PEAK6 Investments LLC Invests $1.56 Million in Regal Rexnord Co. (NYSE:RRX)

PEAK6 Investments LLC bought a new position in shares of Regal Rexnord Co. (NYSE:RRX) in the third quarter, Holdings Channel reports. The firm bought 9,384 shares of the company’s stock, valued at approximately $1,557,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Headlands Technologies LLC purchased a new position in Regal Rexnord in the second quarter valued at about $46,000. 1620 Investment Advisors Inc. acquired a new stake in shares of Regal Rexnord in the second quarter valued at about $52,000. UMB Bank n.a. raised its holdings 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 buying an additional 145 shares during the period. GAMMA Investing LLC lifted its position in Regal Rexnord by 13.9% during the 2nd quarter. GAMMA Investing LLC now owns 647 shares of the company’s stock worth $87,000 after acquiring an additional 79 shares in the last quarter. Finally, CWM LLC boosted its holdings in Regal Rexnord by 25.4% in the 2nd quarter. CWM LLC now owns 825 shares of the company’s stock worth $112,000 after acquiring an additional 167 shares during the period. Institutional investors and hedge funds own 99.72% of the company’s stock.

Insider Activity

In related news, CEO Louis V. Pinkham sold 8,774 shares of the firm’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 sale, the chief executive officer now owns 149,618 shares of the company’s stock, valued at approximately $26,935,728.54. This trade represents a 5.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.82% of the company’s stock.

Regal Rexnord Stock Up 1.1 %

Shares of Regal Rexnord stock opened at $174.62 on Tuesday. The business has a 50-day moving average price of $170.97 and a 200 day moving average price of $157.68. Regal Rexnord Co. has a fifty-two week low of $122.49 and a fifty-two week high of $185.28. The firm has a market cap of $11.56 billion, a P/E ratio of 55.09, a P/E/G ratio of 1.87 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 results on Monday, November 4th. The company reported $2.49 earnings per share 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 the consensus estimate of $1.53 billion. During the same period in the previous year, the business earned $2.10 EPS. The business’s quarterly revenue was down 10.4% on a year-over-year basis. On average, sell-side analysts forecast that Regal Rexnord Co. will post 9.25 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.80%. Regal Rexnord’s payout ratio is currently 44.16%.

Analyst Ratings Changes

A number of research firms have recently commented on RRX. Loop Capital reissued 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 upgraded shares of Regal Rexnord from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th. Robert W. Baird decreased their price objective on shares of 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 began 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. Finally, Barclays increased their price target on Regal Rexnord from $180.00 to $190.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Regal Rexnord currently has a consensus rating of “Moderate Buy” and an average target price of $193.00.

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.