American Century Companies Inc. Takes Position in Regal Rexnord Corporation $RRX

American Century Companies Inc. purchased a new position in Regal Rexnord Corporation (NYSE:RRX) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 333,087 shares of the company’s stock, valued at approximately $47,778,000. American Century Companies Inc. owned 0.50% of Regal Rexnord at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Granite Investment Partners LLC purchased a new stake in Regal Rexnord during the 2nd quarter worth about $1,309,000. Oppenheimer Asset Management Inc. boosted its stake in shares of Regal Rexnord by 475.2% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 21,991 shares of the company’s stock worth $3,154,000 after purchasing an additional 18,168 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of Regal Rexnord by 30.7% during the third quarter. Nordea Investment Management AB now owns 2,028,936 shares of the company’s stock worth $289,083,000 after buying an additional 476,802 shares in the last quarter. Prudential Financial Inc. raised its position in shares of Regal Rexnord by 233.6% in the second quarter. Prudential Financial Inc. now owns 45,281 shares of the company’s stock valued at $6,564,000 after buying an additional 31,709 shares during the last quarter. Finally, Stanley Capital Management LLC purchased a new position in shares of Regal Rexnord during the second quarter valued at approximately $19,367,000. 99.72% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on RRX. JPMorgan Chase & Co. lifted their target price on shares of Regal Rexnord from $190.00 to $230.00 and gave the stock an “overweight” rating in a research note on Friday, February 6th. Citigroup lifted their price objective on Regal Rexnord from $180.00 to $230.00 and gave the company a “buy” rating in a research report on Monday, February 9th. Robert W. Baird set a $253.00 target price on Regal Rexnord in a research report on Friday, February 6th. The Goldman Sachs Group raised their price target on Regal Rexnord from $170.00 to $230.00 and gave the stock a “buy” rating in a research note on Monday, February 9th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Regal Rexnord in a research note on Thursday, January 22nd. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $227.50.

Insider Buying and Selling

In other Regal Rexnord news, CFO Robert Rehard sold 968 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $223.00, for a total value of $215,864.00. Following the completion of the transaction, the chief financial officer owned 34,447 shares in the company, valued at $7,681,681. This represents a 2.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Louis V. Pinkham sold 36,728 shares of Regal Rexnord stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $215.52, for a total transaction of $7,915,618.56. Following the sale, the chief executive officer owned 83,337 shares in the company, valued at $17,960,790.24. This represents a 30.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 53,451 shares of company stock worth $11,386,689 in the last ninety days. 0.82% of the stock is owned by corporate insiders.

Regal Rexnord Price Performance

RRX opened at $198.64 on Friday. Regal Rexnord Corporation has a 52-week low of $90.56 and a 52-week high of $229.30. The company has a 50 day moving average of $180.81 and a two-hundred day moving average of $156.39. The company has a market cap of $13.21 billion, a P/E ratio of 47.30, a P/E/G ratio of 1.95 and a beta of 1.05. The company has a quick ratio of 1.10, a current ratio of 2.15 and a debt-to-equity ratio of 0.70.

Regal Rexnord (NYSE:RRX) last issued its earnings results on Thursday, February 5th. The company reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. Regal Rexnord had a net margin of 4.71% and a return on equity of 9.60%. The business had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter last year, the firm posted $2.34 EPS. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. On average, analysts expect that Regal Rexnord Corporation will post 9.95 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 31st will be given a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $1.40 annualized dividend and a dividend yield of 0.7%. Regal Rexnord’s dividend payout ratio is presently 33.33%.

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.