Erste Asset Management GmbH Raises Holdings in Regal Rexnord Corporation $RRX

Erste Asset Management GmbH raised its position in shares of Regal Rexnord Corporation (NYSE:RRX) by 396.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 47,943 shares of the company’s stock after acquiring an additional 38,288 shares during the period. Erste Asset Management GmbH’s holdings in Regal Rexnord were worth $6,922,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of RRX. Geneos Wealth Management Inc. grew its holdings in shares of Regal Rexnord by 135.1% during 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. Allworth Financial LP lifted its position in Regal Rexnord by 85.7% during the second quarter. Allworth Financial LP now owns 195 shares of the company’s stock valued at $28,000 after buying an additional 90 shares in the last quarter. Root Financial Partners LLC acquired a new position in Regal Rexnord during the third quarter valued at approximately $28,000. SJS Investment Consulting Inc. grew its stake in Regal Rexnord by 95.1% during the third quarter. SJS Investment Consulting Inc. now owns 199 shares of the company’s stock worth $29,000 after buying an additional 97 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in shares of Regal Rexnord by 42.5% in the third quarter. EverSource Wealth Advisors LLC now owns 265 shares of the company’s stock worth $38,000 after acquiring an additional 79 shares in the last quarter. 99.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Regal Rexnord

In other news, CEO Louis V. Pinkham sold 36,728 shares of the business’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $215.52, for a total value of $7,915,618.56. Following the completion of the sale, the chief executive officer owned 83,337 shares of the company’s stock, valued at approximately $17,960,790.24. The trade was a 30.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Cheryl Lewis sold 2,262 shares of the stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $215.73, for a total transaction of $487,981.26. Following the transaction, the executive vice president directly owned 13,219 shares in the company, valued at $2,851,734.87. The trade was a 14.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 53,451 shares of company stock valued at $11,386,689. Insiders own 0.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on RRX. Weiss Ratings restated a “hold (c)” rating on shares of Regal Rexnord in a report on Thursday, January 22nd. KeyCorp boosted their price objective on Regal Rexnord from $200.00 to $255.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 10th. Oppenheimer increased their target price on Regal Rexnord from $180.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. Jefferies Financial Group lowered Regal Rexnord from a “buy” rating to a “hold” rating and reduced their price target for the stock from $170.00 to $160.00 in a research report on Wednesday, December 10th. Finally, The Goldman Sachs Group upped their price target on Regal Rexnord from $170.00 to $230.00 and gave the stock a “buy” rating in a report on Monday, February 9th. Seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Regal Rexnord presently has an average rating of “Moderate Buy” and an average target price of $227.50.

Regal Rexnord Trading Up 0.0%

NYSE:RRX opened at $220.86 on Friday. The stock has a market cap of $14.69 billion, a price-to-earnings ratio of 52.59, a price-to-earnings-growth ratio of 2.05 and a beta of 1.13. Regal Rexnord Corporation has a one year low of $90.56 and a one year high of $229.30. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.10 and a current ratio of 2.15. The business’s 50-day simple moving average is $175.47 and its 200 day simple moving average is $154.64.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings data on Thursday, February 5th. The company reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. Regal Rexnord had a return on equity of 9.60% and a net margin of 4.71%.The firm had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same quarter last year, the firm earned $2.34 EPS. Regal Rexnord’s quarterly revenue was up 4.3% on a year-over-year basis. As a group, sell-side analysts predict that Regal Rexnord Corporation will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 14th. Investors of record on Tuesday, March 31st will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Tuesday, March 31st. Regal Rexnord’s payout ratio is 33.33%.

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.