Regal Rexnord Corporation $RRX Shares Sold by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC decreased its holdings in shares of Regal Rexnord Corporation (NYSE:RRX) by 1.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 387,424 shares of the company’s stock after selling 3,802 shares during the period. Brandywine Global Investment Management LLC’s holdings in Regal Rexnord were worth $54,363,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in RRX. Victory Capital Management Inc. raised its holdings in shares of Regal Rexnord by 138.4% in the 3rd quarter. Victory Capital Management Inc. now owns 3,968,101 shares of the company’s stock worth $566,981,000 after purchasing an additional 2,303,373 shares in the last quarter. Viking Global Investors LP grew its position in Regal Rexnord by 25.7% in the second quarter. Viking Global Investors LP now owns 3,430,128 shares of the company’s stock worth $497,231,000 after buying an additional 701,145 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Regal Rexnord by 14.5% in the third quarter. Dimensional Fund Advisors LP now owns 2,398,921 shares of the company’s stock valued at $344,103,000 after buying an additional 303,378 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Regal Rexnord by 17.7% in the third quarter. Invesco Ltd. now owns 1,500,000 shares of the company’s stock valued at $215,160,000 after buying an additional 225,734 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Regal Rexnord by 4.7% during the 4th quarter. Geode Capital Management LLC now owns 1,231,262 shares of the company’s stock valued at $172,806,000 after acquiring an additional 55,797 shares during the last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.

Insider Buying and Selling at Regal Rexnord

In other news, CEO Louis V. Pinkham sold 22,509 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $211.68, for a total transaction of $4,764,705.12. Following the transaction, the chief executive officer owned 56,749 shares in the company, valued at approximately $12,012,628.32. This trade represents a 28.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robin A. Walker-Lee sold 1,297 shares of Regal Rexnord stock in a transaction on 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 sale, the director directly owned 5,503 shares of the company’s stock, valued at approximately $1,176,816.55. The trade was a 19.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 30,305 shares of company stock worth $6,341,869 over the last ninety days. 0.63% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

Regal Rexnord Stock Performance

Shares of NYSE RRX opened at $205.14 on Monday. The business’s 50-day moving average price is $202.87 and its two-hundred day moving average price is $182.03. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.17 and a quick ratio of 1.08. Regal Rexnord Corporation has a one year low of $127.96 and a one year high of $236.35. The company has a market capitalization of $13.66 billion, a P/E ratio of 47.71, a price-to-earnings-growth ratio of 1.92 and a beta of 1.11.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings results on Thursday, May 7th. The company reported $2.17 earnings per share for the quarter, topping analysts’ consensus estimates of $2.11 by $0.06. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.43 billion. Regal Rexnord had a return on equity of 9.49% and a net margin of 4.78%.The business’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period last year, the business earned $2.15 EPS. Analysts anticipate that Regal Rexnord Corporation will post 10.63 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

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

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.