Calamos Advisors LLC Has $6.55 Million Position in Regal Rexnord Corporation $RRX

Calamos Advisors LLC grew its position in Regal Rexnord Corporation (NYSE:RRX) by 37.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,000 shares of the company’s stock after acquiring an additional 9,500 shares during the period. Calamos Advisors LLC’s holdings in Regal Rexnord were worth $6,554,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. State of Michigan Retirement System raised its holdings in shares of Regal Rexnord by 1.9% in the 1st quarter. State of Michigan Retirement System now owns 16,001 shares of the company’s stock valued at $2,996,000 after purchasing an additional 300 shares during the period. Innealta Capital LLC bought a new position in Regal Rexnord during the first quarter worth about $212,000. Fifth Third Bancorp grew its holdings in Regal Rexnord by 6,109.0% during the first quarter. Fifth Third Bancorp now owns 44,394 shares of the company’s stock worth $8,313,000 after purchasing an additional 43,679 shares during the period. Cedar Mountain Advisors LLC bought a new position in Regal Rexnord during the first quarter worth about $99,000. Finally, Summit Securities Group LLC acquired a new position in Regal Rexnord during the first quarter worth approximately $60,000. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Regal Rexnord

In other Regal Rexnord news, CFO Robert Rehard sold 6,499 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer directly 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Louis V. Pinkham sold 22,509 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer owned 56,749 shares of the company’s stock, valued at $12,012,628.32. The trade was a 28.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 30,305 shares of company stock valued at $6,341,869 in the last ninety days. 0.63% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on RRX shares. UBS Group set a $260.00 price objective on Regal Rexnord in a research report on Monday, June 15th. Oppenheimer reissued an “outperform” rating on shares of Regal Rexnord in a report on Friday. Citigroup increased their price target on Regal Rexnord from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Tuesday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Regal Rexnord in a report on Tuesday, April 21st. Finally, Wall Street Zen raised shares of Regal Rexnord from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 4th. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Regal Rexnord presently has an average rating of “Moderate Buy” and an average target price of $243.45.

Regal Rexnord Stock Performance

NYSE:RRX opened at $211.63 on Wednesday. The company has a market cap of $14.09 billion, a price-to-earnings ratio of 49.22, a PEG ratio of 1.96 and a beta of 1.08. Regal Rexnord Corporation has a fifty-two week low of $127.96 and a fifty-two week high of $247.80. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.08 and a current ratio of 2.17. The stock has a fifty day moving average price of $212.13 and a 200-day moving average price of $196.25.

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 company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Regal Rexnord had a return on equity of 9.49% and a net margin of 4.78%.Regal Rexnord’s revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the business earned $2.15 earnings per share. As a group, equities analysts anticipate that Regal Rexnord Corporation will post 10.64 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 30th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Tuesday, June 30th. Regal Rexnord’s dividend 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.