Regents Gate Capital LLP Trims Stock Holdings in Regal Rexnord Corporation $RRX

Regents Gate Capital LLP lessened its stake in shares of Regal Rexnord Corporation (NYSE:RRX) by 77.5% in the fourth quarter, HoldingsChannel reports. The firm owned 3,977 shares of the company’s stock after selling 13,732 shares during the quarter. Regents Gate Capital LLP’s holdings in Regal Rexnord were worth $558,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. AQR Capital Management LLC grew its position in Regal Rexnord by 208.1% during the first quarter. AQR Capital Management LLC now owns 17,747 shares of the company’s stock valued at $2,011,000 after acquiring an additional 11,987 shares during the period. Jones Financial Companies Lllp raised its holdings in shares of Regal Rexnord by 91.6% in the 1st quarter. Jones Financial Companies Lllp now owns 617 shares of the company’s stock worth $70,000 after purchasing an additional 295 shares during the period. Geneos Wealth Management Inc. lifted its stake in shares of Regal Rexnord by 135.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock valued at $25,000 after purchasing an additional 127 shares in the last quarter. Cetera Investment Advisers lifted its stake in shares of Regal Rexnord by 6.7% in the 2nd quarter. Cetera Investment Advisers now owns 3,116 shares of the company’s stock valued at $452,000 after purchasing an additional 196 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of Regal Rexnord during the 2nd quarter worth about $4,759,000. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Insider Transactions at Regal Rexnord

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

Regal Rexnord Stock Up 5.3%

NYSE RRX opened at $211.05 on Friday. The company has a quick ratio of 1.08, a current ratio of 2.17 and a debt-to-equity ratio of 0.69. Regal Rexnord Corporation has a fifty-two week low of $127.96 and a fifty-two week high of $236.35. The business has a 50 day moving average price of $204.86 and a two-hundred day moving average price of $184.20. The stock has a market cap of $14.05 billion, a PE ratio of 49.08, a P/E/G ratio of 1.89 and a beta of 1.11.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings data 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. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.43 billion. Regal Rexnord had a net margin of 4.78% and a return on equity of 9.49%. The business’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.15 earnings per share. As a group, sell-side analysts predict that Regal Rexnord Corporation will post 10.63 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 30th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, June 30th. Regal Rexnord’s dividend payout ratio (DPR) is 32.56%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Regal Rexnord in a research report on Tuesday, April 21st. KeyCorp boosted their price objective on shares of Regal Rexnord from $255.00 to $265.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Wall Street Zen downgraded shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, April 28th. JPMorgan Chase & Co. lifted their target price on shares of Regal Rexnord from $230.00 to $240.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Finally, Citigroup upped their price target on shares of Regal Rexnord from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Monday, April 13th. Six investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $232.25.

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.