Regal Rexnord Corporation $RRX Holdings Lifted by Cramer Rosenthal Mcglynn LLC

Cramer Rosenthal Mcglynn LLC grew its position in shares of Regal Rexnord Corporation (NYSE:RRX) by 9.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 307,264 shares of the company’s stock after purchasing an additional 27,773 shares during the period. Regal Rexnord accounts for about 2.7% of Cramer Rosenthal Mcglynn LLC’s investment portfolio, making the stock its 5th largest position. Cramer Rosenthal Mcglynn LLC owned about 0.46% of Regal Rexnord worth $44,074,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. AQR Capital Management LLC grew its stake in Regal Rexnord by 208.1% in the 1st quarter. AQR Capital Management LLC now owns 17,747 shares of the company’s stock worth $2,011,000 after acquiring an additional 11,987 shares during the period. Jones Financial Companies Lllp boosted its holdings in shares of Regal Rexnord by 91.6% during the first 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 last quarter. Geneos Wealth Management Inc. grew its position in shares of 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 purchasing an additional 127 shares during the period. Envestnet Asset Management Inc. increased its stake in Regal Rexnord by 10.7% in the second quarter. Envestnet Asset Management Inc. now owns 76,135 shares of the company’s stock valued at $11,036,000 after purchasing an additional 7,370 shares during the last quarter. Finally, Atria Investments Inc lifted its position in Regal Rexnord by 30.4% during the second quarter. Atria Investments Inc now owns 3,538 shares of the company’s stock worth $513,000 after buying an additional 825 shares during the period. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Regal Rexnord Stock Performance

Shares of RRX stock opened at $198.64 on Friday. The company has a current ratio of 2.15, a quick ratio of 1.10 and a debt-to-equity ratio of 0.70. The company has a market cap of $13.21 billion, a PE ratio of 47.30, a P/E/G ratio of 1.95 and a beta of 1.05. The company’s fifty day simple moving average is $180.81 and its 200-day simple moving average is $156.39. Regal Rexnord Corporation has a 52 week low of $90.56 and a 52 week high of $229.30.

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

Regal Rexnord Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Investors 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 dividend yield of 0.7%. The ex-dividend date is Tuesday, March 31st. Regal Rexnord’s dividend payout ratio (DPR) is presently 33.33%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on RRX shares. Citigroup upped their price objective on shares of Regal Rexnord from $180.00 to $230.00 and gave the company a “buy” rating in a research note on Monday, February 9th. Jefferies Financial Group lowered shares of Regal Rexnord from a “buy” rating to a “hold” rating and dropped their price target for the stock from $170.00 to $160.00 in a research report on Wednesday, December 10th. Barclays lifted their price target on shares of Regal Rexnord from $165.00 to $237.00 and gave the company an “overweight” rating in a report on Monday, February 9th. Zacks Research upgraded Regal Rexnord from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 30th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Regal Rexnord in a research report on Thursday, January 22nd. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $227.50.

Insider Buying and Selling

In other Regal Rexnord news, Director Curtis W. Stoelting sold 4,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $180.00, for a total value of $810,000.00. Following the completion of the transaction, the director owned 15,617 shares in the company, valued at $2,811,060. This represents a 22.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 sale, the executive vice president directly owned 13,219 shares of the company’s stock, valued at $2,851,734.87. This trade represents a 14.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 53,451 shares of company stock valued at $11,386,689. Insiders own 0.82% of the company’s stock.

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.