Clearbridge Investments LLC Has $81.95 Million Stock Position in Regal Rexnord Corporation $RRX

Clearbridge Investments LLC decreased its stake in Regal Rexnord Corporation (NYSE:RRX) by 3.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 584,025 shares of the company’s stock after selling 22,904 shares during the period. Clearbridge Investments LLC’s holdings in Regal Rexnord were worth $81,950,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of RRX. Victory Capital Management Inc. grew its stake in shares of Regal Rexnord by 138.4% in the third quarter. Victory Capital Management Inc. now owns 3,968,101 shares of the company’s stock worth $566,981,000 after acquiring an additional 2,303,373 shares during the last quarter. Norges Bank acquired a new stake in shares of Regal Rexnord in the fourth quarter worth $121,301,000. Viking Global Investors LP grew its stake in shares of Regal Rexnord by 25.7% in the second quarter. Viking Global Investors LP now owns 3,430,128 shares of the company’s stock worth $497,231,000 after acquiring an additional 701,145 shares during the last quarter. William Blair Investment Management LLC acquired a new stake in shares of Regal Rexnord in the third quarter worth $57,807,000. Finally, Westfield Capital Management Co. LP grew its stake in shares of Regal Rexnord by 40.4% in the third quarter. Westfield Capital Management Co. LP now owns 1,221,730 shares of the company’s stock worth $175,245,000 after acquiring an additional 351,599 shares during the last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.

Insiders Place Their Bets

In other Regal Rexnord news, Director Robin A. Walker-Lee sold 1,297 shares of Regal Rexnord stock in a transaction on Monday, May 11th. The shares were sold at an average price of $213.85, for a total transaction of $277,363.45. Following the sale, the director owned 5,503 shares in the company, valued at $1,176,816.55. The trade was a 19.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Robert Rehard sold 6,499 shares of the business’s stock in a transaction on 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 sale, the chief financial officer owned 27,965 shares in the company, valued at $5,593,000. This represents a 18.86% decrease in their position. 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 90 days. Corporate insiders own 0.63% of the company’s stock.

Regal Rexnord Stock Up 2.7%

RRX opened at $210.02 on Tuesday. Regal Rexnord Corporation has a fifty-two week low of $127.96 and a fifty-two week high of $236.35. 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 firm’s fifty day moving average price is $203.32 and its two-hundred day moving average price is $182.59. The company has a market capitalization of $13.98 billion, a P/E ratio of 48.84, a P/E/G ratio of 1.92 and a beta of 1.11.

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

Regal Rexnord Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts have recently issued reports on RRX shares. Barclays raised their price objective on shares of Regal Rexnord from $237.00 to $245.00 and gave the stock an “overweight” rating in a research note on Monday, March 23rd. The Goldman Sachs Group raised their price objective on shares of Regal Rexnord from $170.00 to $230.00 and gave the stock a “buy” rating in a research note on Monday, February 9th. Weiss Ratings restated a “hold (c)” rating on shares of Regal Rexnord in a research note on Tuesday, April 21st. KeyCorp raised their price objective on shares of Regal Rexnord from $255.00 to $265.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Regal Rexnord from $230.00 to $240.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. Six investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Regal Rexnord has an average rating of “Moderate Buy” and an average target price of $232.25.

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.