Evergreen Capital Management LLC Purchases Shares of 2,654 Regal Rexnord Corporation $RRX

Evergreen Capital Management LLC purchased a new stake in shares of Regal Rexnord Corporation (NYSE:RRX) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 2,654 shares of the company’s stock, valued at approximately $373,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of RRX. Victory Capital Management Inc. raised its position in shares of Regal Rexnord by 138.4% in the 3rd 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 in the last quarter. Viking Global Investors LP raised its position in shares of Regal Rexnord by 25.7% in the 2nd quarter. Viking Global Investors LP now owns 3,430,128 shares of the company’s stock worth $497,231,000 after acquiring an additional 701,145 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Regal Rexnord by 14.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,398,921 shares of the company’s stock worth $344,103,000 after acquiring an additional 303,378 shares in the last quarter. Nordea Investment Management AB raised its position in shares of Regal Rexnord by 30.7% in the 3rd quarter. Nordea Investment Management AB now owns 2,028,936 shares of the company’s stock worth $289,083,000 after acquiring an additional 476,802 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Regal Rexnord by 17.7% in the 3rd quarter. Invesco Ltd. now owns 1,500,000 shares of the company’s stock worth $215,160,000 after acquiring an additional 225,734 shares in the last quarter. Institutional investors own 99.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on RRX. Zacks Research upgraded Regal Rexnord from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 30th. Citigroup upped their price target on Regal Rexnord from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Monday, April 13th. Robert W. Baird set a $253.00 price target on Regal Rexnord in a research note on Friday, February 6th. Oppenheimer upped their price target on Regal Rexnord from $180.00 to $225.00 and gave the stock an “outperform” rating in a research note on Friday, February 6th. Finally, KeyCorp upped their price target on Regal Rexnord from $200.00 to $255.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 10th. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $229.75.

Insiders Place Their Bets

In other news, EVP Cheryl Lewis sold 2,262 shares of Regal Rexnord stock in a transaction dated 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 directly owned 13,219 shares of the company’s stock, valued at approximately $2,851,734.87. The trade was a 14.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Louis V. Pinkham sold 36,728 shares of Regal Rexnord stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $215.52, for a total value of $7,915,618.56. Following the completion of the sale, the chief executive officer directly owned 83,337 shares in the company, valued at $17,960,790.24. This trade represents a 30.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 53,451 shares of company stock valued at $11,386,689 in the last ninety days. Insiders own 0.63% of the company’s stock.

Regal Rexnord Stock Performance

RRX stock opened at $213.22 on Tuesday. The company has a market cap of $14.19 billion, a P/E ratio of 50.77, a price-to-earnings-growth ratio of 1.97 and a beta of 1.11. Regal Rexnord Corporation has a 1 year low of $102.23 and a 1 year high of $229.30. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.15 and a quick ratio of 1.10. The stock’s fifty day moving average price is $200.75 and its 200-day moving average price is $169.49.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings results on Thursday, February 5th. The company reported $2.51 earnings per share (EPS) 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 firm had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same period last year, the business posted $2.34 EPS. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, equities analysts forecast that Regal Rexnord Corporation will post 10.76 earnings per share for the current year.

Regal Rexnord Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.40 dividend on an annualized basis and a yield of 0.7%. Regal Rexnord’s dividend payout ratio (DPR) is currently 33.33%.

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.