Strategic Family Wealth Counselors L.L.C. purchased a new position in Regal Rexnord Corporation (NYSE:RRX – Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,775 shares of the company’s stock, valued at approximately $423,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Allworth Financial LP raised its stake in Regal Rexnord by 35.9% during the third quarter. Allworth Financial LP now owns 265 shares of the company’s stock worth $38,000 after purchasing an additional 70 shares during the period. CWM LLC increased its position in shares of Regal Rexnord by 7.2% during the fourth quarter. CWM LLC now owns 1,075 shares of the company’s stock valued at $151,000 after acquiring an additional 72 shares during the last quarter. Geneos Wealth Management Inc. increased its position in shares of Regal Rexnord by 35.3% during the second 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. increased its position in shares of Regal Rexnord by 8.9% during the third quarter. UMB Bank n.a. now owns 963 shares of the company’s stock valued at $138,000 after acquiring an additional 79 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of Regal Rexnord by 42.5% during the third quarter. EverSource Wealth Advisors LLC now owns 265 shares of the company’s stock valued at $38,000 after acquiring an additional 79 shares during the last quarter. 99.72% of the stock is owned by hedge funds and other institutional investors.
Regal Rexnord Trading Down 1.7%
Shares of RRX stock opened at $206.15 on Thursday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.08 and a current ratio of 2.17. The stock has a market capitalization of $13.72 billion, a P/E ratio of 47.94, a price-to-earnings-growth ratio of 1.97 and a beta of 1.15. The company has a 50 day moving average price of $199.53 and a 200 day moving average price of $174.44. Regal Rexnord Corporation has a fifty-two week low of $127.96 and a fifty-two week high of $236.35.
Regal Rexnord Announces Dividend
The company 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. This represents a $1.40 annualized dividend and a yield of 0.7%. The ex-dividend date is Tuesday, June 30th. Regal Rexnord’s payout ratio is 32.56%.
Insiders Place Their Bets
In other Regal Rexnord news, CEO Louis V. Pinkham sold 22,509 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $211.68, for a total transaction of $4,764,705.12. Following the completion of the transaction, the chief executive officer owned 56,749 shares in the company, valued at $12,012,628.32. The trade was a 28.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robin A. Walker-Lee sold 1,297 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $213.85, for a total transaction of $277,363.45. Following the transaction, the director owned 5,503 shares of the company’s stock, valued at $1,176,816.55. This trade represents a 19.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 26,063 shares of company stock worth $5,545,547 in the last 90 days. Corporate insiders own 0.63% of the company’s stock.
Analyst Ratings Changes
RRX has been the subject of a number of recent analyst reports. Barclays lifted their price target on shares of Regal Rexnord from $237.00 to $245.00 and gave the company an “overweight” rating in a research report on Monday, March 23rd. JPMorgan Chase & Co. lifted their price target on shares of Regal Rexnord from $190.00 to $230.00 and gave the company an “overweight” rating in a research report on Friday, February 6th. Oppenheimer lifted their price target on shares of Regal Rexnord from $180.00 to $225.00 and gave the company an “outperform” rating in a research report on Friday, February 6th. Robert W. Baird set a $253.00 price target on shares of Regal Rexnord in a research report on Friday, February 6th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Regal Rexnord in a report on Tuesday, April 21st. Six investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Regal Rexnord presently has a consensus rating of “Moderate Buy” and an average price target of $231.00.
Get Our Latest Stock Report on RRX
Regal Rexnord Company 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.
Featured Articles
- Five stocks we like better than Regal Rexnord
- D-Wave Earnings Looked Weak, But Investors May Be Missing This
- Nebius Upside Expands as AI Feedback Loop Intensifies
- Insider Trades: Okta and Abbott See Buys, Micron Insiders Sell
- Plug Power Flips The Switch On Profitability
Want to see what other hedge funds are holding RRX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Regal Rexnord Corporation (NYSE:RRX – Free Report).
Receive News & Ratings for Regal Rexnord Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Regal Rexnord and related companies with MarketBeat.com's FREE daily email newsletter.
