Selling

In related news, CEO Louis V. Pinkham sold 22,509 shares of Regal Rexnord stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $211.68, for a total value of $4,764,705.12. Following the completion of the sale, the chief executive officer directly owned 56,749 shares in the company, valued at $12,012,628.32. This trade represents a 28.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robin A. Walker-Lee sold 1,297 shares of Regal Rexnord stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $213.85, for a total value of $277,363.45. Following the completion of the sale, the director owned 5,503 shares of the company’s stock, valued at approximately $1,176,816.55. The trade was a 19.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 30,305 shares of company stock worth $6,341,869 over the last three months. 0.63% of the stock is currently owned by company insiders.

Regal Rexnord Stock Performance

Shares of NYSE:RRX opened at $215.87 on Thursday. Regal Rexnord Corporation has a twelve month low of $127.96 and a twelve month high of $236.35. The firm has a market cap of $14.37 billion, a PE ratio of 50.20, a price-to-earnings-growth ratio of 2.01 and a beta of 1.11. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.08 and a current ratio of 2.17. The business has a fifty day moving average of $202.17 and a 200-day moving average of $180.96.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings data on Thursday, May 7th. The company reported $2.17 EPS for the quarter, topping analysts’ consensus estimates of $2.11 by $0.06. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.43 billion. Regal Rexnord had a return on equity of 9.49% and a net margin of 4.78%.The company’s revenue was up 4.3% on a year-over-year basis. During the same period last year, the company earned $2.15 earnings per share. On average, equities research analysts predict that Regal Rexnord Corporation will post 10.63 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 30th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Tuesday, June 30th. Regal Rexnord’s dividend payout ratio (DPR) is presently 32.56%.

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.