HighTower Advisors LLC Has $5.55 Million Position in Regal Rexnord Corporation $RRX

HighTower Advisors LLC increased its holdings in shares of Regal Rexnord Corporation (NYSE:RRX) by 6.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 38,663 shares of the company’s stock after acquiring an additional 2,311 shares during the period. HighTower Advisors LLC’s holdings in Regal Rexnord were worth $5,546,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. 1620 Investment Advisors Inc. increased its stake in shares of Regal Rexnord by 8.6% in the 3rd quarter. 1620 Investment Advisors Inc. now owns 944 shares of the company’s stock valued at $135,000 after acquiring an additional 75 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in shares of Regal Rexnord by 35.3% during the 2nd quarter. Geneos Wealth Management Inc. now owns 299 shares of the company’s stock worth $43,000 after purchasing an additional 78 shares in the last quarter. UMB Bank n.a. raised its stake in Regal Rexnord by 8.9% during the 3rd quarter. UMB Bank n.a. now owns 963 shares of the company’s stock worth $138,000 after buying an additional 79 shares during the period. Allworth Financial LP boosted its holdings in Regal Rexnord by 85.7% in the second quarter. Allworth Financial LP now owns 195 shares of the company’s stock worth $28,000 after acquiring an additional 90 shares in the last quarter. Finally, SJS Investment Consulting Inc. grew its stake in Regal Rexnord by 95.1% in the third quarter. SJS Investment Consulting Inc. now owns 199 shares of the company’s stock valued at $29,000 after acquiring an additional 97 shares during the period. 99.72% of the stock is currently owned by institutional investors.

Regal Rexnord Stock Up 1.2%

Shares of NYSE:RRX opened at $218.02 on Tuesday. Regal Rexnord Corporation has a 1 year low of $90.56 and a 1 year high of $229.30. The company has a market capitalization of $14.47 billion, a PE ratio of 51.91, a price-to-earnings-growth ratio of 2.00 and a beta of 1.13. The business has a fifty day moving average price of $169.10 and a two-hundred day moving average price of $152.53. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.15 and a quick ratio of 1.10.

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

Regal Rexnord Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 31st will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Tuesday, March 31st. Regal Rexnord’s dividend payout ratio is 33.33%.

Analyst Ratings Changes

Several analysts recently issued reports on RRX shares. JPMorgan Chase & Co. lifted their price target on shares of Regal Rexnord from $190.00 to $230.00 and gave the company an “overweight” rating in a research report on Friday, February 6th. Barclays boosted their target price on shares of Regal Rexnord from $165.00 to $237.00 and gave the stock an “overweight” rating in a research report on Monday, February 9th. Zacks Research upgraded shares of Regal Rexnord from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Regal Rexnord in a research report on Thursday, January 22nd. Finally, Citigroup boosted their price objective on Regal Rexnord from $180.00 to $230.00 and gave the stock a “buy” rating in a report on Monday, February 9th. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Regal Rexnord currently has a consensus rating of “Moderate Buy” and a consensus price target of $227.50.

Insider Transactions at Regal Rexnord

In other news, CFO Robert Rehard sold 7,704 shares of the business’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $216.72, for a total value of $1,669,610.88. Following the sale, the chief financial officer owned 34,154 shares of the company’s stock, valued at $7,401,854.88. The trade was a 18.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Cheryl Lewis sold 2,262 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The stock was 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 directly 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 51,194 shares of company stock valued at $10,883,211. Corporate insiders own 0.82% 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.