AIA Group Ltd Has $481,000 Stake in Regal Rexnord Corporation $RRX

AIA Group Ltd lowered its stake in Regal Rexnord Corporation (NYSE:RRX) by 62.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,567 shares of the company’s stock after selling 4,208 shares during the quarter. AIA Group Ltd’s holdings in Regal Rexnord were worth $481,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in RRX. Covestor Ltd lifted its stake in Regal Rexnord by 81.6% in the 4th quarter. Covestor Ltd now owns 178 shares of the company’s stock valued at $25,000 after purchasing an additional 80 shares during the last quarter. Garner Asset Management Corp bought a new stake in shares of Regal Rexnord during the fourth quarter worth $27,000. IFP Advisors Inc grew its stake in shares of 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 last quarter. Geneos Wealth Management Inc. increased its holdings in shares of Regal Rexnord by 135.1% during the first quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock worth $25,000 after buying an additional 127 shares in the last quarter. Finally, Advisory Services Network LLC bought a new position in shares of Regal Rexnord in the 3rd quarter valued at $35,000. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Regal Rexnord Stock Down 0.5%

Shares of RRX opened at $205.69 on Tuesday. The stock’s 50-day moving average price is $211.65 and its two-hundred day moving average price is $198.10. Regal Rexnord Corporation has a 12 month low of $127.96 and a 12 month high of $247.80. The company has a market capitalization of $13.69 billion, a PE ratio of 47.83, a PEG ratio of 1.94 and a beta of 1.08. The company has a current ratio of 2.17, a quick ratio of 1.08 and a debt-to-equity ratio of 0.69.

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 analysts’ consensus estimates of $2.11 by $0.06. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.43 billion. Regal Rexnord had a return on equity of 9.49% and a net margin of 4.78%.The firm’s revenue was up 4.3% compared to the same quarter last year. During the same period last year, the company earned $2.15 earnings per share. On average, analysts anticipate that Regal Rexnord Corporation will post 10.64 EPS for the current year.

Regal Rexnord Announces Dividend

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

Insider Activity

In other news, Director Robin A. Walker-Lee sold 1,297 shares of Regal Rexnord stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $213.85, for a total value of $277,363.45. Following the completion of the transaction, the director directly owned 5,503 shares of the company’s stock, valued at approximately $1,176,816.55. This trade represents a 19.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Louis V. Pinkham sold 22,509 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $211.68, for a total value of $4,764,705.12. Following the completion of the transaction, the chief executive officer directly owned 56,749 shares in the company, valued at $12,012,628.32. This represents a 28.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 30,305 shares of company stock valued at $6,341,869. 0.63% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Wolfe Research set a $250.00 price objective on Regal Rexnord in a report on Thursday, July 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Regal Rexnord in a report on Tuesday, April 21st. JPMorgan Chase & Co. lifted their price target on Regal Rexnord from $230.00 to $240.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. Barclays boosted their price target on Regal Rexnord from $237.00 to $245.00 and gave the stock an “overweight” rating in a report on Monday, March 23rd. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Regal Rexnord in a report on Monday. They issued a “buy” rating and a $286.00 price objective for the company. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $247.00.

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.