Regal Rexnord Corporation $RRX Shares Bought by Orion Porfolio Solutions LLC

Key Points

• Orion Portfolio Solutions LLC boosted its stake in Regal Rexnord (RRX) by 42.2% in Q3, adding 5,164 shares to hold 17,394 shares valued at about $2.495 million.
• Company insiders have been net sellers, disposing of 53,451 shares worth about $11.39 million over the past three months (notably EVP Cheryl Lewis and Director Curtis W. Stoelting), leaving insiders with just 0.82% ownership.
• Analysts have been raising targets (e.g., KeyCorp $255, Barclays $237, JPMorgan $230), giving an average rating of Moderate Buy and an average price target of $227.50; the company also slightly beat EPS estimates ($2.51 vs. $2.47) and declared a quarterly dividend of $0.35.

Orion Porfolio Solutions LLC lifted its holdings in shares of Regal Rexnord Corporation (NYSE:RRX - Free Report) by 42.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,394 shares of the company's stock after buying an additional 5,164 shares during the period. Orion Porfolio Solutions LLC's holdings in Regal Rexnord were worth $2,495,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. 1620 Investment Advisors Inc. boosted its stake in shares of Regal Rexnord by 8.6% in the third quarter. 1620 Investment Advisors Inc. now owns 944 shares of the company's stock valued at $135,000 after buying an additional 75 shares in the last quarter. Geneos Wealth Management Inc. raised its position in Regal Rexnord by 35.3% in the second quarter. Geneos Wealth Management Inc. now owns 299 shares of the company's stock worth $43,000 after acquiring an additional 78 shares in the last quarter. UMB Bank n.a. lifted its holdings in Regal Rexnord by 8.9% in 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 period. EverSource Wealth Advisors LLC lifted its holdings in Regal Rexnord by 42.5% in 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 period. Finally, Allworth Financial LP boosted its position in shares of Regal Rexnord by 85.7% during the 2nd quarter. Allworth Financial LP now owns 195 shares of the company's stock worth $28,000 after purchasing an additional 90 shares in the last quarter. 99.72% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Regal Rexnord

In other news, EVP Cheryl Lewis sold 2,262 shares of the firm's stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $215.73, for a total transaction of $487,981.26. Following the completion of the transaction, the executive vice president directly owned 13,219 shares of the company's stock, valued at $2,851,734.87. This trade represents a 14.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Curtis W. Stoelting sold 4,500 shares of Regal Rexnord stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $180.00, for a total value of $810,000.00. Following the transaction, the director owned 15,617 shares of the company's stock, valued at $2,811,060. This represents a 22.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 53,451 shares of company stock valued at $11,386,689 over the last three months. Company insiders own 0.82% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on RRX shares. Robert W. Baird set a $253.00 price target on shares of Regal Rexnord in a report on Friday, February 6th. KeyCorp boosted their price objective on shares of Regal Rexnord from $200.00 to $255.00 and gave the stock an "overweight" rating in a report on Tuesday, February 10th. Barclays upped their target price on shares of Regal Rexnord from $165.00 to $237.00 and gave the stock an "overweight" rating in a research report on Monday, February 9th. Zacks Research raised shares of Regal Rexnord from a "strong sell" rating to a "hold" rating in a report on Tuesday, December 30th. Finally, 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. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $227.50.

Regal Rexnord Trading Up 2.7%

NYSE:RRX opened at $201.28 on Wednesday. The company has a market capitalization of $13.38 billion, a PE ratio of 47.92, a price-to-earnings-growth ratio of 1.82 and a beta of 1.05. The company has a quick ratio of 1.10, a current ratio of 2.15 and a debt-to-equity ratio of 0.70. Regal Rexnord Corporation has a 52-week low of $90.56 and a 52-week high of $229.30. The stock has a fifty day simple moving average of $183.87 and a 200-day simple moving average of $157.51.

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

Regal Rexnord Dividend Announcement

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

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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