Erste Asset Management GmbH Raises Holdings in Regal Rexnord Corporation $RRX

Erste Asset Management GmbH lifted its holdings in Regal Rexnord Corporation (NYSE:RRX) by 396.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,943 shares of the company’s stock after buying an additional 38,288 shares during the quarter. Erste Asset Management GmbH owned 0.07% of Regal Rexnord worth $6,922,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Geneos Wealth Management Inc. lifted its holdings in Regal Rexnord by 135.1% in the first quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock valued at $25,000 after acquiring an additional 127 shares during the period. Allworth Financial LP increased its holdings in shares of Regal Rexnord by 85.7% in 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 stake in shares of Regal Rexnord in the third quarter valued at about $28,000. SJS Investment Consulting Inc. boosted its holdings in Regal Rexnord by 95.1% during the third quarter. SJS Investment Consulting Inc. now owns 199 shares of the company’s stock worth $29,000 after buying an additional 97 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in Regal Rexnord by 42.5% during the third quarter. EverSource Wealth Advisors LLC now owns 265 shares of the company’s stock worth $38,000 after buying an additional 79 shares during the period. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Insider Activity

In other Regal Rexnord news, EVP Cheryl Lewis sold 2,262 shares of the business’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $215.73, for a total value of $487,981.26. Following the completion of the transaction, the executive vice president directly owned 13,219 shares in the company, valued at approximately $2,851,734.87. The trade was a 14.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Robert Rehard sold 7,704 shares of the firm’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $216.72, for a total value of $1,669,610.88. Following the sale, the chief financial officer owned 34,154 shares in the company, valued at $7,401,854.88. This trade represents a 18.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 53,451 shares of company stock worth $11,386,689. 0.82% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

RRX has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their price target on shares of Regal Rexnord from $190.00 to $230.00 and gave the company an “overweight” rating in a research report on Friday, February 6th. Robert W. Baird set a $253.00 price objective on Regal Rexnord in a research note on Friday, February 6th. Oppenheimer boosted their target price on Regal Rexnord from $180.00 to $225.00 and gave the stock an “outperform” rating in a research report on Friday, February 6th. KeyCorp upped their target price on Regal Rexnord from $200.00 to $255.00 and gave the company an “overweight” rating in a report on Tuesday, February 10th. Finally, Jefferies Financial Group downgraded Regal Rexnord from a “buy” rating to a “hold” rating and cut their price target for the stock from $170.00 to $160.00 in a research note on Wednesday, December 10th. Seven 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 has an average rating of “Moderate Buy” and an average price target of $227.50.

Regal Rexnord Stock Up 0.0%

Shares of NYSE:RRX opened at $220.86 on Friday. The company has a quick ratio of 1.10, a current ratio of 2.15 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $14.69 billion, a P/E ratio of 52.59, a P/E/G ratio of 2.05 and a beta of 1.13. Regal Rexnord Corporation has a 52-week low of $90.56 and a 52-week high of $229.30. The stock’s fifty day simple moving average is $175.47 and its 200-day simple moving average is $154.64.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings data on Thursday, February 5th. The company reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. The firm had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Regal Rexnord had a return on equity of 9.60% and a net margin of 4.71%.The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.34 EPS. As a group, equities research analysts forecast that Regal Rexnord Corporation will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

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

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.