Regal Rexnord Corporation $RRX Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC trimmed its position in Regal Rexnord Corporation (NYSE:RRX) by 16.8% during the 1st quarter, Holdings Channel.com reports. The fund owned 15,783 shares of the company’s stock after selling 3,197 shares during the period. SG Americas Securities LLC’s holdings in Regal Rexnord were worth $2,956,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Covestor Ltd increased 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 during the period. Aster Capital Management DIFC Ltd purchased a new position in shares of Regal Rexnord in the third quarter worth about $27,000. Garner Asset Management Corp acquired a new stake in shares of Regal Rexnord during the fourth quarter worth about $27,000. IFP Advisors Inc boosted its position in Regal Rexnord by 34.0% in the fourth quarter. IFP Advisors Inc now owns 193 shares of the company’s stock valued at $27,000 after buying an additional 49 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its position in Regal Rexnord by 135.1% in the first quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock valued at $25,000 after buying an additional 127 shares during the last quarter. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Regal Rexnord Stock Up 8.3%

Regal Rexnord stock opened at $238.12 on Wednesday. The business’s 50-day moving average price is $211.57 and its 200 day moving average price is $191.34. The company has a quick ratio of 1.08, a current ratio of 2.17 and a debt-to-equity ratio of 0.69. The firm has a market cap of $15.85 billion, a price-to-earnings ratio of 55.38, a price-to-earnings-growth ratio of 2.07 and a beta of 1.11. Regal Rexnord Corporation has a 52 week low of $127.96 and a 52 week high of $239.00.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings results on Thursday, May 7th. The company reported $2.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.11 by $0.06. Regal Rexnord had a return on equity of 9.49% and a net margin of 4.78%.The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the previous year, the company posted $2.15 earnings per share. Regal Rexnord’s revenue for the quarter was up 4.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Regal Rexnord Corporation will post 10.64 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Tuesday, June 30th. Regal Rexnord’s payout ratio is 32.56%.

Insider Activity at Regal Rexnord

In related news, CFO Robert Rehard sold 6,499 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $200.00, for a total transaction of $1,299,800.00. Following the sale, the chief financial officer directly owned 27,965 shares of the company’s stock, valued at approximately $5,593,000. This represents a 18.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Robin A. Walker-Lee sold 1,297 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $213.85, for a total transaction of $277,363.45. Following the sale, the director directly owned 5,503 shares in the company, valued at $1,176,816.55. This trade represents a 19.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 30,305 shares of company stock worth $6,341,869 in the last three months. Company insiders own 0.63% of the company’s stock.

Wall Street Analysts Forecast Growth

RRX has been the subject of a number of recent research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Regal Rexnord in a research report on Tuesday, April 21st. KeyCorp upped their price objective on shares of Regal Rexnord from $255.00 to $265.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Wall Street Zen lowered shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, April 28th. Citigroup raised their target price on shares of Regal Rexnord from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Monday, April 13th. Finally, UBS Group set a $260.00 target price on shares of Regal Rexnord in a research report on Monday, June 15th. Seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Regal Rexnord currently has a consensus rating of “Moderate Buy” and a consensus target price of $237.80.

Regal Rexnord Company 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.