Jennison Associates LLC Has $41.51 Million Stake in Regal Rexnord Corporation $RRX

Key Points

• Jennison Associates trimmed its Q4 position in Regal Rexnord by 21.9%, selling 83,160 shares and now holding 295,785 shares worth $41.51 million (≈0.45% of the company), while institutional investors own about 99.72% of the stock.
• Analyst sentiment has firmed, with several price-target increases (JPMorgan to $230, KeyCorp to $255, Citi to $240) and a consensus rating of "Moderate Buy" with an average target of $229.75.
• Company snapshot: RRX trades near $212.71 with a $14.16B market cap and a PE of ~50.6; it slightly beat quarterly EPS ($2.51 vs. $2.47), declared a $0.35 quarterly dividend (0.7% yield), and insiders have sold about 53,451 shares (~$11.4M) in the past 90 days.

Jennison Associates LLC trimmed its position in Regal Rexnord Corporation (NYSE:RRX - Free Report) by 21.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 295,785 shares of the company's stock after selling 83,160 shares during the quarter. Jennison Associates LLC owned 0.45% of Regal Rexnord worth $41,505,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of RRX. Geneos Wealth Management Inc. raised its stake in shares of Regal Rexnord by 135.1% in the first quarter. Geneos Wealth Management Inc. now owns 221 shares of the company's stock valued at $25,000 after purchasing an additional 127 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of Regal Rexnord in the third quarter valued at $27,000. Root Financial Partners LLC acquired a new position in shares of Regal Rexnord in the third quarter valued at $28,000. SJS Investment Consulting Inc. raised its stake in shares of Regal Rexnord by 95.1% in the third quarter. SJS Investment Consulting Inc. now owns 199 shares of the company's stock valued at $29,000 after purchasing an additional 97 shares in the last quarter. Finally, Advisory Services Network LLC acquired a new position in shares of Regal Rexnord in the third quarter valued at $35,000. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on RRX. JPMorgan Chase & Co. upped their target price on Regal Rexnord from $190.00 to $230.00 and gave the company an "overweight" rating in a research note on Friday, February 6th. Weiss Ratings reiterated a "hold (c)" rating on shares of Regal Rexnord in a research report on Tuesday, April 21st. Wall Street Zen cut Regal Rexnord from a "strong-buy" rating to a "buy" rating in a research report on Tuesday. KeyCorp upped their price target on Regal Rexnord from $200.00 to $255.00 and gave the company an "overweight" rating in a research report on Tuesday, February 10th. Finally, Citigroup upped their price target on Regal Rexnord from $230.00 to $240.00 and gave the company a "buy" rating in a research report on Monday, April 13th. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $229.75.

Regal Rexnord Price Performance

Shares of RRX stock opened at $212.71 on Friday. Regal Rexnord Corporation has a 52 week low of $108.44 and a 52 week high of $229.30. The stock has a market capitalization of $14.16 billion, a PE ratio of 50.64, a PEG ratio of 2.00 and a beta of 1.15. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.10 and a current ratio of 2.15. The stock's fifty day moving average is $200.32 and its 200-day moving average is $170.57.

Regal Rexnord (NYSE:RRX - Get Free Report) last released its quarterly earnings results on Thursday, February 5th. The company reported $2.51 earnings per share (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 firm's revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the previous year, the business posted $2.34 earnings per share. Equities research analysts expect that Regal Rexnord Corporation will post 10.76 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 30th will be given a dividend of $0.35 per share. The ex-dividend date is Tuesday, June 30th. This represents a $1.40 annualized dividend and a yield of 0.7%. Regal Rexnord's dividend payout ratio is 33.33%.

Insider Activity at Regal Rexnord

In related 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 transaction of $487,981.26. Following the transaction, the executive vice president owned 13,219 shares in the company, valued at $2,851,734.87. This represents a 14.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Curtis W. Stoelting sold 4,500 shares of the company's 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 owned 15,617 shares in the company, valued at approximately $2,811,060. This trade represents a 22.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 53,451 shares of company stock worth $11,386,689 in the last 90 days. Corporate insiders own 0.63% of the company's stock.

About Regal Rexnord

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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