AIGH Capital Management LLC Invests $14.04 Million in Regal Rexnord Corporation $RRX

AIGH Capital Management LLC bought a new stake in Regal Rexnord Corporation (NYSE:RRX) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 75,000 shares of the company’s stock, valued at approximately $14,045,000. Regal Rexnord comprises approximately 1.9% of AIGH Capital Management LLC’s investment portfolio, making the stock its 13th largest position.

A number of other large investors also recently made changes to their positions in RRX. AIA Group Ltd bought a new position in shares of Regal Rexnord during the 3rd quarter worth approximately $1,477,000. JPMorgan Chase & Co. grew its holdings in shares of Regal Rexnord by 97.0% in the third quarter. JPMorgan Chase & Co. now owns 260,853 shares of the company’s stock valued at $37,419,000 after acquiring an additional 128,468 shares in the last quarter. Schroder Investment Management Group grew its holdings in shares of Regal Rexnord by 27.9% in the third quarter. Schroder Investment Management Group now owns 384,560 shares of the company’s stock valued at $55,384,000 after acquiring an additional 83,871 shares in the last quarter. Easterly Investment Partners LLC increased its position in shares of Regal Rexnord by 719.4% during the fourth quarter. Easterly Investment Partners LLC now owns 75,354 shares of the company’s stock valued at $10,574,000 after acquiring an additional 66,158 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Regal Rexnord by 42.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,793 shares of the company’s stock valued at $3,619,000 after acquiring an additional 7,647 shares during the last quarter. 99.72% of the stock is owned by institutional investors.

Insider Buying and Selling at Regal Rexnord

In other Regal Rexnord news, CFO Robert Rehard sold 6,499 shares of the stock in a transaction dated Friday, May 22nd. The shares were 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 owned 27,965 shares in the company, valued at $5,593,000. This trade represents a 18.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robin A. Walker-Lee sold 1,297 shares of Regal Rexnord 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 $1,176,816.55. The trade was a 19.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 30,305 shares of company stock valued at $6,341,869 over the last three months. 0.63% of the stock is currently owned by insiders.

Regal Rexnord Stock Performance

NYSE:RRX opened at $208.45 on Thursday. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.17 and a quick ratio of 1.08. The business has a fifty day simple moving average of $212.30 and a two-hundred day simple moving average of $194.34. Regal Rexnord Corporation has a 1 year low of $127.96 and a 1 year high of $247.80. The company has a market capitalization of $13.88 billion, a P/E ratio of 48.48, a P/E/G ratio of 1.99 and a beta of 1.08.

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

Regal Rexnord Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 30th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Tuesday, June 30th. Regal Rexnord’s payout ratio is currently 32.56%.

Analysts Set New Price Targets

Several research analysts have weighed in on RRX shares. Citigroup boosted their price objective on Regal Rexnord from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Monday, April 13th. UBS Group set a $260.00 target price on Regal Rexnord in a research report on Monday, June 15th. Barclays lifted their target price on Regal Rexnord from $237.00 to $245.00 and gave the stock an “overweight” rating in a research note on Monday, March 23rd. DA Davidson started coverage on shares of Regal Rexnord in a report on Tuesday, June 16th. They issued a “buy” rating and a $260.00 price target on the stock. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Regal Rexnord in a research report on Tuesday, April 21st. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Regal Rexnord presently has an average rating of “Moderate Buy” and a consensus target price of $237.80.

About Regal Rexnord

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.