Ritholtz Wealth Management Buys Shares of 2,934 Regal Rexnord Corporation $RRX

Ritholtz Wealth Management bought a new position in shares of Regal Rexnord Corporation (NYSE:RRX) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,934 shares of the company’s stock, valued at approximately $549,000.

Several other institutional investors also recently modified their holdings of RRX. Fifth Third Wealth Advisors LLC boosted its holdings in shares of Regal Rexnord by 3.2% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 2,092 shares of the company’s stock valued at $392,000 after acquiring an additional 65 shares in the last quarter. Mountain Pacific Investment Advisers LLC increased its holdings in Regal Rexnord by 3.5% in the 1st quarter. Mountain Pacific Investment Advisers LLC now owns 12,241 shares of the company’s stock worth $2,292,000 after purchasing an additional 416 shares in the last quarter. Rehmann Capital Advisory Group increased its holdings in Regal Rexnord by 15.2% in the 4th quarter. Rehmann Capital Advisory Group now owns 2,318 shares of the company’s stock worth $325,000 after purchasing an additional 306 shares in the last quarter. Kera Capital Partners Inc. bought a new position in Regal Rexnord in the fourth quarter valued at about $180,000. Finally, Dean Capital Management boosted its stake in shares of Regal Rexnord by 3.2% during the fourth quarter. Dean Capital Management now owns 13,873 shares of the company’s stock valued at $1,947,000 after purchasing an additional 429 shares in the last quarter. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on RRX shares. KeyCorp boosted their price target on Regal Rexnord from $255.00 to $265.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. DA Davidson assumed coverage on shares of Regal Rexnord in a research report on Tuesday, June 16th. They issued a “buy” rating and a $260.00 price target for the company. UBS Group set a $260.00 price target on shares of Regal Rexnord in a research note on Monday, June 15th. Citigroup lifted their price target 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, JPMorgan Chase & Co. boosted their price objective on shares of Regal Rexnord from $230.00 to $240.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $237.80.

Insider Activity

In other news, Director Robin A. Walker-Lee sold 1,297 shares of the firm’s stock in a transaction that occurred 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 owned 5,503 shares of the company’s stock, valued at $1,176,816.55. This trade represents a 19.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Robert Rehard sold 6,499 shares of the firm’s 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 completion of 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 30,305 shares of company stock valued at $6,341,869 in the last ninety days. 0.63% of the stock is owned by company insiders.

Regal Rexnord Trading Up 8.3%

NYSE:RRX opened at $238.12 on Wednesday. Regal Rexnord Corporation has a 52 week low of $127.96 and a 52 week high of $239.00. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.08 and a current ratio of 2.17. The firm’s fifty day moving average is $211.57 and its 200-day moving average is $191.34. The firm has a market cap 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 announced its 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 business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.43 billion. Regal Rexnord had a net margin of 4.78% and a return on equity of 9.49%. Regal Rexnord’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.15 earnings per share. Equities analysts expect that Regal Rexnord Corporation will post 10.64 earnings per share for the current year.

Regal Rexnord Dividend Announcement

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

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.