Xponance Inc. Boosts Stock Holdings in Regal Rexnord Co. (NYSE:RRX)

Xponance Inc. grew its position in shares of Regal Rexnord Co. (NYSE:RRX) by 1.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,003 shares of the company’s stock after purchasing an additional 91 shares during the quarter. Xponance Inc.’s holdings in Regal Rexnord were worth $1,185,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Global Retirement Partners LLC increased its holdings in shares of Regal Rexnord by 18.5% during the 3rd quarter. Global Retirement Partners LLC now owns 493 shares of the company’s stock valued at $68,000 after purchasing an additional 77 shares in the last quarter. Mariner LLC increased its holdings in shares of Regal Rexnord by 2.1% during the 3rd quarter. Mariner LLC now owns 5,525 shares of the company’s stock valued at $789,000 after purchasing an additional 113 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in Regal Rexnord by 3.7% in the 3rd quarter. Commonwealth Equity Services LLC now owns 3,277 shares of the company’s stock worth $468,000 after acquiring an additional 118 shares in the last quarter. IFP Advisors Inc increased its holdings in Regal Rexnord by 12.8% in the 3rd quarter. IFP Advisors Inc now owns 1,297 shares of the company’s stock worth $185,000 after acquiring an additional 147 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC increased its holdings in Regal Rexnord by 652.2% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 173 shares of the company’s stock worth $25,000 after acquiring an additional 150 shares in the last quarter. 99.72% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Jerrald R. Morton sold 2,992 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were 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 approximately $2,451,536.56. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Jerrald R. Morton sold 2,992 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were 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 approximately $2,451,536.56. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 transaction 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. In the last quarter, insiders have sold 5,570 shares of company stock valued at $892,301. 0.82% of the stock is currently owned by insiders.

Regal Rexnord Stock Performance

Shares of RRX opened at $164.39 on Thursday. Regal Rexnord Co. has a 52-week low of $97.18 and a 52-week high of $183.85. The company has a quick ratio of 1.59, a current ratio of 2.55 and a debt-to-equity ratio of 1.00. The firm’s fifty day moving average is $169.79 and its two-hundred day moving average is $144.48.

Regal Rexnord (NYSE:RRX) last announced its earnings results 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 for the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter in the previous year, the company posted $2.64 EPS. The firm’s quarterly revenue was up 29.2% on a year-over-year basis. Equities analysts predict that Regal Rexnord Co. will post 10.05 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

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 given a dividend of $0.35 per share. The ex-dividend date is Friday, June 28th. This represents a $1.40 annualized dividend and a dividend yield of 0.85%. Regal Rexnord’s payout ratio is -160.92%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on RRX shares. KeyCorp boosted their price target 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. Barclays boosted their price target on shares of Regal Rexnord from $200.00 to $203.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Finally, Oppenheimer boosted their price target 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. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Regal Rexnord currently has a consensus rating of “Moderate Buy” and a consensus target price 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.