Capital World Investors Has $377.15 Million Stock Position in Regal Rexnord Corporation $RRX

Capital World Investors lowered its stake in Regal Rexnord Corporation (NYSE:RRX) by 31.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,687,729 shares of the company’s stock after selling 1,225,381 shares during the quarter. Capital World Investors’ holdings in Regal Rexnord were worth $377,148,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Victory Capital Management Inc. lifted its stake in shares of Regal Rexnord by 138.4% in the 3rd quarter. Victory Capital Management Inc. now owns 3,968,101 shares of the company’s stock valued at $566,981,000 after purchasing an additional 2,303,373 shares during the period. Viking Global Investors LP lifted its stake in shares of Regal Rexnord by 25.7% in the 2nd quarter. Viking Global Investors LP now owns 3,430,128 shares of the company’s stock valued at $497,231,000 after purchasing an additional 701,145 shares during the period. Dimensional Fund Advisors LP raised its stake in Regal Rexnord by 14.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,398,921 shares of the company’s stock worth $344,103,000 after buying an additional 303,378 shares during the period. Invesco Ltd. raised its stake in Regal Rexnord by 17.7% during the 3rd quarter. Invesco Ltd. now owns 1,500,000 shares of the company’s stock worth $215,160,000 after buying an additional 225,734 shares during the period. Finally, Geode Capital Management LLC raised its stake in Regal Rexnord by 4.7% during the 4th quarter. Geode Capital Management LLC now owns 1,231,262 shares of the company’s stock worth $172,806,000 after buying an additional 55,797 shares during the period. Institutional investors and hedge funds own 99.72% of the company’s stock.

Insider Buying and Selling at Regal Rexnord

In other Regal Rexnord news, CFO Robert Rehard sold 6,499 shares of Regal Rexnord stock in a transaction dated Friday, May 22nd. The stock was 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 of the company’s stock, valued at $5,593,000. This trade represents a 18.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Louis V. Pinkham sold 22,509 shares of Regal Rexnord stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $211.68, for a total value of $4,764,705.12. Following the completion of the sale, the chief executive officer directly owned 56,749 shares in the company, valued at $12,012,628.32. This represents a 28.40% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 30,305 shares of company stock valued at $6,341,869 in the last 90 days. 0.63% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

RRX has been the topic of several research analyst reports. Wall Street Zen downgraded Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, April 28th. Barclays raised their price objective on Regal Rexnord from $237.00 to $245.00 and gave the stock an “overweight” rating in a research note on Monday, March 23rd. KeyCorp raised their price objective on Regal Rexnord from $255.00 to $265.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. JPMorgan Chase & Co. raised their price objective on Regal Rexnord from $230.00 to $240.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. Finally, Citigroup raised their price objective on Regal Rexnord from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Monday, April 13th. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Regal Rexnord presently has an average rating of “Moderate Buy” and a consensus target price of $232.25.

Regal Rexnord Stock Performance

RRX opened at $210.02 on Tuesday. The business’s 50-day moving average price is $203.32 and its two-hundred day moving average price is $182.59. Regal Rexnord Corporation has a 1 year low of $127.96 and a 1 year high of $236.35. The company has a market capitalization of $13.98 billion, a price-to-earnings ratio of 48.84, a P/E/G ratio of 1.92 and a beta of 1.11. 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 released its quarterly earnings results on Thursday, May 7th. The company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.11 by $0.06. Regal Rexnord had a return on equity of 9.49% and a net margin of 4.78%.The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter last year, the business posted $2.15 EPS. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. Equities analysts expect that Regal Rexnord Corporation will post 10.63 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The company 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 $0.35 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.40 annualized dividend and a dividend yield of 0.7%. Regal Rexnord’s dividend payout ratio (DPR) is currently 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.