Cramer Rosenthal Mcglynn LLC Acquires 27,773 Shares of Regal Rexnord Corporation $RRX
by Kim Johansen · The Markets DailyCramer Rosenthal Mcglynn LLC boosted its holdings in Regal Rexnord Corporation (NYSE:RRX – Free Report) by 9.9% in the third quarter, HoldingsChannel reports. The firm owned 307,264 shares of the company’s stock after purchasing an additional 27,773 shares during the period. Regal Rexnord comprises about 2.7% of Cramer Rosenthal Mcglynn LLC’s portfolio, making the stock its 5th largest holding. Cramer Rosenthal Mcglynn LLC’s holdings in Regal Rexnord were worth $44,074,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Geneos Wealth Management Inc. boosted its stake in shares of Regal Rexnord by 135.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock valued at $25,000 after buying an additional 127 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in Regal Rexnord in the third quarter valued at $27,000. Allworth Financial LP boosted its stake in Regal Rexnord by 85.7% during the 2nd quarter. Allworth Financial LP now owns 195 shares of the company’s stock valued at $28,000 after acquiring an additional 90 shares during the last quarter. Root Financial Partners LLC acquired a new position in Regal Rexnord during the 3rd quarter worth $28,000. Finally, SJS Investment Consulting Inc. increased its position in shares of Regal Rexnord by 95.1% in the 3rd quarter. SJS Investment Consulting Inc. now owns 199 shares of the company’s stock worth $29,000 after purchasing an additional 97 shares during the last quarter. 99.72% of the stock is currently owned by hedge funds and other institutional investors.
Regal Rexnord Trading Down 5.2%
Shares of NYSE RRX opened at $198.64 on Friday. Regal Rexnord Corporation has a 12-month low of $90.56 and a 12-month high of $229.30. The company has a market cap of $13.21 billion, a price-to-earnings ratio of 47.30, a price-to-earnings-growth ratio of 1.95 and a beta of 1.05. The company has a current ratio of 2.15, a quick ratio of 1.10 and a debt-to-equity ratio of 0.70. The stock’s 50 day simple moving average is $180.81 and its 200 day simple moving average is $156.39.
Regal Rexnord (NYSE:RRX – Get Free Report) last issued its earnings results on Thursday, February 5th. The company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.04. The firm had revenue of $1.52 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period last year, the company earned $2.34 earnings per share. Equities research analysts expect that Regal Rexnord Corporation will post 9.95 EPS for the current year.
Regal Rexnord Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 14th. Investors 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 annualized dividend and a yield of 0.7%. Regal Rexnord’s dividend payout ratio (DPR) is currently 33.33%.
Insider Activity
In other news, CFO Robert Rehard sold 968 shares of Regal Rexnord stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $223.00, for a total transaction of $215,864.00. Following the sale, the chief financial officer owned 34,447 shares of the company’s stock, valued at approximately $7,681,681. The trade was a 2.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Cheryl Lewis sold 2,262 shares of the business’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $215.73, for a total value of $487,981.26. Following the transaction, the executive vice president owned 13,219 shares of the company’s stock, valued at approximately $2,851,734.87. This represents a 14.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 53,451 shares of company stock valued at $11,386,689. 0.82% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on RRX shares. Barclays lifted their price target on Regal Rexnord from $165.00 to $237.00 and gave the stock an “overweight” rating in a research note on Monday, February 9th. JPMorgan Chase & Co. lifted their target price on Regal Rexnord from $190.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, February 6th. Jefferies Financial Group downgraded Regal Rexnord from a “buy” rating to a “hold” rating and lowered their price target for the company from $170.00 to $160.00 in a report on Wednesday, December 10th. Citigroup raised their price objective on Regal Rexnord from $180.00 to $230.00 and gave the stock a “buy” rating in a research note on Monday, February 9th. Finally, Robert W. Baird set a $253.00 price objective on shares of Regal Rexnord in a report on Friday, February 6th. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Regal Rexnord presently has a consensus rating of “Moderate Buy” and an average price target of $227.50.
Read Our Latest Stock Analysis on RRX
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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