SG Americas Securities LLC Sells 3,197 Shares of Regal Rexnord Corporation $RRX

SG Americas Securities LLC lowered its position in shares of Regal Rexnord Corporation (NYSE:RRX) by 16.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm 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 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. AIA Group Ltd bought a new stake in shares of Regal Rexnord in the 3rd quarter valued at about $1,477,000. JPMorgan Chase & Co. lifted its position in shares of Regal Rexnord by 97.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 260,853 shares of the company’s stock worth $37,419,000 after purchasing an additional 128,468 shares during the period. American Century Companies Inc. bought a new position in shares of Regal Rexnord during the third quarter valued at approximately $47,778,000. Teachers Retirement System of The State of Kentucky increased its holdings in Regal Rexnord by 55.2% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 124,005 shares of the company’s stock valued at $17,788,000 after buying an additional 44,100 shares during the period. Finally, Schroder Investment Management Group increased its holdings in Regal Rexnord by 27.9% during the third quarter. Schroder Investment Management Group now owns 384,560 shares of the company’s stock valued at $55,384,000 after buying an additional 83,871 shares during the period. 99.72% of the stock is currently owned by institutional investors.

Regal Rexnord Price Performance

NYSE RRX opened at $238.12 on Wednesday. The firm’s fifty day simple moving average is $211.57 and its two-hundred day simple moving average is $191.34. The company has a current ratio of 2.17, a quick ratio of 1.08 and a debt-to-equity ratio of 0.69. Regal Rexnord Corporation has a 12-month low of $127.96 and a 12-month high of $239.00. The firm has a market capitalization of $15.85 billion, a P/E ratio of 55.38, a P/E/G ratio of 2.07 and a beta of 1.11.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings data on Thursday, May 7th. The company reported $2.17 EPS for the quarter, beating the consensus estimate of $2.11 by $0.06. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.43 billion. Regal Rexnord had a return on equity of 9.49% and a net margin of 4.78%.The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.15 EPS. Analysts forecast that Regal Rexnord Corporation will post 10.64 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 30th will be paid a $0.35 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $1.40 dividend on an annualized basis and a yield of 0.6%. Regal Rexnord’s dividend payout ratio (DPR) is 32.56%.

Insiders Place Their Bets

In other Regal Rexnord news, Director Robin A. Walker-Lee sold 1,297 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $213.85, for a total value of $277,363.45. Following the completion of the sale, the director owned 5,503 shares of the company’s stock, valued at approximately $1,176,816.55. This trade represents a 19.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Louis V. Pinkham sold 22,509 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $211.68, for a total value of $4,764,705.12. Following the sale, the chief executive officer owned 56,749 shares in the company, valued at $12,012,628.32. The trade was a 28.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 30,305 shares of company stock valued at $6,341,869. 0.63% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

RRX has been the subject of a number of analyst reports. KeyCorp upped their target price on Regal Rexnord from $255.00 to $265.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Wall Street Zen lowered Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, April 28th. UBS Group set a $260.00 price objective on Regal Rexnord in a research note on Monday, June 15th. Barclays raised their price objective on Regal Rexnord from $237.00 to $245.00 and gave the company an “overweight” rating in a research report on Monday, March 23rd. Finally, Citigroup lifted their target price on Regal Rexnord from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Monday, April 13th. Seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $237.80.

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.