Corient Private Wealth LLC Has $655,000 Stake in Regal Rexnord Corporation $RRX

Corient Private Wealth LLC decreased its stake in shares of Regal Rexnord Corporation (NYSE:RRX) by 86.0% in the 4th quarter, Holdings Channel reports. The fund owned 4,638 shares of the company’s stock after selling 28,408 shares during the quarter. Corient Private Wealth LLC’s holdings in Regal Rexnord were worth $655,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of RRX. AQR Capital Management LLC grew its stake in shares of Regal Rexnord by 208.1% in the first quarter. AQR Capital Management LLC now owns 17,747 shares of the company’s stock valued at $2,011,000 after buying an additional 11,987 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in shares of Regal Rexnord by 91.6% during the 1st quarter. Jones Financial Companies Lllp now owns 617 shares of the company’s stock worth $70,000 after buying an additional 295 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in Regal Rexnord by 135.1% during the first quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock worth $25,000 after acquiring an additional 127 shares during the last quarter. Cetera Investment Advisers boosted its stake in 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 during the period. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of Regal Rexnord in the second quarter valued at about $4,759,000. 99.72% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Robin A. Walker-Lee sold 1,297 shares of Regal Rexnord stock in a transaction on Monday, May 11th. The stock was sold at an average price of $213.85, for a total transaction of $277,363.45. Following the sale, the director directly owned 5,503 shares in the company, 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 SEC, which can be accessed through this link. Also, CFO Robert Rehard sold 6,499 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $200.00, for a total transaction of $1,299,800.00. Following the completion of the transaction, the chief financial officer owned 27,965 shares in the company, valued at approximately $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 three months. 0.63% of the stock is currently owned by insiders.

Regal Rexnord Trading Down 0.0%

Shares of NYSE RRX opened at $218.39 on Friday. The stock has a market cap of $14.54 billion, a P/E ratio of 50.79, a price-to-earnings-growth ratio of 2.05 and a beta of 1.08. Regal Rexnord Corporation has a 52-week low of $127.96 and a 52-week high of $247.80. The firm has a 50 day moving average price of $212.33 and a two-hundred day moving average price of $192.54. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.08 and a current ratio of 2.17.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings results on Thursday, May 7th. The company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.11 by $0.06. Regal Rexnord had a net margin of 4.78% and a return on equity of 9.49%. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same quarter last year, the business earned $2.15 EPS. The company’s revenue was up 4.3% compared to the same quarter last year. As a group, equities analysts forecast that Regal Rexnord Corporation will post 10.64 EPS for the current year.

Regal Rexnord Dividend Announcement

The firm also recently announced 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 0.6%. The ex-dividend date is Tuesday, June 30th. Regal Rexnord’s dividend payout ratio is currently 32.56%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Barclays raised their price target on Regal Rexnord from $237.00 to $245.00 and gave the stock an “overweight” rating in a research report on Monday, March 23rd. Citigroup lifted their price target on Regal Rexnord from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Monday, April 13th. DA Davidson started coverage on Regal Rexnord in a report on Tuesday, June 16th. They set a “buy” rating and a $260.00 price target for the company. JPMorgan Chase & Co. upped their price objective on Regal Rexnord from $230.00 to $240.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Finally, UBS Group set a $260.00 price objective on Regal Rexnord in a research note on Monday, June 15th. Seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.