Mediolanum International Funds Ltd Decreases Position in Regal Rexnord Corporation $RRX

Mediolanum International Funds Ltd trimmed its position in Regal Rexnord Corporation (NYSE:RRX) by 9.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 113,845 shares of the company’s stock after selling 11,509 shares during the period. Mediolanum International Funds Ltd’s holdings in Regal Rexnord were worth $20,286,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of RRX. Victory Capital Management Inc. raised its holdings in shares of Regal Rexnord by 42.6% during the fourth quarter. Victory Capital Management Inc. now owns 5,658,365 shares of the company’s stock valued at $793,983,000 after acquiring an additional 1,690,264 shares during the last quarter. Viking Global Investors LP lifted its position in shares of Regal Rexnord by 25.7% in the second quarter. Viking Global Investors LP now owns 3,430,128 shares of the company’s stock valued at $497,231,000 after acquiring an additional 701,145 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Regal Rexnord by 5.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,530,092 shares of the company’s stock worth $355,031,000 after acquiring an additional 131,171 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Regal Rexnord by 27.1% in the fourth quarter. Invesco Ltd. now owns 1,905,828 shares of the company’s stock worth $267,426,000 after acquiring an additional 405,828 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Regal Rexnord by 115.5% during the first quarter. Bank of New York Mellon Corp now owns 1,836,264 shares of the company’s stock worth $343,859,000 after purchasing an additional 984,185 shares in the last quarter. 99.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Regal Rexnord

In other news, Director Robin A. Walker-Lee sold 1,297 shares of Regal Rexnord stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $213.85, for a total transaction of $277,363.45. Following the sale, the director owned 5,503 shares of the company’s stock, valued at approximately $1,176,816.55. The trade was a 19.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Robert Rehard sold 6,499 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $200.00, for a total value of $1,299,800.00. Following the completion of the transaction, the chief financial officer 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 in the last ninety days. 0.63% of the stock is owned by insiders.

Regal Rexnord Stock Performance

NYSE RRX opened at $207.29 on Monday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.08 and a current ratio of 2.17. The stock’s fifty day moving average is $211.75 and its two-hundred day moving average is $197.65. The firm has a market capitalization of $13.80 billion, a P/E ratio of 48.21, a price-to-earnings-growth ratio of 1.94 and a beta of 1.08. Regal Rexnord Corporation has a fifty-two week low of $127.96 and a fifty-two week high of $247.80.

Regal Rexnord (NYSE:RRX) last issued its earnings results on Thursday, May 7th. The company reported $2.17 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same period last year, the company earned $2.15 EPS. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, research analysts anticipate that Regal Rexnord Corporation will post 10.64 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 30th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.40 dividend on an annualized basis and a yield of 0.7%. Regal Rexnord’s payout ratio is 32.56%.

Wall Street Analyst Weigh In

RRX has been the subject of several recent research reports. Wall Street Zen downgraded Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Wolfe Research set a $250.00 target price on shares of Regal Rexnord in a report on Thursday, July 9th. DA Davidson assumed coverage on shares of Regal Rexnord in a research report on Tuesday, June 16th. They issued a “buy” rating and a $260.00 target price for the company. JPMorgan Chase & Co. increased their target price on shares of Regal Rexnord from $230.00 to $240.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Regal Rexnord in a research note on Tuesday, April 21st. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Regal Rexnord has a consensus rating of “Moderate Buy” and an average price target of $243.45.

About Regal Rexnord

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.