GMT Capital Corp bought a new position in shares of Regal Rexnord Corporation (NYSE:RRX – Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 64,333 shares of the company’s stock, valued at approximately $9,027,000. Regal Rexnord makes up 0.5% of GMT Capital Corp’s investment portfolio, making the stock its 21st biggest holding. GMT Capital Corp owned 0.10% of Regal Rexnord as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. AIA Group Ltd bought a new stake in Regal Rexnord during the 3rd quarter worth approximately $1,477,000. American Century Companies Inc. bought a new stake in Regal Rexnord during the 3rd quarter worth approximately $47,778,000. Teachers Retirement System of The State of Kentucky increased its stake in Regal Rexnord by 55.2% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 124,005 shares of the company’s stock worth $17,788,000 after purchasing an additional 44,100 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Regal Rexnord by 97.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 260,853 shares of the company’s stock worth $37,419,000 after purchasing an additional 128,468 shares in the last quarter. Finally, Regents Gate Capital LLP bought a new stake in Regal Rexnord during the 3rd quarter worth approximately $2,540,000. 99.72% of the stock is owned by institutional investors.
Regal Rexnord Trading Up 0.6%
Shares of Regal Rexnord stock opened at $212.51 on Friday. The business has a fifty day simple moving average of $205.28 and a two-hundred day simple moving average of $184.40. Regal Rexnord Corporation has a 1 year low of $127.96 and a 1 year high of $236.35. The company has a market capitalization of $14.15 billion, a price-to-earnings ratio of 49.42, a P/E/G ratio of 2.00 and a beta of 1.11. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.17 and a quick ratio of 1.08.
Regal Rexnord Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.35 per share. The ex-dividend date is Tuesday, June 30th. This represents a $1.40 annualized dividend and a yield of 0.7%. Regal Rexnord’s dividend payout ratio (DPR) is presently 32.56%.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Regal Rexnord in a research note on Tuesday, April 21st. Citigroup raised their price target on shares of Regal Rexnord from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Monday, April 13th. KeyCorp raised their price target on shares of Regal Rexnord from $255.00 to $265.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Wall Street Zen cut shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, April 28th. Finally, Barclays raised their price target on shares of Regal Rexnord from $237.00 to $245.00 and gave the stock an “overweight” rating in a research note on Monday, March 23rd. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $232.25.
View Our Latest Stock Analysis on Regal Rexnord
Insiders Place Their Bets
In other Regal Rexnord news, CFO Robert Rehard sold 6,499 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $200.00, for a total transaction of $1,299,800.00. Following the transaction, the chief financial officer owned 27,965 shares in the company, valued at $5,593,000. This trade represents a 18.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robin A. Walker-Lee sold 1,297 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $213.85, for a total value of $277,363.45. Following the transaction, the director owned 5,503 shares in the company, valued at $1,176,816.55. The trade was a 19.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 30,305 shares of company stock worth $6,341,869 in the last 90 days. Company insiders own 0.63% of the company’s stock.
Regal Rexnord Profile
Regal Rexnord Corporation (NYSE: RRX) is a global industrial manufacturer specializing in electric motors, power generation equipment and automated motion control systems. The company designs, engineers and produces a broad portfolio of products that includes energy-efficient electric motors, variable frequency drives, gearboxes, couplings, bearings and power transmission components. These offerings support critical applications in industries such as heating, ventilation and air conditioning (HVAC), refrigeration, data centers, water treatment, food and beverage processing, mining, oil and gas, and material handling.
The company’s operations are organized into multiple business segments that address distinct customer needs.
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