Private Advisor Group LLC Makes New Investment in Regal Rexnord Corporation $RRX

Private Advisor Group LLC bought a new position in Regal Rexnord Corporation (NYSE:RRX) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,113 shares of the company’s stock, valued at approximately $583,000.

Several other large investors also recently made changes to their positions in the company. AIA Group Ltd acquired a new stake in Regal Rexnord in the 3rd quarter valued at $1,477,000. JPMorgan Chase & Co. increased its stake in Regal Rexnord by 97.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 260,853 shares of the company’s stock valued at $37,419,000 after buying an additional 128,468 shares during the last quarter. Easterly Investment Partners LLC lifted its holdings in Regal Rexnord by 719.4% during the fourth quarter. Easterly Investment Partners LLC now owns 75,354 shares of the company’s stock worth $10,574,000 after acquiring an additional 66,158 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Regal Rexnord by 42.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,793 shares of the company’s stock worth $3,619,000 after purchasing an additional 7,647 shares during the period. Finally, Vontobel Holding Ltd. raised its position in Regal Rexnord by 5.2% in the fourth quarter. Vontobel Holding Ltd. now owns 276,266 shares of the company’s stock worth $38,766,000 after acquiring an additional 13,564 shares during the period. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Oppenheimer reiterated an “outperform” rating on shares of Regal Rexnord in a research note on Friday, July 10th. JPMorgan Chase & Co. raised their target price on Regal Rexnord from $230.00 to $240.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. Wolfe Research set a $250.00 target price on Regal Rexnord in a report on Thursday, July 9th. 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, UBS Group set a $260.00 price objective on shares of Regal Rexnord in a research report on Monday, June 15th. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $243.45.

Regal Rexnord Price Performance

Shares of NYSE:RRX opened at $213.62 on Thursday. The company’s fifty day moving average price is $211.79 and its 200-day moving average price is $196.73. 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 has a market capitalization of $14.22 billion, a price-to-earnings ratio of 49.68, a PEG ratio of 1.98 and a beta of 1.08. Regal Rexnord Corporation has a one year low of $127.96 and a one year high of $247.80.

Regal Rexnord (NYSE:RRX) last announced 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 company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same period in the previous year, the business earned $2.15 earnings per share. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. On average, equities research analysts anticipate that Regal Rexnord Corporation will post 10.64 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

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

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 that occurred 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 transaction, the director directly owned 5,503 shares of the company’s stock, valued at approximately $1,176,816.55. This trade represents a 19.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Louis V. Pinkham sold 22,509 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $211.68, for a total transaction of $4,764,705.12. Following the completion of the sale, the chief executive officer directly owned 56,749 shares of the company’s stock, valued at $12,012,628.32. This trade represents a 28.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 30,305 shares of company stock valued at $6,341,869 over the last quarter. 0.63% of the stock is owned by corporate insiders.

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.