Janus Henderson Group PLC Increases Stock Holdings in Regal Rexnord Corporation $RRX

Janus Henderson Group PLC raised its position in Regal Rexnord Corporation (NYSE:RRX) by 362.4% in the 1st quarter, HoldingsChannel.com reports. The fund owned 127,677 shares of the company’s stock after acquiring an additional 100,067 shares during the quarter. Janus Henderson Group PLC’s holdings in Regal Rexnord were worth $23,911,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Covestor Ltd grew its holdings in shares of Regal Rexnord by 81.6% in the fourth quarter. Covestor Ltd now owns 178 shares of the company’s stock valued at $25,000 after purchasing an additional 80 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in 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 buying an additional 127 shares in the last quarter. Garner Asset Management Corp purchased a new position in Regal Rexnord in the 4th quarter valued at approximately $27,000. IFP Advisors Inc increased its position in shares of Regal Rexnord by 34.0% during the fourth quarter. IFP Advisors Inc now owns 193 shares of the company’s stock worth $27,000 after acquiring an additional 49 shares during the period. Finally, Advisory Services Network LLC acquired a new stake in shares of Regal Rexnord in the third quarter valued at $35,000. Institutional investors and hedge funds own 99.72% of the company’s stock.

Regal Rexnord Stock Up 2.8%

RRX stock opened at $211.05 on Tuesday. The stock has a market cap of $14.05 billion, a P/E ratio of 49.08, a PEG ratio of 1.36 and a beta of 1.09. 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 Corporation has a twelve month low of $127.96 and a twelve month high of $247.80. The company’s 50 day moving average is $213.38 and its two-hundred day moving average is $202.17.

Regal Rexnord (NYSE:RRX) last issued 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. 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 during the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the prior year, the business posted $2.15 EPS. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. Research analysts expect that Regal Rexnord Corporation will post 10.65 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 14th. Shareholders of record on Wednesday, September 30th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.7%. The ex-dividend date is Wednesday, September 30th. Regal Rexnord’s dividend payout ratio is currently 32.56%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on RRX shares. Weiss Ratings restated a “hold (c)” rating on shares of Regal Rexnord in a report on Friday, July 17th. Deutsche Bank Aktiengesellschaft began coverage on Regal Rexnord in a research note on Monday, July 20th. They issued a “buy” rating and a $286.00 price objective for the company. UBS Group set a $260.00 target price on shares of Regal Rexnord in a research note on Monday, June 15th. Citigroup raised their target price on shares of Regal Rexnord from $240.00 to $260.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Finally, DA Davidson started coverage on shares of Regal Rexnord in a report on Tuesday, June 16th. They set a “buy” rating and a $260.00 price target for the company. Eight 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, Regal Rexnord currently has a consensus rating of “Moderate Buy” and a consensus price target of $247.00.

Insiders Place Their Bets

In other Regal Rexnord news, Director Robin A. Walker-Lee sold 1,297 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $213.85, for a total transaction of $277,363.45. Following the transaction, the director owned 5,503 shares of the company’s stock, valued at approximately $1,176,816.55. This trade represents a 19.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Louis V. Pinkham sold 22,509 shares of Regal Rexnord 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 sale, the chief executive officer owned 56,749 shares in the company, valued at $12,012,628.32. This trade represents a 28.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 30,305 shares of company stock valued at $6,341,869. 0.63% of the stock is currently owned by insiders.

About Regal Rexnord

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.