Regal Rexnord Corporation $RRX Position Decreased by Systematic Financial Management LP

Systematic Financial Management LP lowered its holdings in Regal Rexnord Corporation (NYSE:RRX) by 2.4% during the 1st quarter, HoldingsChannel.com reports. The firm owned 193,791 shares of the company’s stock after selling 4,773 shares during the quarter. Systematic Financial Management LP’s holdings in Regal Rexnord were worth $36,290,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Sei Investments Co. lifted its stake in Regal Rexnord by 18.5% during the first quarter. Sei Investments Co. now owns 150,101 shares of the company’s stock valued at $28,108,000 after purchasing an additional 23,447 shares during the last quarter. Levin Capital Strategies L.P. acquired a new position in Regal Rexnord in the first quarter worth approximately $15,349,000. Parallel Advisors LLC increased its holdings in shares of Regal Rexnord by 5.6% in the first quarter. Parallel Advisors LLC now owns 938 shares of the company’s stock valued at $176,000 after buying an additional 50 shares in the last quarter. Swiss National Bank increased its holdings in shares of Regal Rexnord by 0.3% in the first quarter. Swiss National Bank now owns 124,717 shares of the company’s stock valued at $23,355,000 after buying an additional 400 shares in the last quarter. Finally, Jennison Associates LLC lifted its position in shares of Regal Rexnord by 22.8% during the 1st quarter. Jennison Associates LLC now owns 363,118 shares of the company’s stock valued at $67,997,000 after acquiring an additional 67,333 shares during the last quarter. 99.72% of the stock is currently owned by institutional investors.

Regal Rexnord Trading Down 0.4%

Regal Rexnord stock opened at $213.95 on Friday. Regal Rexnord Corporation has a 52 week low of $127.96 and a 52 week high of $247.80. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.08 and a current ratio of 2.17. The firm has a market capitalization of $14.24 billion, a price-to-earnings ratio of 49.76, a P/E/G ratio of 2.02 and a beta of 1.08. The company has a 50 day moving average price of $212.02 and a 200 day moving average price of $199.61.

Regal Rexnord (NYSE:RRX) last announced its earnings results on Thursday, May 7th. The company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.11 by $0.06. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate 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 was up 4.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.15 EPS. Research analysts forecast that Regal Rexnord Corporation will post 10.64 EPS for the current year.

Regal Rexnord Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 14th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.35 per share. The ex-dividend date is Wednesday, September 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.7%. Regal Rexnord’s payout ratio is currently 32.56%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on RRX shares. DA Davidson assumed coverage on Regal Rexnord in a research note on Tuesday, June 16th. They set a “buy” rating and a $260.00 price objective for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Regal Rexnord in a report on Friday, July 17th. Citigroup increased their price target on Regal Rexnord from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. JPMorgan Chase & Co. lifted their price target on Regal Rexnord from $230.00 to $240.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. Finally, Oppenheimer reissued an “outperform” rating on shares of Regal Rexnord in a research note on Friday, July 10th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $247.00.

Insider Activity at Regal Rexnord

In related news, CEO Louis V. Pinkham sold 22,509 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $211.68, for a total value of $4,764,705.12. Following the completion of the sale, the chief executive officer directly owned 56,749 shares of the company’s stock, valued at approximately $12,012,628.32. This represents a 28.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Robert Rehard sold 6,499 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was 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 of the company’s stock, valued at $5,593,000. The trade was a 18.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 30,305 shares of company stock valued at $6,341,869. 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.