Systematic Financial Management LP Lowers Stock Position in Regal Rexnord Corporation $RRX

Systematic Financial Management LP trimmed its holdings in Regal Rexnord Corporation (NYSE:RRX) by 2.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 193,791 shares of the company’s stock after selling 4,773 shares during the quarter. Systematic Financial Management LP owned approximately 0.29% of Regal Rexnord worth $36,290,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Covestor Ltd increased its position in Regal Rexnord by 81.6% in the 4th quarter. Covestor Ltd now owns 178 shares of the company’s stock valued at $25,000 after acquiring an additional 80 shares during the period. Geneos Wealth Management Inc. lifted its position in Regal Rexnord by 135.1% during the 1st 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 period. Garner Asset Management Corp purchased a new position in shares of Regal Rexnord in the 4th quarter valued at approximately $27,000. IFP Advisors Inc lifted its stake in shares of Regal Rexnord by 34.0% in the 4th quarter. IFP Advisors Inc now owns 193 shares of the company’s stock worth $27,000 after acquiring an additional 49 shares during the period. Finally, Advisory Services Network LLC purchased a new position in shares of Regal Rexnord during the 3rd quarter worth approximately $35,000. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Insider Activity at Regal Rexnord

In other Regal Rexnord news, CFO Robert Rehard sold 6,499 shares of the 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 transaction, the chief financial officer directly owned 27,965 shares of the company’s stock, valued at approximately $5,593,000. This trade represents a 18.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Louis V. Pinkham sold 22,509 shares of Regal Rexnord stock in a transaction on Monday, May 11th. The shares were sold at an average price of $211.68, for a total value of $4,764,705.12. Following the transaction, the chief executive officer owned 56,749 shares in the company, valued at approximately $12,012,628.32. This trade represents a 28.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 30,305 shares of company stock worth $6,341,869 over the last quarter. 0.63% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on RRX. Deutsche Bank Aktiengesellschaft started coverage on shares of Regal Rexnord in a report on Monday. They issued a “buy” rating and a $286.00 price target for the company. UBS Group set a $260.00 target price on Regal Rexnord in a report on Monday, June 15th. Citigroup increased their price target on Regal Rexnord from $240.00 to $260.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. DA Davidson began coverage on Regal Rexnord in a research report on Tuesday, June 16th. They set a “buy” rating and a $260.00 price target for the company. Finally, Wolfe Research set a $250.00 price target on shares of Regal Rexnord in a research report on Thursday, July 9th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Regal Rexnord presently has a consensus rating of “Moderate Buy” and a consensus target price of $247.00.

Regal Rexnord Stock Performance

Shares of NYSE RRX opened at $213.95 on Friday. The company has a quick ratio of 1.08, a current ratio of 2.17 and a debt-to-equity ratio of 0.69. The firm’s 50-day moving average price is $212.02 and its two-hundred day moving average price is $199.61. Regal Rexnord Corporation has a 52-week low of $127.96 and a 52-week high of $247.80. The stock has a market capitalization of $14.24 billion, a P/E ratio of 49.76, a P/E/G ratio of 2.02 and a beta of 1.08.

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

Regal Rexnord Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 14th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Wednesday, September 30th. 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.