Private Advisor Group LLC acquired a new stake in shares of Regal Rexnord Corporation (NYSE:RRX – Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,113 shares of the company’s stock, valued at approximately $583,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. AQR Capital Management LLC boosted its position in Regal Rexnord by 208.1% during the 1st quarter. AQR Capital Management LLC now owns 17,747 shares of the company’s stock valued at $2,011,000 after purchasing an additional 11,987 shares during the period. Jones Financial Companies Lllp lifted its holdings in shares of Regal Rexnord by 91.6% during the first quarter. Jones Financial Companies Lllp now owns 617 shares of the company’s stock valued at $70,000 after purchasing an additional 295 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in Regal Rexnord by 135.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock worth $25,000 after purchasing an additional 127 shares during the period. Cetera Investment Advisers increased its holdings in shares of Regal Rexnord by 6.7% in the 2nd quarter. Cetera Investment Advisers now owns 3,116 shares of the company’s stock valued at $452,000 after purchasing an additional 196 shares during the period. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of Regal Rexnord during the 2nd quarter worth about $4,759,000. 99.72% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on RRX shares. UBS Group set a $260.00 target price on shares of Regal Rexnord in a research report on Monday, June 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Regal Rexnord in a research note on Tuesday, April 21st. Wolfe Research set a $250.00 price objective on shares of Regal Rexnord in a report on Thursday, July 9th. JPMorgan Chase & Co. upped their target price on Regal Rexnord from $230.00 to $240.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Finally, Wall Street Zen raised Regal Rexnord from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 4th. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $243.45.
Insider Buying and Selling at Regal Rexnord
In other Regal Rexnord news, CFO Robert Rehard sold 6,499 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $200.00, for a total value of $1,299,800.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Robin A. Walker-Lee sold 1,297 shares of the business’s 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 sale, the director owned 5,503 shares in the company, valued at $1,176,816.55. This represents a 19.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 30,305 shares of company stock worth $6,341,869 over the last quarter. Corporate insiders own 0.63% of the company’s stock.
Regal Rexnord Stock Up 1.1%
RRX stock opened at $213.62 on Thursday. The business has a 50-day simple moving average of $211.79 and a 200 day simple moving average of $196.73. Regal Rexnord Corporation has a 52 week low of $127.96 and a 52 week high of $247.80. The company has a quick ratio of 1.08, a current ratio of 2.17 and a debt-to-equity ratio of 0.69. The company has a market cap of $14.22 billion, a PE ratio of 49.68, a price-to-earnings-growth ratio of 1.98 and a beta of 1.08.
Regal Rexnord (NYSE:RRX – Get Free Report) last posted its quarterly earnings results 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. Regal Rexnord had a net margin of 4.78% and a return on equity of 9.49%. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same quarter last year, the business posted $2.15 EPS. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. Sell-side analysts anticipate that Regal Rexnord Corporation will post 10.64 EPS for the current fiscal year.
Regal Rexnord Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th were issued a $0.35 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.7%. Regal Rexnord’s dividend 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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