Regal Rexnord Co. (NYSE:RRX) Shares Acquired by Avior Wealth Management LLC

Avior Wealth Management LLC increased its position in Regal Rexnord Co. (NYSE:RRX) by 10,066.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,830 shares of the company’s stock after buying an additional 1,812 shares during the period. Avior Wealth Management LLC’s holdings in Regal Rexnord were worth $271,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC raised its position in shares of Regal Rexnord by 80.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 509,265 shares of the company’s stock valued at $75,382,000 after buying an additional 226,435 shares during the last quarter. WCM Investment Management LLC raised its position in shares of Regal Rexnord by 56.8% in the fourth quarter. WCM Investment Management LLC now owns 144,139 shares of the company’s stock valued at $21,549,000 after buying an additional 52,214 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Regal Rexnord by 13.5% in the third quarter. The Manufacturers Life Insurance Company now owns 354,484 shares of the company’s stock valued at $50,649,000 after buying an additional 42,110 shares during the last quarter. O Shaughnessy Asset Management LLC increased its position in Regal Rexnord by 7.1% during the third quarter. O Shaughnessy Asset Management LLC now owns 3,834 shares of the company’s stock worth $548,000 after purchasing an additional 253 shares during the last quarter. Finally, UBS Group AG increased its position in Regal Rexnord by 58.8% during the third quarter. UBS Group AG now owns 90,990 shares of the company’s stock worth $13,001,000 after purchasing an additional 33,689 shares during the last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on RRX. Oppenheimer upped their price target on shares of Regal Rexnord from $185.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 13th. Barclays upped their price target 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. Finally, KeyCorp upped their price target on shares of Regal Rexnord from $180.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, March 25th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $197.00.

Regal Rexnord Stock Performance

Regal Rexnord stock opened at $159.72 on Friday. Regal Rexnord Co. has a 52-week low of $97.18 and a 52-week high of $183.85. The firm has a fifty day moving average of $168.89 and a 200-day moving average of $143.70. 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 released its quarterly earnings data on Wednesday, February 7th. The company reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.02. Regal Rexnord had a negative net margin of 0.92% and a positive return on equity of 9.58%. The company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the prior year, the business earned $2.64 earnings per share. The business’s quarterly revenue was up 29.2% compared to the same quarter last year. As a group, analysts predict that Regal Rexnord Co. will post 10.05 EPS for the current year.

Regal Rexnord Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Thursday, March 28th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.88%. The ex-dividend date was Wednesday, March 27th. Regal Rexnord’s payout ratio is currently -160.92%.

Insider Transactions at Regal Rexnord

In other news, EVP Jerrald R. Morton sold 2,992 shares of the stock in a transaction on 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 $2,451,536.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Thomas E. Valentyn sold 647 shares of the company’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 28,412 shares in the company, valued at $4,821,516.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jerrald R. Morton sold 2,992 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $154.34, for a total transaction of $461,785.28. Following the completion of the transaction, the executive vice president now owns 15,884 shares of the company’s stock, valued at $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 over the last 90 days. Corporate insiders own 0.82% of the company’s stock.

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.