Dimensional Fund Advisors LP Boosts Stock Holdings in Regal Rexnord Corporation $RRX

Dimensional Fund Advisors LP raised its position in shares of Regal Rexnord Corporation (NYSE:RRX) by 14.5% in the third quarter, Holdings Channel.com reports. The fund owned 2,398,921 shares of the company’s stock after acquiring an additional 303,378 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Regal Rexnord were worth $344,103,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in RRX. Geneos Wealth Management Inc. increased its position in shares of Regal Rexnord by 135.1% during the first quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock worth $25,000 after purchasing an additional 127 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in Regal Rexnord during the 3rd quarter worth $27,000. Allworth Financial LP grew its holdings in shares of Regal Rexnord by 85.7% during the second quarter. Allworth Financial LP now owns 195 shares of the company’s stock worth $28,000 after buying an additional 90 shares in the last quarter. Root Financial Partners LLC acquired a new stake in shares of Regal Rexnord in the third quarter valued at about $28,000. Finally, SJS Investment Consulting Inc. lifted its stake in shares of Regal Rexnord by 95.1% in 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 in the last quarter. 99.72% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Regal Rexnord

In related news, EVP Cheryl Lewis sold 2,262 shares of the stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $215.73, for a total transaction of $487,981.26. Following the completion of the transaction, the executive vice president owned 13,219 shares of the company’s stock, valued at approximately $2,851,734.87. This trade represents a 14.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Robert Rehard sold 7,704 shares of Regal Rexnord stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $216.72, for a total transaction of $1,669,610.88. Following the completion of the sale, the chief financial officer owned 34,154 shares of the company’s stock, valued at $7,401,854.88. This trade represents a 18.41% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 53,451 shares of company stock worth $11,386,689. 0.82% of the stock is owned by corporate insiders.

Regal Rexnord Stock Down 5.2%

RRX stock opened at $198.64 on Friday. Regal Rexnord Corporation has a one year low of $90.56 and a one year high of $229.30. The firm has a market cap of $13.21 billion, a PE ratio of 47.30, a PEG ratio of 1.95 and a beta of 1.05. The firm’s 50 day moving average price is $180.81 and its 200-day moving average price is $156.39. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.10 and a current ratio of 2.15.

Regal Rexnord (NYSE:RRX) last posted its earnings results on Thursday, February 5th. The company reported $2.51 EPS 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 company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the previous year, the business earned $2.34 earnings per share. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, equities research analysts anticipate that Regal Rexnord Corporation will post 9.95 EPS for the current year.

Regal Rexnord Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 31st will be given a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $1.40 dividend on an annualized basis and a yield of 0.7%. Regal Rexnord’s dividend payout ratio is presently 33.33%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on RRX. JPMorgan Chase & Co. boosted their price target on shares of Regal Rexnord from $190.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, February 6th. KeyCorp boosted their target price on Regal Rexnord from $200.00 to $255.00 and gave the stock an “overweight” rating in a report on Tuesday, February 10th. Robert W. Baird set a $253.00 price target on Regal Rexnord in a report on Friday, February 6th. Zacks Research upgraded Regal Rexnord from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 30th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Regal Rexnord in a report on Thursday, January 22nd. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $227.50.

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.