First Hawaiian Bank Invests $811,000 in Regal Rexnord Co. (NYSE:RRX)

First Hawaiian Bank bought a new stake in Regal Rexnord Co. (NYSE:RRX - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,230 shares of the company's stock, valued at approximately $811,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. bought a new position in Regal Rexnord during the third quarter valued at approximately $83,460,000. Westfield Capital Management Co. LP raised its position in Regal Rexnord by 68.9% in the 3rd quarter. Westfield Capital Management Co. LP now owns 979,521 shares of the company's stock worth $162,483,000 after purchasing an additional 399,649 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Regal Rexnord by 24.7% in the second quarter. The Manufacturers Life Insurance Company now owns 1,125,445 shares of the company's stock worth $152,183,000 after purchasing an additional 222,775 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its position in Regal Rexnord by 7.1% during the second quarter. Diamond Hill Capital Management Inc. now owns 3,181,886 shares of the company's stock valued at $430,255,000 after buying an additional 209,776 shares during the period. Finally, Forest Avenue Capital Management LP grew its stake in shares of Regal Rexnord by 63.8% during the second quarter. Forest Avenue Capital Management LP now owns 262,910 shares of the company's stock valued at $35,551,000 after buying an additional 102,412 shares during the last quarter. Institutional investors own 99.72% of the company's stock.

Insider Transactions at Regal Rexnord

In other Regal Rexnord news, CEO Louis V. Pinkham sold 8,774 shares of Regal Rexnord stock in a transaction on 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 in the company, valued at approximately $26,935,728.54. The trade was a 5.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.82% of the company's stock.

Regal Rexnord Trading Down 3.8 %

Shares of NYSE RRX traded down $5.83 during midday trading on Friday, hitting $149.36. 573,740 shares of the company traded hands, compared to its average volume of 494,323. Regal Rexnord Co. has a 12-month low of $130.94 and a 12-month high of $185.28. The firm has a market cap of $9.89 billion, a P/E ratio of 47.12, a P/E/G ratio of 1.83 and a beta of 1.04. The stock has a 50-day moving average price of $166.31 and a 200 day moving average price of $160.56. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.35 and a current ratio of 2.45.

Regal Rexnord (NYSE:RRX - Get Free Report) last posted its earnings results on Monday, November 4th. The company reported $2.49 earnings per share for the quarter, topping analysts' consensus estimates of $2.48 by $0.01. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.53 billion. Regal Rexnord had a return on equity of 9.48% and a net margin of 3.41%. During the same quarter in the prior year, the business earned $2.10 EPS. The business's revenue for the quarter was down 10.4% on a year-over-year basis. As a group, analysts expect that Regal Rexnord Co. will post 9.24 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date of this dividend is Tuesday, December 31st. Regal Rexnord's dividend payout ratio (DPR) is presently 44.16%.

Analyst Ratings Changes

Several research firms recently issued reports on RRX. StockNews.com upgraded Regal Rexnord from a "buy" rating to a "strong-buy" rating in a research report on Wednesday. Jefferies Financial Group initiated coverage on shares of Regal Rexnord in a research note on Thursday, December 12th. They issued a "buy" rating and a $215.00 target price on the stock. Barclays cut their price target on shares of Regal Rexnord from $205.00 to $190.00 and set an "overweight" rating on the stock in a report on Wednesday. Robert W. Baird decreased their price objective on shares of Regal Rexnord from $223.00 to $208.00 and set an "outperform" rating on the stock in a research report on Wednesday, November 6th. Finally, Citigroup began coverage on shares of Regal Rexnord in a report on Monday, October 14th. They set a "buy" rating and a $200.00 target price for the company. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $203.25.

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.