1,608 Shares in Regal Rexnord Co. (NYSE:RRX) Acquired by Townsquare Capital LLC

Townsquare Capital LLC bought a new position in Regal Rexnord Co. (NYSE:RRX) in the third quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,608 shares of the company’s stock, valued at approximately $267,000.

A number of other hedge funds have also added to or reduced their stakes in RRX. Headlands Technologies LLC bought a new stake in shares of Regal Rexnord in the second quarter worth $46,000. 1620 Investment Advisors Inc. purchased a new position in Regal Rexnord in the second quarter worth about $52,000. UMB Bank n.a. grew its stake in shares of Regal Rexnord by 72.5% during the 3rd quarter. UMB Bank n.a. now owns 345 shares of the company’s stock valued at $57,000 after purchasing an additional 145 shares during the period. GAMMA Investing LLC increased its position in shares of Regal Rexnord by 13.9% during the 2nd quarter. GAMMA Investing LLC now owns 647 shares of the company’s stock valued at $87,000 after purchasing an additional 79 shares during the last quarter. Finally, CWM LLC lifted its stake in shares of Regal Rexnord by 25.4% in the 2nd quarter. CWM LLC now owns 825 shares of the company’s stock worth $112,000 after purchasing an additional 167 shares during the period. 99.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RRX has been the subject of several recent research reports. Loop Capital restated a “buy” rating and set a $200.00 target price on shares of Regal Rexnord in a research report on Thursday, September 19th. StockNews.com raised shares of Regal Rexnord from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th. Barclays raised their target price on Regal Rexnord from $190.00 to $205.00 and gave the stock an “overweight” rating in a report on Thursday. Citigroup assumed coverage on Regal Rexnord in a report on Monday, October 14th. They set a “buy” rating and a $200.00 price target for the company. Finally, Robert W. Baird decreased their price objective on Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $194.88.

Regal Rexnord Stock Performance

NYSE:RRX opened at $170.45 on Friday. The stock has a 50-day moving average price of $171.33 and a 200 day moving average price of $158.04. The company has a current ratio of 2.45, a quick ratio of 1.35 and a debt-to-equity ratio of 0.87. Regal Rexnord Co. has a 12-month low of $122.49 and a 12-month high of $185.28. The stock has a market capitalization of $11.29 billion, a P/E ratio of 53.77, a P/E/G ratio of 1.89 and a beta of 1.03.

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 net margin of 3.41% and a return on equity of 9.48%. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same period last year, the firm posted $2.10 EPS. The company’s revenue was down 10.4% on a year-over-year basis. Equities research analysts forecast that Regal Rexnord Co. will post 9.25 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend is Tuesday, December 31st. Regal Rexnord’s payout ratio is currently 44.16%.

Insider Buying and Selling at Regal Rexnord

In other news, CEO Louis V. Pinkham sold 8,774 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $180.03, for a total transaction of $1,579,583.22. Following the completion of the transaction, the chief executive officer now directly owns 149,618 shares in the company, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.82% of the company’s stock.

Regal Rexnord 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.