Regal Rexnord Corporation $RRX Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC increased its stake in Regal Rexnord Corporation (NYSE:RRX) by 4.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,231,262 shares of the company’s stock after acquiring an additional 55,797 shares during the period. Geode Capital Management LLC’s holdings in Regal Rexnord were worth $172,806,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Malaga Cove Capital LLC bought a new position in shares of Regal Rexnord in the fourth quarter valued at approximately $287,000. Clearstead Advisors LLC boosted its holdings in shares of Regal Rexnord by 169.3% in the fourth quarter. Clearstead Advisors LLC now owns 1,139 shares of the company’s stock valued at $160,000 after acquiring an additional 716 shares in the last quarter. Systematic Financial Management LP boosted its holdings in shares of Regal Rexnord by 0.3% in the fourth quarter. Systematic Financial Management LP now owns 198,564 shares of the company’s stock valued at $27,863,000 after acquiring an additional 522 shares in the last quarter. Private Capital Advisors Inc. bought a new position in shares of Regal Rexnord in the fourth quarter valued at approximately $5,896,000. Finally, William Blair Investment Management LLC boosted its holdings in shares of Regal Rexnord by 88.4% in the fourth quarter. William Blair Investment Management LLC now owns 759,283 shares of the company’s stock valued at $106,543,000 after acquiring an additional 356,279 shares in the last quarter. 99.72% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. KeyCorp increased their price objective on shares of Regal Rexnord from $255.00 to $265.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Regal Rexnord in a report on Tuesday, April 21st. Citigroup increased their price objective on shares of Regal Rexnord from $230.00 to $240.00 and gave the company a “buy” rating in a report on Monday, April 13th. The Goldman Sachs Group increased their price objective on shares of Regal Rexnord from $170.00 to $230.00 and gave the company a “buy” rating in a report on Monday, February 9th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Regal Rexnord from $230.00 to $240.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Regal Rexnord has an average rating of “Moderate Buy” and a consensus price target of $232.25.

Insiders Place Their Bets

In other Regal Rexnord news, CEO Louis V. Pinkham sold 22,509 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 56,749 shares in the company, valued at $12,012,628.32. This trade represents a 28.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Robin A. Walker-Lee sold 1,297 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $213.85, for a total transaction of $277,363.45. Following the completion of the transaction, the director owned 5,503 shares of the company’s stock, valued at approximately $1,176,816.55. The trade was a 19.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 30,305 shares of company stock worth $6,341,869 over the last ninety days. 0.63% of the stock is currently owned by company insiders.

Regal Rexnord Stock Up 0.9%

Shares of Regal Rexnord stock opened at $215.87 on Thursday. The stock’s fifty day moving average is $202.17 and its 200-day moving average is $180.96. The firm has a market capitalization of $14.37 billion, a PE ratio of 50.20, a price-to-earnings-growth ratio of 2.01 and a beta of 1.11. The company has a quick ratio of 1.08, a current ratio of 2.17 and a debt-to-equity ratio of 0.69. Regal Rexnord Corporation has a 12-month low of $127.96 and a 12-month high of $236.35.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings results on Thursday, May 7th. The company reported $2.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.11 by $0.06. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.43 billion. Regal Rexnord had a return on equity of 9.49% and a net margin of 4.78%.Regal Rexnord’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter last year, the company posted $2.15 EPS. Equities analysts anticipate that Regal Rexnord Corporation will post 10.63 earnings per share for the current year.

Regal Rexnord Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 30th 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 is Tuesday, June 30th. Regal Rexnord’s dividend payout ratio (DPR) is presently 32.56%.

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.