Sei Investments Co. Raises Position in Regal Rexnord Corporation $RRX

Key Points

• Sei Investments increased its Regal Rexnord stake by 18.5% in the first quarter, bringing its holdings to 150,101 shares valued at approximately $28.1 million. Institutional investors collectively own 99.72% of the company.
• Regal Rexnord exceeded quarterly expectations, reporting $2.17 in EPS on $1.48 billion in revenue, with revenue rising 4.3% year over year. The company also declared a quarterly dividend of $0.35 per share, representing a 0.7% yield.
• Analyst sentiment remains favorable, with eight Buy ratings and three Holds and a consensus price target of $247 versus the stock’s $211.31 opening price. However, company insiders sold 30,305 shares worth $6.34 million over the past 90 days.

Sei Investments Co. lifted its holdings in Regal Rexnord Corporation (NYSE:RRX - Free Report) by 18.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 150,101 shares of the company's stock after purchasing an additional 23,447 shares during the quarter. Sei Investments Co. owned about 0.23% of Regal Rexnord worth $28,108,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RRX. AQR Capital Management LLC raised its stake in Regal Rexnord by 208.1% in the first quarter. AQR Capital Management LLC now owns 17,747 shares of the company's stock valued at $2,011,000 after buying an additional 11,987 shares during the last quarter. Jones Financial Companies Lllp grew its stake in shares of Regal Rexnord by 91.6% during the first quarter. Jones Financial Companies Lllp now owns 617 shares of the company's stock worth $70,000 after acquiring an additional 295 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in shares of Regal Rexnord by 135.1% during the first 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. Cetera Investment Advisers increased its holdings in shares of Regal Rexnord by 6.7% during the second quarter. Cetera Investment Advisers now owns 3,116 shares of the company's stock valued at $452,000 after acquiring an additional 196 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of Regal Rexnord during the second quarter valued at about $4,759,000. 99.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Regal Rexnord

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 shares were 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 of the company's stock, valued at approximately $12,012,628.32. This represents a 28.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Robert Rehard sold 6,499 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $200.00, for a total value of $1,299,800.00. Following the sale, the chief financial officer directly owned 27,965 shares in the company, valued at $5,593,000. This represents a 18.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 30,305 shares of company stock worth $6,341,869 over the last 90 days. 0.63% of the stock is currently owned by company insiders.

Regal Rexnord Trading Down 0.7%

Regal Rexnord stock opened at $211.31 on Tuesday. 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 Corporation has a 52 week low of $127.96 and a 52 week high of $247.80. The company has a market capitalization of $14.07 billion, a price-to-earnings ratio of 49.14, a price-to-earnings-growth ratio of 2.00 and a beta of 1.08. The stock has a 50-day moving average price of $212.80 and a 200 day moving average price of $200.44.

Regal Rexnord (NYSE:RRX - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $2.17 EPS for the quarter, beating analysts' consensus estimates of $2.11 by $0.06. Regal Rexnord had a return on equity of 9.49% and a net margin of 4.78%.The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the prior year, the firm earned $2.15 earnings per share. Regal Rexnord's revenue for the quarter was up 4.3% on a year-over-year basis. Sell-side analysts anticipate that Regal Rexnord Corporation will post 10.64 EPS for the current year.

Regal Rexnord Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 14th. Stockholders of record on Wednesday, September 30th 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 Wednesday, September 30th. Regal Rexnord's dividend payout ratio is 32.56%.

Analysts Set New Price Targets

RRX has been the subject of several research analyst reports. DA Davidson started coverage on shares of Regal Rexnord in a research report on Tuesday, June 16th. They issued a "buy" rating and a $260.00 price objective for the company. Weiss Ratings reissued a "hold (c)" rating on shares of Regal Rexnord in a research report on Friday, July 17th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Regal Rexnord in a research note on Monday, July 20th. They set a "buy" rating and a $286.00 price target on the stock. KeyCorp lifted their price objective on shares of Regal Rexnord from $255.00 to $265.00 and gave the stock an "overweight" rating in a research note on Thursday, May 7th. Finally, Oppenheimer reissued an "outperform" rating on shares of Regal Rexnord in a report on Friday, July 10th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $247.00.

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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