Leeward Investments LLC MA Has $41.14 Million Stock Holdings in Regal Rexnord Corporation $RRX

Leeward Investments LLC MA cut its stake in Regal Rexnord Corporation (NYSE:RRX) by 5.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 219,686 shares of the company’s stock after selling 12,880 shares during the period. Regal Rexnord accounts for approximately 2.0% of Leeward Investments LLC MA’s portfolio, making the stock its 3rd largest position. Leeward Investments LLC MA’s holdings in Regal Rexnord were worth $41,138,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. AQR Capital Management LLC lifted its stake in shares of Regal Rexnord by 208.1% in the 1st quarter. AQR Capital Management LLC now owns 17,747 shares of the company’s stock valued at $2,011,000 after purchasing an additional 11,987 shares during the period. Jones Financial Companies Lllp grew its stake in Regal Rexnord by 91.6% in the first quarter. Jones Financial Companies Lllp now owns 617 shares of the company’s stock worth $70,000 after purchasing an additional 295 shares during the period. Geneos Wealth Management Inc. grew its stake in Regal Rexnord by 135.1% in the first quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock worth $25,000 after purchasing an additional 127 shares during the period. Cetera Investment Advisers raised its holdings in Regal Rexnord by 6.7% in the second quarter. Cetera Investment Advisers now owns 3,116 shares of the company’s stock worth $452,000 after purchasing an additional 196 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in Regal Rexnord in the second quarter worth $4,759,000. 99.72% of the stock is owned by institutional investors.

Insider Activity at Regal Rexnord

In related news, CEO Louis V. Pinkham sold 22,509 shares of the company’s stock in a transaction that occurred 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 directly owned 56,749 shares of the company’s stock, valued at approximately $12,012,628.32. This represents a 28.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Robert Rehard sold 6,499 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $200.00, for a total value of $1,299,800.00. Following the sale, the chief financial officer owned 27,965 shares in the company, valued at approximately $5,593,000. This represents a 18.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 30,305 shares of company stock valued at $6,341,869. 0.63% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Barclays boosted their target price on shares of Regal Rexnord from $237.00 to $245.00 and gave the company an “overweight” rating in a report on Monday, March 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Regal Rexnord in a research note on Tuesday, April 21st. JPMorgan Chase & Co. lifted their price target on shares of Regal Rexnord from $230.00 to $240.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. UBS Group set a $260.00 price objective on shares of Regal Rexnord in a research note on Monday, June 15th. Finally, KeyCorp upped their price objective on shares of Regal Rexnord from $255.00 to $265.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $237.80.

Regal Rexnord Price Performance

RRX opened at $218.08 on Wednesday. The firm has a market cap of $14.52 billion, a PE ratio of 50.72, a P/E/G ratio of 2.17 and a beta of 1.11. The stock has a 50-day moving average price of $209.42 and a 200-day moving average price of $188.60. Regal Rexnord Corporation has a 1 year low of $127.96 and a 1 year 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.

Regal Rexnord (NYSE:RRX) last issued its earnings results on Thursday, May 7th. The company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.11 by $0.06. Regal Rexnord had a net margin of 4.78% and a return on equity of 9.49%. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the previous year, the company earned $2.15 earnings per share. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. Sell-side analysts predict that Regal Rexnord Corporation will post 10.64 earnings per share for the current fiscal 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 issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Tuesday, June 30th. Regal Rexnord’s payout ratio 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.