Dimensional Fund Advisors LP Trims Stock Holdings in Regal Rexnord Corporation $RRX

Dimensional Fund Advisors LP lowered its holdings in Regal Rexnord Corporation (NYSE:RRX) by 11.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,231,415 shares of the company’s stock after selling 298,677 shares during the period. Dimensional Fund Advisors LP’s holdings in Regal Rexnord were worth $417,819,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of RRX. Victory Capital Management Inc. boosted its holdings in Regal Rexnord by 42.6% in the 4th quarter. Victory Capital Management Inc. now owns 5,658,365 shares of the company’s stock worth $793,983,000 after buying an additional 1,690,264 shares during the period. Bank of New York Mellon Corp grew its stake in Regal Rexnord by 115.5% in the 1st quarter. Bank of New York Mellon Corp now owns 1,836,264 shares of the company’s stock valued at $343,859,000 after buying an additional 984,185 shares in the last quarter. Bessemer Group Inc. raised its holdings in Regal Rexnord by 4,155.4% during the 1st quarter. Bessemer Group Inc. now owns 916,054 shares of the company’s stock valued at $171,541,000 after acquiring an additional 894,527 shares during the period. Norges Bank bought a new stake in Regal Rexnord during the 4th quarter valued at $121,301,000. Finally, Viking Global Investors LP lifted its position in shares of Regal Rexnord by 25.7% during 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 in the last quarter. 99.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on RRX. DA Davidson started coverage on Regal Rexnord in a report on Tuesday, June 16th. They issued a “buy” rating and a $260.00 price target for the company. KeyCorp boosted their price objective on Regal Rexnord from $255.00 to $265.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Regal Rexnord in a report on Tuesday, April 21st. Citigroup raised their target price on Regal Rexnord from $240.00 to $260.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Finally, Barclays lifted their target price on Regal Rexnord from $237.00 to $245.00 and gave the company an “overweight” rating in a report on Monday, March 23rd. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Regal Rexnord currently has a consensus rating of “Moderate Buy” and a consensus target price of $247.00.

Regal Rexnord Trading Down 0.5%

Shares of Regal Rexnord stock opened at $205.69 on Tuesday. Regal Rexnord Corporation has a 1 year low of $127.96 and a 1 year high of $247.80. The firm has a market cap of $13.69 billion, a PE ratio of 47.83, a PEG ratio of 1.94 and a beta of 1.08. 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 company has a 50 day simple moving average of $211.65 and a two-hundred day simple moving average of $198.10.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings results on Thursday, May 7th. The company reported $2.17 EPS for the quarter, topping analysts’ consensus estimates of $2.11 by $0.06. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.43 billion. Regal Rexnord had a net margin of 4.78% and a return on equity of 9.49%. 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. Analysts expect that Regal Rexnord Corporation will post 10.64 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 14th. Investors of record on Tuesday, June 30th were given a $0.35 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $1.40 annualized dividend and a yield of 0.7%. Regal Rexnord’s payout ratio is 32.56%.

Insider Buying and Selling

In related news, CEO Louis V. Pinkham sold 22,509 shares of the stock in a transaction on Monday, May 11th. The stock was 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 of the company’s stock, valued at $12,012,628.32. This represents a 28.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robin A. Walker-Lee sold 1,297 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $213.85, for a total value 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 position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 30,305 shares of company stock worth $6,341,869. Corporate insiders own 0.63% of the company’s stock.

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.