Dynamic Technology Lab Private Ltd Raises Stake in Regal Rexnord Co. (NYSE:RRX)

Dynamic Technology Lab Private Ltd grew its holdings in shares of Regal Rexnord Co. (NYSE:RRX) by 79.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,257 shares of the company’s stock after acquiring an additional 4,981 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Regal Rexnord were worth $1,867,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Westfield Capital Management Co. LP raised its position in Regal Rexnord by 68.9% in the 3rd quarter. Westfield Capital Management Co. LP now owns 979,521 shares of the company’s stock worth $162,483,000 after purchasing an additional 399,649 shares during the period. Cerity Partners LLC grew its stake in shares of Regal Rexnord by 11.7% in the third quarter. Cerity Partners LLC now owns 2,632 shares of the company’s stock worth $436,000 after purchasing an additional 276 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Regal Rexnord by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 431,774 shares of the company’s stock valued at $71,623,000 after purchasing an additional 4,752 shares during the period. Moors & Cabot Inc. bought a new position in Regal Rexnord during the 3rd quarter valued at approximately $341,000. Finally, Jennison Associates LLC lifted its holdings in Regal Rexnord by 4.7% in the 3rd quarter. Jennison Associates LLC now owns 131,255 shares of the company’s stock worth $21,773,000 after buying an additional 5,942 shares during the period. 99.72% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Regal Rexnord

In related news, CEO Louis V. Pinkham sold 8,774 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $180.03, for a total value of $1,579,583.22. Following the transaction, the chief executive officer now directly owns 149,618 shares of the company’s stock, valued at approximately $26,935,728.54. This represents a 5.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.82% of the stock is owned by company insiders.

Regal Rexnord Price Performance

Shares of RRX opened at $182.22 on Tuesday. The firm’s 50-day simple moving average is $170.10 and its two-hundred day simple moving average is $157.21. Regal Rexnord Co. has a fifty-two week low of $113.79 and a fifty-two week high of $185.28. The stock has a market cap of $12.07 billion, a PE ratio of 57.48, a price-to-earnings-growth ratio of 1.92 and a beta of 1.04. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.35 and a current ratio of 2.45.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings data on Monday, November 4th. The company reported $2.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.48 by $0.01. Regal Rexnord had a return on equity of 9.48% and a net margin of 3.41%. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter in the previous year, the business earned $2.10 earnings per share. The firm’s quarterly revenue was down 10.4% compared to the same quarter last year. Analysts anticipate that Regal Rexnord Co. will post 9.25 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.77%. The ex-dividend date is Tuesday, December 31st. Regal Rexnord’s dividend payout ratio (DPR) is 44.16%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Citigroup began coverage on Regal Rexnord in a research note on Monday, October 14th. They set a “buy” rating and a $200.00 target price on the stock. The Goldman Sachs Group boosted their price objective on shares of Regal Rexnord from $176.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. StockNews.com raised shares of Regal Rexnord from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th. Loop Capital reiterated a “buy” rating and set a $200.00 price target on shares of Regal Rexnord in a research report on Thursday, September 19th. Finally, Barclays raised their price objective on shares of Regal Rexnord from $180.00 to $190.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Regal Rexnord presently has a consensus rating of “Moderate Buy” and an average target price of $193.00.

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.