Regal Rexnord Corporation $RRX Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its holdings in shares of Regal Rexnord Corporation (NYSE:RRX) by 97.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 260,853 shares of the company’s stock after purchasing an additional 128,468 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.39% of Regal Rexnord worth $37,419,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in RRX. Allworth Financial LP increased its stake in Regal Rexnord by 35.9% in the third quarter. Allworth Financial LP now owns 265 shares of the company’s stock valued at $38,000 after purchasing an additional 70 shares during the last quarter. 1620 Investment Advisors Inc. increased its stake in shares of Regal Rexnord by 8.6% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 944 shares of the company’s stock valued at $135,000 after acquiring an additional 75 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in shares of Regal Rexnord by 35.3% during the 2nd quarter. Geneos Wealth Management Inc. now owns 299 shares of the company’s stock valued at $43,000 after acquiring an additional 78 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of Regal Rexnord by 8.9% during the 3rd quarter. UMB Bank n.a. now owns 963 shares of the company’s stock worth $138,000 after acquiring an additional 79 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Regal Rexnord by 42.5% in the third quarter. EverSource Wealth Advisors LLC now owns 265 shares of the company’s stock worth $38,000 after acquiring an additional 79 shares during the last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.

Regal Rexnord Price Performance

RRX stock opened at $175.38 on Friday. The firm has a market cap of $11.67 billion, a P/E ratio of 41.76, a price-to-earnings-growth ratio of 1.63 and a beta of 1.05. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.10 and a current ratio of 2.15. Regal Rexnord Corporation has a 1 year low of $90.56 and a 1 year high of $229.30. The stock has a 50-day simple moving average of $190.08 and a 200-day simple moving average of $159.53.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings results on Thursday, February 5th. The company reported $2.51 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $1.54 billion. During the same period in the previous year, the company posted $2.34 EPS. Regal Rexnord’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, equities analysts predict that Regal Rexnord Corporation will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 31st will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Tuesday, March 31st. Regal Rexnord’s dividend payout ratio is 33.33%.

Insider Activity at Regal Rexnord

In other news, EVP Cheryl Lewis sold 2,262 shares of the company’s stock in a transaction dated Monday, February 9th. The shares were 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 in the company, valued at approximately $2,851,734.87. This represents a 14.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Curtis W. Stoelting sold 4,500 shares of the stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $180.00, for a total transaction of $810,000.00. Following the transaction, the director directly owned 15,617 shares in the company, valued at $2,811,060. The trade was a 22.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 53,451 shares of company stock worth $11,386,689 over the last quarter. Company insiders own 0.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. The Goldman Sachs Group increased their price target on shares of Regal Rexnord from $170.00 to $230.00 and gave the stock a “buy” rating in a research note on Monday, February 9th. JPMorgan Chase & Co. lifted their target price on Regal Rexnord from $190.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, February 6th. Barclays upped their price target on Regal Rexnord from $165.00 to $237.00 and gave the stock an “overweight” rating in a research note on Monday, February 9th. KeyCorp boosted their target price on Regal Rexnord from $200.00 to $255.00 and gave the stock an “overweight” rating in a report on Tuesday, February 10th. Finally, Zacks Research raised shares of Regal Rexnord from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 30th. 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 company has an average rating of “Moderate Buy” and a consensus target price of $227.50.

Regal Rexnord 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.