Point72 Asia Singapore Pte. Ltd. Invests $255,000 in Regal Rexnord Co. (NYSE:RRX)

Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Regal Rexnord Co. (NYSE:RRX) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,537 shares of the company’s stock, valued at approximately $255,000.

Several other large investors have also added to or reduced their stakes in RRX. CIBC Asset Management Inc boosted its holdings in shares of Regal Rexnord by 3.2% during the 3rd quarter. CIBC Asset Management Inc now owns 1,960 shares of the company’s stock worth $325,000 after buying an additional 61 shares in the last quarter. Hengehold Capital Management LLC lifted its position in shares of Regal Rexnord by 1.5% during the 3rd quarter. Hengehold Capital Management LLC now owns 4,315 shares of the company’s stock valued at $716,000 after acquiring an additional 65 shares during the period. 1620 Investment Advisors Inc. boosted its stake in Regal Rexnord by 17.4% during the third quarter. 1620 Investment Advisors Inc. now owns 452 shares of the company’s stock worth $75,000 after acquiring an additional 67 shares in the last quarter. GAMMA Investing LLC grew its holdings in Regal Rexnord by 13.9% in the second quarter. GAMMA Investing LLC now owns 647 shares of the company’s stock worth $87,000 after purchasing an additional 79 shares during the period. Finally, Nisa Investment Advisors LLC increased its stake in Regal Rexnord by 2.7% in the third quarter. Nisa Investment Advisors LLC now owns 3,616 shares of the company’s stock valued at $601,000 after purchasing an additional 95 shares in the last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.

Insider Buying and Selling at Regal Rexnord

In related news, CEO Louis V. Pinkham sold 8,774 shares of the stock in a transaction dated Thursday, November 7th. The shares were 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 owns 149,618 shares in the company, valued at approximately $26,935,728.54. This represents a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.82% of the company’s stock.

Analyst Ratings Changes

RRX has been the subject of several research reports. Barclays raised their target price on Regal Rexnord from $180.00 to $190.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Robert W. Baird decreased their price objective on Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Citigroup assumed coverage on Regal Rexnord in a research report on Monday, October 14th. They set a “buy” rating and a $200.00 target price on the stock. Loop Capital reissued a “buy” rating and issued a $200.00 price target on shares of Regal Rexnord in a research report on Thursday, September 19th. Finally, StockNews.com upgraded shares of Regal Rexnord from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Regal Rexnord currently has a consensus rating of “Moderate Buy” and an average price target of $193.00.

Regal Rexnord Stock Performance

NYSE RRX opened at $174.92 on Wednesday. Regal Rexnord Co. has a 1 year low of $122.49 and a 1 year high of $185.28. The firm has a market cap of $11.58 billion, a price-to-earnings ratio of 55.18, a PEG ratio of 1.89 and a beta of 1.03. The company has a fifty day moving average price of $171.10 and a 200-day moving average price of $157.79. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.45 and a quick ratio of 1.35.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings data on Monday, November 4th. The company reported $2.49 EPS for the quarter, beating the consensus estimate of $2.48 by $0.01. Regal Rexnord had a net margin of 3.41% and a return on equity of 9.48%. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter last year, the business posted $2.10 EPS. The company’s revenue for the quarter was down 10.4% on a year-over-year basis. As a group, equities research analysts predict that Regal Rexnord Co. will post 9.25 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st will be given a $0.35 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.40 annualized dividend and a yield of 0.80%. Regal Rexnord’s dividend payout ratio is currently 44.16%.

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.