Regal Rexnord Co. (NYSE:RRX) Stock Holdings Increased by Avior Wealth Management LLC

Avior Wealth Management LLC increased its holdings in Regal Rexnord Co. (NYSE:RRX) by 10,066.7% during the fourth quarter, Holdings Channel reports. The firm owned 1,830 shares of the company’s stock after purchasing an additional 1,812 shares during the period. Avior Wealth Management LLC’s holdings in Regal Rexnord were worth $271,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. FMR LLC raised its holdings in shares of Regal Rexnord by 2.1% in the 3rd quarter. FMR LLC now owns 8,978,384 shares of the company’s stock worth $1,282,831,000 after purchasing an additional 181,889 shares in the last quarter. Vanguard Group Inc. bought a new stake in shares of Regal Rexnord in the 1st quarter worth approximately $978,777,000. Capital World Investors bought a new stake in shares of Regal Rexnord in the 1st quarter worth approximately $793,975,000. Alliancebernstein L.P. raised its holdings in shares of Regal Rexnord by 2.9% in the 2nd quarter. Alliancebernstein L.P. now owns 1,902,028 shares of the company’s stock worth $292,722,000 after purchasing an additional 53,832 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Regal Rexnord by 0.9% in the 1st quarter. State Street Corp now owns 1,843,389 shares of the company’s stock worth $260,060,000 after purchasing an additional 17,123 shares in the last quarter. 99.72% of the stock is currently owned by institutional investors.

Regal Rexnord Price Performance

Shares of RRX opened at $159.72 on Friday. The company’s 50 day moving average price is $168.89 and its 200 day moving average price is $143.70. Regal Rexnord Co. has a 52 week low of $97.18 and a 52 week high of $183.85. The company has a quick ratio of 1.59, a current ratio of 2.55 and a debt-to-equity ratio of 1.00.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $2.28 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.02. Regal Rexnord had a negative net margin of 0.92% and a positive return on equity of 9.58%. The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same period in the previous year, the firm posted $2.64 earnings per share. The firm’s revenue was up 29.2% on a year-over-year basis. As a group, sell-side analysts forecast that Regal Rexnord Co. will post 10.05 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Thursday, March 28th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date was Wednesday, March 27th. Regal Rexnord’s payout ratio is presently -160.92%.

Analyst Upgrades and Downgrades

RRX has been the topic of a number of research reports. Barclays boosted their target price on shares of Regal Rexnord from $200.00 to $203.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. KeyCorp lifted their target price on shares of Regal Rexnord from $180.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, March 25th. Finally, Oppenheimer lifted their target price on shares of Regal Rexnord from $185.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 13th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $197.00.

Insider Activity at Regal Rexnord

In related news, EVP Thomas E. Valentyn sold 1,931 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $166.09, for a total transaction of $320,719.79. Following the transaction, the executive vice president now directly owns 27,180 shares of the company’s stock, valued at $4,514,326.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Regal Rexnord news, EVP Thomas E. Valentyn sold 1,931 shares of Regal Rexnord stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $166.09, for a total value of $320,719.79. Following the completion of the sale, the executive vice president now directly owns 27,180 shares in the company, valued at $4,514,326.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Thomas E. Valentyn sold 647 shares of Regal Rexnord stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $169.70, for a total transaction of $109,795.90. Following the completion of the sale, the executive vice president now owns 28,412 shares of the company’s stock, valued at $4,821,516.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,570 shares of company stock valued at $892,301. Corporate 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.