Robeco Institutional Asset Management B.V. Decreases Position in Regal Rexnord Corporation $RRX

Robeco Institutional Asset Management B.V. reduced its position in shares of Regal Rexnord Corporation (NYSE:RRX) by 13.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,294 shares of the company’s stock after selling 11,332 shares during the period. Robeco Institutional Asset Management B.V. owned 0.11% of Regal Rexnord worth $10,370,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Advisors Asset Management Inc. purchased a new stake in shares of Regal Rexnord during the first quarter worth approximately $185,000. AQR Capital Management LLC grew its holdings in shares of Regal Rexnord by 208.1% during the first quarter. AQR Capital Management LLC now owns 17,747 shares of the company’s stock worth $2,011,000 after buying an additional 11,987 shares in the last quarter. Millennium Management LLC raised its position in shares of Regal Rexnord by 3.9% in the first quarter. Millennium Management LLC now owns 251,126 shares of the company’s stock valued at $28,591,000 after buying an additional 9,414 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in shares of Regal Rexnord by 91.6% in the first quarter. Jones Financial Companies Lllp now owns 617 shares of the company’s stock worth $70,000 after buying an additional 295 shares in the last quarter. Finally, Woodline Partners LP acquired a new position in Regal Rexnord during the first quarter worth about $5,597,000. Institutional investors and hedge funds own 99.72% of the company’s stock.

Insider Transactions at Regal Rexnord

In other Regal Rexnord news, CEO Louis V. Pinkham sold 35,935 shares of the stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $146.20, for a total value of $5,253,697.00. Following the sale, the chief executive officer owned 103,262 shares of the company’s stock, valued at $15,096,904.40. This trade represents a 25.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.82% of the stock is owned by corporate insiders.

Regal Rexnord Price Performance

Shares of RRX opened at $152.65 on Friday. The company has a market cap of $10.13 billion, a P/E ratio of 39.44, a PEG ratio of 1.43 and a beta of 1.12. Regal Rexnord Corporation has a fifty-two week low of $90.56 and a fifty-two week high of $167.77. The company has a quick ratio of 0.97, a current ratio of 2.05 and a debt-to-equity ratio of 0.71. The firm’s 50 day moving average price is $142.45 and its 200 day moving average price is $145.23.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings results on Friday, September 8th. The company reported $2.76 EPS for the quarter. Regal Rexnord had a net margin of 4.38% and a return on equity of 9.64%. The company had revenue of $1.85 billion during the quarter. On average, research analysts forecast 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 Wednesday, January 14th. Shareholders of record on Wednesday, December 31st will be issued a dividend of $0.35 per share. The ex-dividend date is Wednesday, December 31st. This represents a $1.40 annualized dividend and a yield of 0.9%. Regal Rexnord’s dividend payout ratio is 36.18%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on RRX shares. Citigroup boosted their target price on Regal Rexnord from $175.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. KeyCorp cut their target price on Regal Rexnord from $180.00 to $170.00 and set an “overweight” rating for the company in a research note on Tuesday, October 14th. Jefferies Financial Group lowered shares of Regal Rexnord from a “buy” rating to a “hold” rating and dropped their price objective for the company from $170.00 to $160.00 in a report on Wednesday, December 10th. Barclays reaffirmed an “overweight” rating and set a $165.00 target price on shares of Regal Rexnord in a research note on Monday, November 3rd. Finally, Robert W. Baird set a $212.00 price target on shares of Regal Rexnord in a report on Friday, October 31st. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $179.63.

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.