Regal Rexnord Corporation $RRX Shares Bought by Fort Washington Investment Advisors Inc. OH

Fort Washington Investment Advisors Inc. OH lifted its position in shares of Regal Rexnord Corporation (NYSE:RRX) by 65.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 158,582 shares of the company’s stock after purchasing an additional 62,530 shares during the quarter. Fort Washington Investment Advisors Inc. OH owned 0.24% of Regal Rexnord worth $22,252,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC boosted its holdings in Regal Rexnord by 95.5% during the fourth quarter. SG Americas Securities LLC now owns 18,980 shares of the company’s stock worth $2,663,000 after buying an additional 9,273 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in shares of Regal Rexnord in the fourth quarter worth about $279,000. GAMMA Investing LLC boosted its stake in shares of Regal Rexnord by 12.2% during the 4th quarter. GAMMA Investing LLC now owns 2,132 shares of the company’s stock worth $299,000 after acquiring an additional 232 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Regal Rexnord by 97.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 260,853 shares of the company’s stock worth $37,419,000 after acquiring an additional 128,468 shares in the last quarter. Finally, AIA Group Ltd acquired a new stake in shares of Regal Rexnord during the 3rd quarter valued at about $1,477,000. 99.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on RRX shares. Barclays lifted their price target on Regal Rexnord from $237.00 to $245.00 and gave the company an “overweight” rating in a research note on Monday, March 23rd. JPMorgan Chase & Co. raised their price objective on Regal Rexnord from $190.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, February 6th. Zacks Research upgraded Regal Rexnord from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 30th. The Goldman Sachs Group upped their target price on Regal Rexnord from $170.00 to $230.00 and gave the stock a “buy” rating in a research note on Monday, February 9th. Finally, KeyCorp lifted their price target on shares of Regal Rexnord from $200.00 to $255.00 and gave the company 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 assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $228.50.

Regal Rexnord Trading Down 2.2%

Shares of Regal Rexnord stock opened at $183.35 on Friday. The company has a current ratio of 2.15, a quick ratio of 1.10 and a debt-to-equity ratio of 0.70. Regal Rexnord Corporation has a twelve month low of $90.56 and a twelve month high of $229.30. The firm has a market capitalization of $12.21 billion, a PE ratio of 43.66, a P/E/G ratio of 1.74 and a beta of 1.05. The firm’s 50-day moving average price is $193.26 and its 200 day moving average price is $160.93.

Regal Rexnord (NYSE:RRX) last announced its earnings results on Thursday, February 5th. The company reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The business 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 business’s revenue was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.34 earnings per share. On average, sell-side analysts predict that Regal Rexnord Corporation will post 9.95 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

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

Insider Transactions at Regal Rexnord

In other Regal Rexnord news, EVP Cheryl Lewis sold 2,262 shares of the firm’s stock in a transaction 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 transaction, the executive vice president owned 13,219 shares in the company, valued at approximately $2,851,734.87. This trade represents a 14.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Curtis W. Stoelting sold 4,500 shares of Regal Rexnord stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $180.00, for a total transaction of $810,000.00. Following the sale, the director directly owned 15,617 shares in the company, valued at approximately $2,811,060. This trade represents a 22.37% decrease in their position. 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. Company insiders own 0.82% of the company’s stock.

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.