JPMorgan Chase & Co. Has $37.42 Million Stock Position in Regal Rexnord Corporation $RRX

JPMorgan Chase & Co. lifted its position in Regal Rexnord Corporation (NYSE:RRX) by 97.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 260,853 shares of the company’s stock after buying an additional 128,468 shares during the period. JPMorgan Chase & Co. owned about 0.39% of Regal Rexnord worth $37,419,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. increased its holdings 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 worth $25,000 after acquiring an additional 127 shares in the last quarter. Allworth Financial LP lifted its holdings in shares of Regal Rexnord by 85.7% during the 2nd quarter. Allworth Financial LP now owns 195 shares of the company’s stock valued at $28,000 after purchasing an additional 90 shares in the last quarter. Root Financial Partners LLC acquired a new position in shares of Regal Rexnord in the 3rd quarter valued at approximately $28,000. SJS Investment Consulting Inc. increased its stake in Regal Rexnord by 95.1% during the 3rd quarter. SJS Investment Consulting Inc. now owns 199 shares of the company’s stock worth $29,000 after purchasing an additional 97 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in Regal Rexnord by 216.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 272 shares of the company’s stock worth $39,000 after buying an additional 186 shares during the period. 99.72% of the stock is currently owned by institutional investors.

Regal Rexnord Trading Up 0.0%

Shares of NYSE:RRX opened at $220.86 on Friday. The company’s 50-day moving average price is $175.47 and its two-hundred day moving average price is $154.64. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.15 and a quick ratio of 1.10. Regal Rexnord Corporation has a one year low of $90.56 and a one year high of $229.30. The stock has a market capitalization of $14.69 billion, a PE ratio of 52.59, a price-to-earnings-growth ratio of 2.05 and a beta of 1.13.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings data on Thursday, February 5th. The company reported $2.51 earnings per share 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 company had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter last year, the company earned $2.34 EPS. Regal Rexnord’s revenue for the quarter was up 4.3% compared to the same quarter last year. On average, equities analysts forecast that Regal Rexnord Corporation will post 9.95 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 31st will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Tuesday, March 31st. Regal Rexnord’s dividend payout ratio is presently 33.33%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Regal Rexnord in a report on Thursday, January 22nd. Barclays boosted their price objective on shares of Regal Rexnord from $165.00 to $237.00 and gave the company an “overweight” rating in a research report on Monday, February 9th. Citigroup increased their target price on Regal Rexnord from $180.00 to $230.00 and gave the stock a “buy” 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, KeyCorp upped their price objective on Regal Rexnord from $200.00 to $255.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 10th. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $227.50.

Insider Activity

In related news, CEO Louis V. Pinkham sold 36,728 shares of the business’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $215.52, for a total transaction of $7,915,618.56. Following the transaction, the chief executive officer directly owned 83,337 shares in the company, valued at approximately $17,960,790.24. The trade was a 30.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Robert Rehard sold 7,704 shares of the company’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $216.72, for a total transaction of $1,669,610.88. Following the sale, the chief financial officer directly owned 34,154 shares in the company, valued at $7,401,854.88. This trade represents a 18.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 53,451 shares of company stock valued at $11,386,689 over the last three months. Corporate insiders own 0.82% of the company’s stock.

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.