Calamos Advisors LLC Purchases 9,500 Shares of Regal Rexnord Corporation $RRX

Key Points

• Calamos Advisors LLC boosted its Regal Rexnord stake by 37.3% in the first quarter, buying 9,500 additional shares and bringing its total holdings to 35,000 shares worth about $6.55 million.
• Insider selling was notable, with CEO Louis V. Pinkham and Director Robin A. Walker-Lee selling shares in May; insiders have sold 30,305 shares worth about $6.34 million over the last three months.
• Regal Rexnord posted stronger-than-expected quarterly results, reporting $2.17 EPS on revenue of $1.48 billion, while analysts currently rate the stock a “Moderate Buy” with a consensus price target of $243.45.

Calamos Advisors LLC increased its holdings in shares of Regal Rexnord Corporation (NYSE:RRX - Free Report) by 37.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 35,000 shares of the company's stock after buying an additional 9,500 shares during the quarter. Calamos Advisors LLC owned 0.05% of Regal Rexnord worth $6,554,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. IFP Advisors Inc grew its stake in Regal Rexnord by 34.0% in the fourth quarter. IFP Advisors Inc now owns 193 shares of the company's stock valued at $27,000 after acquiring an additional 49 shares during the period. Parallel Advisors LLC raised its position in shares of Regal Rexnord by 6.5% during the fourth quarter. Parallel Advisors LLC now owns 888 shares of the company's stock worth $125,000 after purchasing an additional 54 shares during the period. Northwestern Mutual Investment Management Company LLC raised its position in shares of Regal Rexnord by 0.4% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 14,855 shares of the company's stock worth $2,084,000 after purchasing an additional 60 shares during the period. UMB Bank n.a. lifted its holdings in shares of Regal Rexnord by 6.2% during the 4th quarter. UMB Bank n.a. now owns 1,023 shares of the company's stock valued at $144,000 after purchasing an additional 60 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC lifted its holdings in shares of Regal Rexnord by 3.2% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 2,092 shares of the company's stock valued at $392,000 after purchasing an additional 65 shares in the last quarter. 99.72% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Regal Rexnord news, Director Robin A. Walker-Lee sold 1,297 shares of the firm'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 value of $277,363.45. Following the completion of the transaction, the director directly owned 5,503 shares in the company, valued at $1,176,816.55. This trade represents a 19.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Louis V. Pinkham sold 22,509 shares of the business's stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $211.68, for a total value of $4,764,705.12. Following the transaction, the chief executive officer directly owned 56,749 shares in the company, valued at $12,012,628.32. This trade represents a 28.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 30,305 shares of company stock valued at $6,341,869 in the last three months. 0.63% of the stock is currently owned by corporate insiders.

Regal Rexnord Price Performance

Shares of RRX opened at $211.63 on Wednesday. The company has a quick ratio of 1.08, a current ratio of 2.17 and a debt-to-equity ratio of 0.69. Regal Rexnord Corporation has a twelve month low of $127.96 and a twelve month high of $247.80. The stock has a market capitalization of $14.09 billion, a P/E ratio of 49.22, a P/E/G ratio of 1.96 and a beta of 1.08. The company has a 50 day moving average of $212.13 and a 200-day moving average of $196.25.

Regal Rexnord (NYSE:RRX - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $2.17 EPS for the quarter, topping analysts' consensus estimates of $2.11 by $0.06. Regal Rexnord had a net margin of 4.78% and a return on equity of 9.49%. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the previous year, the firm posted $2.15 earnings per share. The firm's revenue for the quarter was up 4.3% on a year-over-year basis. As a group, equities research analysts forecast that Regal Rexnord Corporation will post 10.64 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.40 annualized dividend and a yield of 0.7%. Regal Rexnord's payout ratio is 32.56%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on RRX shares. Wolfe Research set a $250.00 target price on Regal Rexnord in a research note on Thursday, July 9th. JPMorgan Chase & Co. lifted their price target on shares of Regal Rexnord from $230.00 to $240.00 and gave the company an "overweight" rating in a research note on Tuesday, May 26th. UBS Group set a $260.00 price target on shares of Regal Rexnord in a report on Monday, June 15th. DA Davidson began coverage on shares of Regal Rexnord in a research report on Tuesday, June 16th. They set a "buy" rating and a $260.00 price objective for the company. Finally, Barclays raised their price objective on shares of Regal Rexnord from $237.00 to $245.00 and gave the stock an "overweight" rating in a report on Monday, March 23rd. 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 stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $243.45.

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.

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