Corient Private Wealth LLC Has $655,000 Stock Position in Regal Rexnord Corporation $RRX

Key Points

• Corient Private Wealth cut its Regal Rexnord stake by 86% in the fourth quarter, leaving it with 4,638 shares valued at about $655,000.
• Several other institutional investors also adjusted positions, and 99.72% of Regal Rexnord shares are now owned by institutions and hedge funds.
• The company reported better-than-expected Q1 results, with EPS of $2.17 on revenue of $1.48 billion, while analysts maintain a Moderate Buy rating and a consensus price target of $237.80.

Corient Private Wealth LLC lowered its position in Regal Rexnord Corporation (NYSE:RRX - Free Report) by 86.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,638 shares of the company's stock after selling 28,408 shares during the quarter. Corient Private Wealth LLC's holdings in Regal Rexnord were worth $655,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of RRX. Victory Capital Management Inc. lifted its holdings in shares of Regal Rexnord by 42.6% during the 4th quarter. Victory Capital Management Inc. now owns 5,658,365 shares of the company's stock valued at $793,983,000 after buying an additional 1,690,264 shares during the last quarter. Viking Global Investors LP increased its holdings in Regal Rexnord by 25.7% in the second quarter. Viking Global Investors LP now owns 3,430,128 shares of the company's stock worth $497,231,000 after buying an additional 701,145 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Regal Rexnord by 5.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,530,092 shares of the company's stock worth $355,031,000 after buying an additional 131,171 shares during the last quarter. Invesco Ltd. increased its holdings in Regal Rexnord by 27.1% in the fourth quarter. Invesco Ltd. now owns 1,905,828 shares of the company's stock worth $267,426,000 after buying an additional 405,828 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in Regal Rexnord by 7.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,251,095 shares of the company's stock valued at $175,554,000 after acquiring an additional 85,242 shares during the last quarter. 99.72% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Regal Rexnord news, CEO Louis V. Pinkham sold 22,509 shares of the company's stock in a transaction 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 sale, 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robin A. Walker-Lee sold 1,297 shares of the company's stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $213.85, for a total transaction of $277,363.45. Following the sale, the director directly owned 5,503 shares in the company, valued at $1,176,816.55. This represents a 19.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 30,305 shares of company stock worth $6,341,869 in the last ninety days. Insiders own 0.63% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. KeyCorp boosted their price target on Regal Rexnord from $255.00 to $265.00 and gave the stock an "overweight" rating in a research report on Thursday, May 7th. UBS Group set a $260.00 price objective on Regal Rexnord in a research note on Monday, June 15th. Wall Street Zen upgraded Regal Rexnord from a "buy" rating to a "strong-buy" rating in a report on Saturday. Barclays upped their target price on Regal Rexnord from $237.00 to $245.00 and gave the stock an "overweight" rating in a research report on Monday, March 23rd. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Regal Rexnord in a report on Tuesday, April 21st. 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 data from MarketBeat.com, Regal Rexnord currently has an average rating of "Moderate Buy" and a consensus price target of $237.80.

Regal Rexnord Price Performance

Shares of NYSE:RRX opened at $218.39 on Friday. The business has a 50 day moving average price of $212.33 and a 200 day moving average price of $192.54. Regal Rexnord Corporation has a twelve month low of $127.96 and a twelve month high of $247.80. The company has a market cap of $14.54 billion, a price-to-earnings ratio of 50.79, a PEG ratio of 2.05 and a beta of 1.08. 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 (NYSE:RRX - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $2.11 by $0.06. Regal Rexnord had a return on equity of 9.49% and a net margin of 4.78%.The company had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.43 billion. During the same period in the prior year, the business earned $2.15 earnings per share. Regal Rexnord's revenue for the quarter was up 4.3% compared to the same quarter last year. Research analysts predict that Regal Rexnord Corporation will post 10.64 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 30th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.6%. The ex-dividend date is Tuesday, June 30th. Regal Rexnord's dividend payout ratio (DPR) is currently 32.56%.

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.

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