Westfield Capital Management Co. LP lessened its stake in Regal Rexnord Corporation (NYSE:RRX – Free Report) by 26.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 893,100 shares of the company’s stock after selling 328,630 shares during the period. Westfield Capital Management Co. LP owned about 1.35% of Regal Rexnord worth $125,320,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Victory Capital Management Inc. increased its holdings in Regal Rexnord by 138.4% in the 3rd quarter. Victory Capital Management Inc. now owns 3,968,101 shares of the company’s stock valued at $566,981,000 after purchasing an additional 2,303,373 shares during the last quarter. Viking Global Investors LP increased its holdings in Regal Rexnord by 25.7% in the 2nd quarter. Viking Global Investors LP now owns 3,430,128 shares of the company’s stock valued at $497,231,000 after purchasing an additional 701,145 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Regal Rexnord by 14.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,398,921 shares of the company’s stock valued at $344,103,000 after purchasing an additional 303,378 shares during the last quarter. Invesco Ltd. grew its stake in shares of Regal Rexnord by 17.7% in the third quarter. Invesco Ltd. now owns 1,500,000 shares of the company’s stock worth $215,160,000 after acquiring an additional 225,734 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Regal Rexnord by 4.7% in the fourth quarter. Geode Capital Management LLC now owns 1,231,262 shares of the company’s stock worth $172,806,000 after acquiring an additional 55,797 shares in the last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.
Insider Transactions at Regal Rexnord
In other news, CFO Robert Rehard sold 6,499 shares of Regal Rexnord stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $200.00, for a total transaction of $1,299,800.00. Following the completion of the sale, the chief financial officer directly owned 27,965 shares of the company’s stock, valued at approximately $5,593,000. The trade was a 18.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Louis V. Pinkham sold 22,509 shares of Regal Rexnord stock in a transaction on Monday, May 11th. The stock was sold at an average price of $211.68, for a total transaction of $4,764,705.12. Following the sale, the chief executive officer directly owned 56,749 shares of the company’s stock, valued at approximately $12,012,628.32. This trade represents a 28.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 30,305 shares of company stock valued at $6,341,869. Insiders own 0.63% of the company’s stock.
Analysts Set New Price Targets
View Our Latest Stock Report on RRX
Regal Rexnord Price Performance
Regal Rexnord stock opened at $214.17 on Friday. The stock has a market cap of $14.26 billion, a P/E ratio of 49.81, a price-to-earnings-growth ratio of 2.03 and a beta of 1.11. The company has a fifty day simple moving average of $202.66 and a 200-day simple moving average of $181.50. Regal Rexnord Corporation has a 12-month low of $127.96 and a 12-month high of $236.35. The company has a current ratio of 2.17, a quick ratio of 1.08 and a debt-to-equity ratio of 0.69.
Regal Rexnord (NYSE:RRX – Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.11 by $0.06. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Regal Rexnord had a net margin of 4.78% and a return on equity of 9.49%. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.15 EPS. Equities analysts expect that Regal Rexnord Corporation will post 10.63 EPS for the current fiscal year.
Regal Rexnord Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, June 30th. Regal Rexnord’s payout ratio is 32.56%.
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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