Regal Rexnord Corporation $RRX Shares Acquired by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors increased its stake in Regal Rexnord by 14.5% to 2,398,921 shares (about 3.61% of the company), worth roughly $344.1 million at quarter end.
• Multiple analysts have raised price targets and ratings, leaving the stock with a consensus "Moderate Buy" and an average price target of $227.50.
• Company insiders have been net sellers recently—EVP and CFO sold shares on Feb. 9, and insiders disposed of 53,451 shares worth about $11.39 million over the last 90 days.

Dimensional Fund Advisors LP grew its stake in Regal Rexnord Corporation (NYSE:RRX - Free Report) by 14.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,398,921 shares of the company's stock after buying an additional 303,378 shares during the period. Dimensional Fund Advisors LP owned 3.61% of Regal Rexnord worth $344,103,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in RRX. Geneos Wealth Management Inc. raised its stake in Regal Rexnord by 135.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 221 shares of the company's stock worth $25,000 after acquiring an additional 127 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of Regal Rexnord in the third quarter valued at about $27,000. Allworth Financial LP raised its stake in shares of Regal Rexnord by 85.7% in the second quarter. Allworth Financial LP now owns 195 shares of the company's stock worth $28,000 after purchasing an additional 90 shares during the last quarter. Root Financial Partners LLC acquired a new stake in shares of Regal Rexnord during the third quarter worth about $28,000. Finally, SJS Investment Consulting Inc. boosted its position in 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 buying an additional 97 shares during the last quarter. 99.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. The Goldman Sachs Group raised their price target on shares of Regal Rexnord from $170.00 to $230.00 and gave the stock a "buy" rating in a research report on Monday, February 9th. KeyCorp increased their price objective on shares of Regal Rexnord from $200.00 to $255.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 10th. Robert W. Baird set a $253.00 target price on shares of Regal Rexnord in a research report on Friday, February 6th. Zacks Research raised shares of Regal Rexnord from a "strong sell" rating to a "hold" rating in a report on Tuesday, December 30th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Regal Rexnord in a research note on Thursday, January 22nd. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $227.50.

Insiders Place Their Bets

In other news, EVP Cheryl Lewis sold 2,262 shares of the stock in a transaction that occurred on Monday, February 9th. The stock was 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 trade represents a 14.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Robert Rehard sold 7,704 shares of Regal Rexnord stock in a transaction on Monday, February 9th. The shares were sold at an average price of $216.72, for a total transaction of $1,669,610.88. Following the completion of the sale, the chief financial officer directly owned 34,154 shares in the company, valued at $7,401,854.88. This represents a 18.41% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 53,451 shares of company stock valued at $11,386,689. Corporate insiders own 0.82% of the company's stock.

Regal Rexnord Stock Down 5.2%

RRX opened at $198.64 on Friday. The company has a fifty day moving average of $180.81 and a two-hundred day moving average of $156.39. The stock has a market capitalization of $13.21 billion, a price-to-earnings ratio of 47.30, a PEG ratio of 1.95 and a beta of 1.05. Regal Rexnord Corporation has a fifty-two week low of $90.56 and a fifty-two week high of $229.30. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.10 and a current ratio of 2.15.

Regal Rexnord (NYSE:RRX - Get Free Report) last posted 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. Regal Rexnord had a return on equity of 9.60% and a net margin of 4.71%.The firm had revenue of $1.52 billion for the quarter, compared to analysts' expectations of $1.54 billion. During the same period last year, the firm earned $2.34 EPS. The company's quarterly revenue was up 4.3% on a year-over-year basis. On average, research analysts expect that Regal Rexnord Corporation will post 9.95 earnings per share for the current year.

Regal Rexnord Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 31st will be given a $0.35 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.7%. Regal Rexnord's payout ratio is 33.33%.

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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