Headlands Technologies LLC Buys Shares of 710 Regal Rexnord Corporation (NYSE:RRX)

Headlands Technologies LLC bought a new position in Regal Rexnord Corporation (NYSE:RRX) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 710 shares of the company’s stock, valued at approximately $81,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Jefferies Financial Group Inc. bought a new stake in Regal Rexnord in the fourth quarter worth $1,427,000. Avantax Advisory Services Inc. lifted its position in shares of Regal Rexnord by 19.7% in the first quarter. Avantax Advisory Services Inc. now owns 3,152 shares of the company’s stock worth $359,000 after buying an additional 519 shares during the last quarter. Polar Asset Management Partners Inc. bought a new stake in shares of Regal Rexnord during the 4th quarter worth about $9,463,000. Pinebridge Investments L.P. increased its holdings in shares of Regal Rexnord by 42.7% during the 4th quarter. Pinebridge Investments L.P. now owns 19,024 shares of the company’s stock valued at $2,951,000 after acquiring an additional 5,693 shares during the last quarter. Finally, Polianta Ltd increased its holdings in shares of Regal Rexnord by 33.8% during the 1st quarter. Polianta Ltd now owns 9,100 shares of the company’s stock valued at $1,036,000 after acquiring an additional 2,300 shares during the last quarter. 99.72% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Louis V. Pinkham sold 10,593 shares of the firm’s stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $140.33, for a total value of $1,486,515.69. Following the completion of the transaction, the chief executive officer directly owned 175,954 shares of the company’s stock, valued at $24,691,624.82. This trade represents a 5.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. KeyCorp set a $180.00 target price on Regal Rexnord and gave the stock an “overweight” rating in a report on Thursday, June 26th. Robert W. Baird boosted their price objective on shares of Regal Rexnord from $167.00 to $172.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 7th. Barclays raised their target price on shares of Regal Rexnord from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, July 9th. Citigroup reissued a “buy” rating and set a $165.00 target price (up previously from $145.00) on shares of Regal Rexnord in a research report on Tuesday, June 24th. Finally, The Goldman Sachs Group upped their price target on shares of Regal Rexnord from $173.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, July 8th. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $185.25.

Regal Rexnord Price Performance

Shares of Regal Rexnord stock opened at $143.03 on Wednesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.00 and a quick ratio of 0.93. The company has a market cap of $9.49 billion, a PE ratio of 38.04, a price-to-earnings-growth ratio of 1.39 and a beta of 1.18. The firm has a fifty day moving average price of $146.57 and a two-hundred day moving average price of $132.57. Regal Rexnord Corporation has a fifty-two week low of $90.56 and a fifty-two week high of $185.28.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $2.48 EPS for the quarter, beating analysts’ consensus estimates of $2.42 by $0.06. Regal Rexnord had a net margin of 4.28% and a return on equity of 9.73%. The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the prior year, the business earned $2.29 earnings per share. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. Analysts expect that Regal Rexnord Corporation will post 9.95 EPS for the current year.

Regal Rexnord Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 14th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.35 per share. The ex-dividend date is Tuesday, September 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.0%. Regal Rexnord’s payout ratio is currently 37.23%.

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.