Regal Rexnord Co. (NYSE:RRX) Shares Bought by Hantz Financial Services Inc.

Hantz Financial Services Inc. grew its holdings in shares of Regal Rexnord Co. (NYSE:RRX) by 4.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 104,273 shares of the company’s stock after purchasing an additional 4,157 shares during the period. Hantz Financial Services Inc. owned approximately 0.16% of Regal Rexnord worth $16,176,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Point72 Asset Management L.P. acquired a new stake in shares of Regal Rexnord during the third quarter worth $83,460,000. Westfield Capital Management Co. LP raised its holdings in Regal Rexnord by 68.9% during the 3rd quarter. Westfield Capital Management Co. LP now owns 979,521 shares of the company’s stock worth $162,483,000 after buying an additional 399,649 shares during the period. Millennium Management LLC lifted its stake in Regal Rexnord by 1,108.9% during the second quarter. Millennium Management LLC now owns 96,819 shares of the company’s stock valued at $13,092,000 after buying an additional 88,810 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Regal Rexnord by 6.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,289,917 shares of the company’s stock worth $213,971,000 after buying an additional 83,823 shares during the period. Finally, Franklin Resources Inc. increased its position in shares of Regal Rexnord by 7.2% in the third quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company’s stock worth $204,254,000 after acquiring an additional 77,215 shares in the last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.

Wall Street Analyst Weigh In

RRX has been the subject of a number of recent analyst reports. Barclays decreased their price objective on shares of Regal Rexnord from $205.00 to $190.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. The Goldman Sachs Group raised their target price on Regal Rexnord from $191.00 to $213.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. 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 research report on Wednesday, November 6th. Citigroup decreased their price target on shares of Regal Rexnord from $210.00 to $190.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Finally, StockNews.com lowered shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 16th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $202.00.

Regal Rexnord Price Performance

NYSE RRX opened at $160.90 on Wednesday. The company has a 50 day moving average price of $163.06 and a two-hundred day moving average price of $162.88. Regal Rexnord Co. has a 12-month low of $130.94 and a 12-month high of $185.28. The stock has a market capitalization of $10.66 billion, a PE ratio of 50.76, a price-to-earnings-growth ratio of 1.57 and a beta of 1.04. The company has a quick ratio of 1.35, a current ratio of 2.45 and a debt-to-equity ratio of 0.87.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings data on Monday, November 4th. The company reported $2.49 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same period in the prior year, the company posted $2.10 earnings per share. Regal Rexnord’s revenue for the quarter was down 10.4% on a year-over-year basis. As a group, equities analysts predict that Regal Rexnord Co. will post 9.24 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.40 annualized dividend and a yield of 0.87%. Regal Rexnord’s dividend payout ratio (DPR) is presently 44.16%.

Insider Activity

In related news, CEO Louis V. Pinkham sold 8,774 shares of the business’s stock in a transaction dated 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 owns 149,618 shares of the company’s stock, valued at approximately $26,935,728.54. The trade was a 5.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.82% of the company’s stock.

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.