Regal Rexnord Corporation $RRX Shares Acquired by Calamos Advisors LLC

Calamos Advisors LLC lifted its position in Regal Rexnord Corporation (NYSE:RRX) by 13.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,500 shares of the company’s stock after purchasing an additional 3,000 shares during the quarter. Calamos Advisors LLC’s holdings in Regal Rexnord were worth $3,578,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Victory Capital Management Inc. lifted its stake in Regal Rexnord by 138.4% during the 3rd quarter. Victory Capital Management Inc. now owns 3,968,101 shares of the company’s stock valued at $566,981,000 after acquiring an additional 2,303,373 shares during the period. Viking Global Investors LP raised its holdings in shares of Regal Rexnord by 25.7% during the second quarter. Viking Global Investors LP now owns 3,430,128 shares of the company’s stock worth $497,231,000 after purchasing an additional 701,145 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Regal Rexnord by 14.5% during the third quarter. Dimensional Fund Advisors LP now owns 2,398,921 shares of the company’s stock valued at $344,103,000 after purchasing an additional 303,378 shares during the period. Nordea Investment Management AB boosted its holdings in Regal Rexnord by 30.7% in the third quarter. Nordea Investment Management AB now owns 2,028,936 shares of the company’s stock valued at $289,083,000 after purchasing an additional 476,802 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in Regal Rexnord by 17.7% in the third quarter. Invesco Ltd. now owns 1,500,000 shares of the company’s stock valued at $215,160,000 after purchasing an additional 225,734 shares during the last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on RRX shares. Barclays lifted their price objective on Regal Rexnord from $237.00 to $245.00 and gave the company an “overweight” rating in a research note on Monday, March 23rd. Wall Street Zen upgraded Regal Rexnord from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 20th. Robert W. Baird set a $253.00 target price on Regal Rexnord in a report on Friday, February 6th. Oppenheimer boosted their price target on Regal Rexnord from $180.00 to $225.00 and gave the company an “outperform” rating in a report on Friday, February 6th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Regal Rexnord in a research report on Tuesday, April 21st. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $229.75.

Insiders Place Their Bets

In other Regal Rexnord news, CFO Robert Rehard sold 7,704 shares of the company’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $216.72, for a total transaction of $1,669,610.88. Following the completion of the transaction, the chief financial officer directly owned 34,154 shares in the company, valued at approximately $7,401,854.88. This represents a 18.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Louis V. Pinkham sold 36,728 shares of the stock in a transaction 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 transaction, the chief executive officer directly owned 83,337 shares in the company, valued at approximately $17,960,790.24. The trade was a 30.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 53,451 shares of company stock worth $11,386,689. Corporate insiders own 0.63% of the company’s stock.

Regal Rexnord Price Performance

NYSE:RRX opened at $212.24 on Monday. 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 Corporation has a 52 week low of $102.23 and a 52 week high of $229.30. The stock’s 50-day moving average price is $200.90 and its 200-day moving average price is $169.01. The stock has a market capitalization of $14.13 billion, a PE ratio of 50.53, a price-to-earnings-growth ratio of 1.97 and a beta of 1.11.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings results on Thursday, February 5th. The company reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. Regal Rexnord had a return on equity of 9.60% and a net margin of 4.71%.The company had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter in the prior year, the firm posted $2.34 EPS. Regal Rexnord’s quarterly revenue was up 4.3% compared to the same quarter last year. As a group, equities analysts expect that Regal Rexnord Corporation will post 10.76 EPS for the current fiscal year.

About Regal Rexnord

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.