Barclays PLC Raises Position in Regal Rexnord Corporation $RRX

Barclays PLC boosted its position in shares of Regal Rexnord Corporation (NYSE:RRX) by 12.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 332,839 shares of the company’s stock after buying an additional 37,054 shares during the period. Barclays PLC owned 0.50% of Regal Rexnord worth $47,742,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Orion Porfolio Solutions LLC boosted its holdings in Regal Rexnord by 42.2% in the 3rd quarter. Orion Porfolio Solutions LLC now owns 17,394 shares of the company’s stock valued at $2,495,000 after purchasing an additional 5,164 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Regal Rexnord by 14.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,398,921 shares of the company’s stock valued at $344,103,000 after buying an additional 303,378 shares during the period. Cresset Asset Management LLC acquired a new position in Regal Rexnord in the third quarter valued at approximately $427,000. Teachers Retirement System of The State of Kentucky grew its position in Regal Rexnord by 55.2% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 124,005 shares of the company’s stock worth $17,788,000 after acquiring an additional 44,100 shares during the period. Finally, Victory Capital Management Inc. grew its position in Regal Rexnord by 138.4% in the third quarter. Victory Capital Management Inc. now owns 3,968,101 shares of the company’s stock worth $566,981,000 after acquiring an additional 2,303,373 shares during the period. Institutional investors and hedge funds own 99.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on RRX shares. Oppenheimer lifted their target price on Regal Rexnord from $180.00 to $225.00 and gave the company an “outperform” rating in a research report on Friday, February 6th. Barclays raised their price objective on Regal Rexnord from $165.00 to $237.00 and gave the stock an “overweight” rating in a research report on Monday, February 9th. The Goldman Sachs Group boosted their price objective on shares of Regal Rexnord from $170.00 to $230.00 and gave the company a “buy” rating in a report on Monday, February 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Regal Rexnord in a research report on Thursday, January 22nd. Finally, Jefferies Financial Group lowered shares of Regal Rexnord from a “buy” rating to a “hold” rating and lowered their target price for the stock from $170.00 to $160.00 in a research note on Wednesday, December 10th. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Regal Rexnord currently has an average rating of “Moderate Buy” and a consensus price target of $227.50.

Insider Buying and Selling at Regal Rexnord

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 transaction of $215,864.00. Following the completion of the sale, the chief financial officer directly owned 34,447 shares of the company’s stock, 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 at the SEC website. Also, EVP Cheryl Lewis sold 2,262 shares of the company’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $215.73, for a total value of $487,981.26. Following the sale, the executive vice president owned 13,219 shares of the company’s stock, valued at $2,851,734.87. This trade represents a 14.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 53,451 shares of company stock worth $11,386,689 over the last three months. 0.82% of the stock is currently owned by corporate insiders.

Regal Rexnord Price Performance

Shares of RRX opened at $195.65 on Tuesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.15 and a quick ratio of 1.10. Regal Rexnord Corporation has a 1-year low of $90.56 and a 1-year high of $229.30. The stock has a market cap of $13.01 billion, a PE ratio of 46.58, a price-to-earnings-growth ratio of 1.73 and a beta of 1.05. The firm has a fifty day moving average price of $182.69 and a 200 day moving average price of $157.18.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings data on Thursday, February 5th. The company reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The company had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Regal Rexnord had a return on equity of 9.60% and a net margin of 4.71%.The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.34 earnings per share. As a group, sell-side analysts anticipate that Regal Rexnord Corporation will post 9.95 EPS for the current year.

Regal Rexnord Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 31st will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, March 31st. 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.