Earnest Partners LLC Has $54.49 Million Stake in Regal Rexnord Corporation $RRX

Earnest Partners LLC lifted its stake in Regal Rexnord Corporation (NYSE:RRX) by 22.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 379,872 shares of the company’s stock after acquiring an additional 69,172 shares during the period. Earnest Partners LLC’s holdings in Regal Rexnord were worth $54,489,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in RRX. 1620 Investment Advisors Inc. raised its position in shares of Regal Rexnord by 8.6% in the third quarter. 1620 Investment Advisors Inc. now owns 944 shares of the company’s stock valued at $135,000 after purchasing an additional 75 shares during the period. Geneos Wealth Management Inc. boosted its holdings in shares of Regal Rexnord by 35.3% during the 2nd quarter. Geneos Wealth Management Inc. now owns 299 shares of the company’s stock worth $43,000 after buying an additional 78 shares during the period. UMB Bank n.a. boosted its holdings in shares of Regal Rexnord by 8.9% during the 3rd quarter. UMB Bank n.a. now owns 963 shares of the company’s stock worth $138,000 after buying an additional 79 shares during the period. EverSource Wealth Advisors LLC grew its stake in Regal Rexnord by 42.5% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 265 shares of the company’s stock valued at $38,000 after buying an additional 79 shares during the last quarter. Finally, Allworth Financial LP grew its stake in 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 buying an additional 90 shares during the last quarter. Institutional investors own 99.72% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Louis V. Pinkham sold 36,728 shares of the company’s stock in a transaction dated 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 owned 83,337 shares in the company, valued at $17,960,790.24. This represents a 30.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Robert Rehard sold 7,704 shares of the stock in a transaction that occurred on Monday, February 9th. The shares were 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 SEC filing for this sale provides additional information. Insiders sold 53,451 shares of company stock valued at $11,386,689 over the last quarter. 0.82% of the stock is owned by insiders.

Regal Rexnord Price Performance

NYSE:RRX opened at $186.47 on Monday. The company has a market capitalization of $12.40 billion, a price-to-earnings ratio of 44.40, a PEG ratio of 1.73 and a beta of 1.05. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.10 and a current ratio of 2.15. Regal Rexnord Corporation has a 52 week low of $90.56 and a 52 week high of $229.30. The company has a 50-day moving average of $186.85 and a 200-day moving average of $158.35.

Regal Rexnord (NYSE:RRX) last released 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. The company had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.54 billion. Regal Rexnord had a return on equity of 9.60% and a net margin of 4.71%.The company’s revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.34 EPS. As a group, equities research analysts anticipate that Regal Rexnord Corporation will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 31st will be given a $0.35 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $1.40 dividend on an annualized basis and a yield of 0.8%. Regal Rexnord’s payout ratio is 33.33%.

Analyst Upgrades and Downgrades

RRX has been the subject of a number of research analyst reports. Barclays boosted their target price on shares of Regal Rexnord from $165.00 to $237.00 and gave the stock an “overweight” rating in a research report on Monday, February 9th. Jefferies Financial Group downgraded Regal Rexnord from a “buy” rating to a “hold” rating and lowered their price target for the company from $170.00 to $160.00 in a research report on Wednesday, December 10th. Oppenheimer boosted their price objective on Regal Rexnord from $180.00 to $225.00 and gave the stock an “outperform” rating in a research report on Friday, February 6th. JPMorgan Chase & Co. increased their target price on Regal Rexnord from $190.00 to $230.00 and gave the company an “overweight” rating in a research note on Friday, February 6th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Regal Rexnord in a report on Thursday, January 22nd. Seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $227.50.

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.