Regal Rexnord Corporation $RRX Shares Sold by Regents Gate Capital LLP

Regents Gate Capital LLP lessened its stake in Regal Rexnord Corporation (NYSE:RRX) by 77.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 3,977 shares of the company’s stock after selling 13,732 shares during the period. Regents Gate Capital LLP’s holdings in Regal Rexnord were worth $558,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of RRX. Covestor Ltd boosted its holdings in Regal Rexnord by 81.6% in the fourth quarter. Covestor Ltd now owns 178 shares of the company’s stock valued at $25,000 after purchasing an additional 80 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new position in Regal Rexnord in the third quarter valued at $27,000. Garner Asset Management Corp acquired a new stake in shares of Regal Rexnord during the fourth quarter worth about $27,000. IFP Advisors Inc increased its position in Regal Rexnord by 34.0% during the fourth quarter. IFP Advisors Inc now owns 193 shares of the company’s stock worth $27,000 after buying an additional 49 shares during the period. Finally, Geneos Wealth Management Inc. raised its position in Regal Rexnord by 135.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock valued at $25,000 after purchasing an additional 127 shares during the last quarter. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Insider Buying and Selling

In related news, CFO Robert Rehard sold 6,499 shares of the 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 sale, the chief financial officer directly owned 27,965 shares of the company’s stock, valued at approximately $5,593,000. This represents a 18.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robin A. Walker-Lee sold 1,297 shares of the firm’s stock in a transaction dated 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 owned 5,503 shares of the company’s stock, valued at $1,176,816.55. This trade represents a 19.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 30,305 shares of company stock worth $6,341,869 in the last three months. Corporate insiders own 0.63% of the company’s stock.

Regal Rexnord Price Performance

Shares of NYSE:RRX opened at $211.05 on Friday. The firm has a market capitalization of $14.05 billion, a price-to-earnings ratio of 49.08, a price-to-earnings-growth ratio of 1.89 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. The business’s 50 day simple moving average is $204.86 and its 200-day simple moving average is $184.20. Regal Rexnord Corporation has a 12 month low of $127.96 and a 12 month high of $236.35.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings data 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. The firm had revenue of $1.48 billion during 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 period in the previous year, the firm posted $2.15 earnings per share. As a group, equities analysts forecast that Regal Rexnord Corporation will post 10.63 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, June 30th. Regal Rexnord’s payout ratio is 32.56%.

Analyst Upgrades and Downgrades

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

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.