Regal Rexnord Corporation $RRX Stock Holdings Lifted by Earnest Partners LLC

Key Points

• Earnest Partners LLC increased its stake in Regal Rexnord by 22.3% in Q3 to 379,872 shares (about $54.5M), with institutional investors now owning roughly 99.72% of the company.
• CEO Louis V. Pinkham sold 36,728 shares for about $7.92M on Feb. 9, and insiders have sold a total of 53,451 shares (~$11.39M) over the past 90 days, leaving insiders with roughly 0.82% ownership.
• Wall Street's consensus is a “Moderate Buy” with an average target of $227.50; the stock trades near $186, has a PE of 44.4 and market cap of $12.4B, and the company announced a $0.35 quarterly dividend (annual $1.40, ~0.8% yield).

Earnest Partners LLC grew its stake in shares of Regal Rexnord Corporation (NYSE:RRX - Free Report) by 22.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 379,872 shares of the company's stock after purchasing an additional 69,172 shares during the period. Earnest Partners LLC owned about 0.57% of Regal Rexnord worth $54,489,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of RRX. Brevan Howard Capital Management LP lifted its position in shares of Regal Rexnord by 311.0% in the 3rd quarter. Brevan Howard Capital Management LP now owns 8,891 shares of the company's stock valued at $1,275,000 after acquiring an additional 6,728 shares in the last quarter. California Public Employees Retirement System grew its position in Regal Rexnord by 7.8% during the 3rd quarter. California Public Employees Retirement System now owns 114,234 shares of the company's stock worth $16,386,000 after purchasing an additional 8,224 shares in the last quarter. Bank of America Corp DE raised its stake in Regal Rexnord by 25.6% during the 3rd quarter. Bank of America Corp DE now owns 462,286 shares of the company's stock valued at $66,310,000 after purchasing an additional 94,205 shares during the period. Creative Planning raised its stake in Regal Rexnord by 7.0% during the 3rd quarter. Creative Planning now owns 8,133 shares of the company's stock valued at $1,167,000 after purchasing an additional 535 shares during the period. Finally, Lazard Asset Management LLC purchased a new stake in shares of Regal Rexnord in the third quarter valued at $1,428,000. Institutional investors and hedge funds own 99.72% of the company's stock.

Insider Buying and Selling at Regal Rexnord

In other news, CEO Louis V. Pinkham sold 36,728 shares of the stock in a transaction on Monday, February 9th. The shares were sold at an average price of $215.52, for a total transaction of $7,915,618.56. Following the transaction, the chief executive officer owned 83,337 shares in the company, valued at $17,960,790.24. This represents a 30.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Robert Rehard sold 968 shares of the firm's stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $223.00, for a total transaction of $215,864.00. Following the transaction, the chief financial officer owned 34,447 shares in the company, valued at $7,681,681. This represents a 2.73% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 53,451 shares of company stock valued at $11,386,689. 0.82% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Robert W. Baird set a $253.00 price objective on Regal Rexnord in a research report on Friday, February 6th. Weiss Ratings reiterated a "hold (c)" rating on shares of Regal Rexnord in a report on Thursday, January 22nd. KeyCorp raised their price target 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. JPMorgan Chase & Co. boosted their price objective 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. Finally, Jefferies Financial Group lowered shares of Regal Rexnord from a "buy" rating to a "hold" rating and dropped their price objective for the company from $170.00 to $160.00 in a research note on Wednesday, December 10th. 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 MarketBeat, Regal Rexnord presently has an average rating of "Moderate Buy" and an average target price of $227.50.

Regal Rexnord Stock Down 0.6%

RRX opened at $186.47 on Monday. Regal Rexnord Corporation has a fifty-two week low of $90.56 and a fifty-two week high of $229.30. The business has a 50-day moving average of $186.85 and a 200-day moving average of $158.35. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.15 and a quick ratio of 1.10. The company has a market capitalization of $12.40 billion, a PE ratio of 44.40, a price-to-earnings-growth ratio of 1.73 and a beta of 1.05.

Regal Rexnord (NYSE:RRX - Get Free Report) last announced its quarterly earnings results on Thursday, February 5th. The company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.04. Regal Rexnord had a return on equity of 9.60% and a net margin of 4.71%.The business had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same period in the previous year, the company earned $2.34 EPS. The firm's revenue was up 4.3% on a year-over-year basis. Equities research analysts forecast that Regal Rexnord Corporation will post 9.95 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 31st will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, March 31st. Regal Rexnord's payout ratio is currently 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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