Schroder Investment Management Group Purchases 83,871 Shares of Regal Rexnord Corporation $RRX

Schroder Investment Management Group boosted its holdings in shares of Regal Rexnord Corporation (NYSE:RRX) by 27.9% during the third quarter, Holdings Channel reports. The institutional investor owned 384,560 shares of the company’s stock after acquiring an additional 83,871 shares during the quarter. Schroder Investment Management Group’s holdings in Regal Rexnord were worth $55,384,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Geneos Wealth Management Inc. lifted its holdings in shares of 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. Aster Capital Management DIFC Ltd bought a new stake in Regal Rexnord in the third quarter valued at about $27,000. Allworth Financial LP increased its stake in Regal Rexnord by 85.7% in the second quarter. Allworth Financial LP now owns 195 shares of the company’s stock valued at $28,000 after acquiring an additional 90 shares during the period. Root Financial Partners LLC acquired a new position in Regal Rexnord in the third quarter worth about $28,000. Finally, SJS Investment Consulting Inc. lifted its stake in Regal Rexnord by 95.1% during the third quarter. SJS Investment Consulting Inc. now owns 199 shares of the company’s stock worth $29,000 after purchasing an additional 97 shares during the period. Institutional investors and hedge funds own 99.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on RRX. Jefferies Financial Group lowered Regal Rexnord from a “buy” rating to a “hold” rating and lowered their price objective for the company from $170.00 to $160.00 in a research note on Wednesday, December 10th. The Goldman Sachs Group raised their target price on Regal Rexnord from $170.00 to $230.00 and gave the stock a “buy” rating in a research report on Monday, February 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of Regal Rexnord in a research report on Thursday, January 22nd. Oppenheimer increased their price objective on Regal Rexnord from $180.00 to $225.00 and gave the stock an “outperform” rating in a research note on Friday, February 6th. Finally, JPMorgan Chase & Co. lifted their price objective on Regal Rexnord from $190.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, February 6th. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Regal Rexnord currently has a consensus rating of “Moderate Buy” and an average price target of $227.50.

Regal Rexnord Trading Up 2.7%

Shares of NYSE RRX opened at $201.28 on Wednesday. Regal Rexnord Corporation has a 1-year low of $90.56 and a 1-year high of $229.30. The company has a 50-day moving average of $183.87 and a two-hundred day moving average of $157.51. The company has a market cap of $13.38 billion, a PE ratio of 47.92, a P/E/G ratio of 1.82 and a beta of 1.05. The company has a current ratio of 2.15, a quick ratio of 1.10 and a debt-to-equity ratio of 0.70.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings results on Thursday, February 5th. The company reported $2.51 EPS for the quarter, beating the consensus estimate of $2.47 by $0.04. The business had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Regal Rexnord had a net margin of 4.71% and a return on equity of 9.60%. Regal Rexnord’s revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.34 earnings per share. As a group, equities analysts expect that Regal Rexnord Corporation will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 31st will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, March 31st. Regal Rexnord’s dividend payout ratio (DPR) is 33.33%.

Insider Transactions at Regal Rexnord

In related news, CEO Louis V. Pinkham sold 36,728 shares of the firm’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $215.52, for a total value of $7,915,618.56. Following the transaction, the chief executive officer owned 83,337 shares in the company, valued at $17,960,790.24. This trade represents a 30.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Robert Rehard sold 968 shares of Regal Rexnord stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $223.00, for a total value of $215,864.00. Following the completion of the sale, the chief financial officer owned 34,447 shares of the company’s stock, valued at approximately $7,681,681. The trade was a 2.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 53,451 shares of company stock worth $11,386,689. Insiders own 0.82% of the company’s stock.

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.