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

Sei Investments Co. lifted its position in shares of Regal Rexnord Corporation (NYSE:RRX) by 18.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 150,101 shares of the company’s stock after purchasing an additional 23,447 shares during the quarter. Sei Investments Co.’s holdings in Regal Rexnord were worth $28,108,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Levin Capital Strategies L.P. acquired a new position in shares of Regal Rexnord in the 1st quarter valued at $15,349,000. Parallel Advisors LLC grew its position in Regal Rexnord by 5.6% during the first quarter. Parallel Advisors LLC now owns 938 shares of the company’s stock valued at $176,000 after buying an additional 50 shares during the period. Swiss National Bank grew its position in Regal Rexnord by 0.3% during the first quarter. Swiss National Bank now owns 124,717 shares of the company’s stock valued at $23,355,000 after buying an additional 400 shares during the period. Jennison Associates LLC increased its holdings in Regal Rexnord by 22.8% in the first quarter. Jennison Associates LLC now owns 363,118 shares of the company’s stock valued at $67,997,000 after buying an additional 67,333 shares in the last quarter. Finally, California Public Employees Retirement System increased its holdings in Regal Rexnord by 3.0% in the first quarter. California Public Employees Retirement System now owns 126,113 shares of the company’s stock valued at $23,616,000 after buying an additional 3,636 shares in the last quarter. 99.72% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Regal Rexnord news, CFO Robert Rehard sold 6,499 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $200.00, for a total transaction of $1,299,800.00. Following the completion of the transaction, the chief financial officer owned 27,965 shares of the company’s stock, valued at $5,593,000. This represents a 18.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robin A. Walker-Lee sold 1,297 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $213.85, for a total value of $277,363.45. Following the completion of the transaction, the director owned 5,503 shares in the company, valued at approximately $1,176,816.55. This trade represents a 19.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 30,305 shares of company stock worth $6,341,869. Insiders own 0.63% of the company’s stock.

Regal Rexnord Stock Performance

NYSE:RRX opened at $211.31 on Tuesday. 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 has a market capitalization of $14.07 billion, a PE ratio of 49.14, a P/E/G ratio of 2.00 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. The company has a fifty day moving average of $212.80 and a two-hundred day moving average of $200.44.

Regal Rexnord (NYSE:RRX) last announced its earnings results on Thursday, May 7th. The company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.11 by $0.06. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.43 billion. Regal Rexnord had a net margin of 4.78% and a return on equity of 9.49%. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter last year, the business earned $2.15 earnings per share. As a group, research analysts forecast that Regal Rexnord Corporation will post 10.64 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 14th. Investors of record on Wednesday, September 30th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.40 dividend on an annualized basis and a yield of 0.7%. Regal Rexnord’s dividend payout ratio (DPR) is currently 32.56%.

Analysts Set New Price Targets

Several research firms have recently issued reports on RRX. Oppenheimer reissued an “outperform” rating on shares of Regal Rexnord in a research note on Friday, July 10th. Wall Street Zen lowered Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 18th. JPMorgan Chase & Co. upped their price target on Regal Rexnord from $230.00 to $240.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Citigroup increased their price target on Regal Rexnord from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Finally, Wolfe Research set a $250.00 price objective on Regal Rexnord in a report on Thursday, July 9th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average 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.