Oppenheimer Asset Management Inc. Boosts Holdings in Regal Rexnord Corporation $RRX

Oppenheimer Asset Management Inc. lifted its holdings in Regal Rexnord Corporation (NYSE:RRX) by 475.2% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,991 shares of the company’s stock after purchasing an additional 18,168 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Regal Rexnord were worth $3,154,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Regal Rexnord in the 2nd quarter valued at approximately $256,155,000. Nordea Investment Management AB purchased a new stake in shares of Regal Rexnord during the second quarter worth $224,889,000. Viking Global Investors LP raised its stake 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. Invesco Ltd. raised its stake in shares of Regal Rexnord by 36.6% in the second quarter. Invesco Ltd. now owns 1,274,266 shares of the company’s stock valued at $184,718,000 after acquiring an additional 341,437 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Regal Rexnord by 69.5% in the third quarter. Bank of New York Mellon Corp now owns 797,036 shares of the company’s stock valued at $114,327,000 after purchasing an additional 326,723 shares during the period. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Regal Rexnord

Here are the key news stories impacting Regal Rexnord this week:

• Positive Sentiment: Top analyst activity: KeyCorp/KeyBanc raised their outlook — price target was raised (to $255) and the firm reiterated an overweight/buy view, supporting upside expectations for RRX. Article Title
• Positive Sentiment: Market reaction to analyst upgrade: Coverage notes the stock hit a new 52?week high following the analyst upgrade, which can attract momentum and institutional interest. Regal Rexnord (NYSE:RRX) Sets New 52-Week High on Analyst Upgrade
• Positive Sentiment: Short interest fell meaningfully in January (down ~17%), lowering short pressure and reducing a potential headwind that can lead to upward price moves as shorts cover. No link provided
• Neutral Sentiment: Analysts drilling into Q4: Coverage and analyst Q&A from the Q4 earnings call highlight focus areas for growth and margins — useful for guidance on next-quarter expectations but not an immediate directional catalyst. Regal Rexnord’s Q4 earnings call: Our top 5 analyst questions
• Negative Sentiment: CEO Louis V. Pinkham sold 36,728 shares at an average ~$215.52 (~$7.9M), trimming his holding by ~30.6%; such large insider sales can concern investors about insider conviction. SEC Filing
• Negative Sentiment: CFO Robert Rehard sold 7,704 shares at ~\$216.72 (~\$1.67M), reducing his stake by ~18.4%; another executive sale that may weigh on sentiment. SEC Filing
• Negative Sentiment: EVP Cheryl Lewis sold 2,262 shares at ~\$215.73 (~\$488K), cutting her holding by ~14.6%; adds to the pattern of insider selling this week. SEC Filing

Insider Transactions at Regal Rexnord

In other news, Director Curtis W. Stoelting sold 4,500 shares of the business’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $180.00, for a total value of $810,000.00. Following the completion of the sale, the director directly owned 15,617 shares of the company’s stock, valued at approximately $2,811,060. The trade was a 22.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Robert Rehard sold 7,704 shares of the company’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $216.72, for a total value of $1,669,610.88. Following the completion of the sale, the chief financial officer directly owned 34,154 shares of the company’s stock, valued at approximately $7,401,854.88. This trade represents a 18.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 87,129 shares of company stock worth $16,136,908 over the last three months. 0.82% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on RRX shares. Weiss Ratings restated a “hold (c)” rating on shares of Regal Rexnord in a report on Thursday, January 22nd. Oppenheimer boosted their price objective on Regal Rexnord from $180.00 to $225.00 and gave the stock an “outperform” rating in a research report on Friday, February 6th. Jefferies Financial Group cut shares of Regal Rexnord from a “buy” rating to a “hold” rating and reduced their target price for the company from $170.00 to $160.00 in a report on Wednesday, December 10th. The Goldman Sachs Group lifted their price target on shares of Regal Rexnord from $170.00 to $230.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Barclays boosted their price target on shares of Regal Rexnord from $165.00 to $237.00 and gave the stock an “overweight” rating in a report on Monday. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Regal Rexnord has a consensus rating of “Moderate Buy” and a consensus price target of $227.50.

Regal Rexnord Stock Up 0.6%

Shares of NYSE:RRX opened at $224.04 on Thursday. The firm has a 50 day simple moving average of $158.03 and a 200-day simple moving average of $148.76. Regal Rexnord Corporation has a twelve month low of $90.56 and a twelve month high of $229.30. 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 company has a market capitalization of $14.87 billion, a PE ratio of 53.34, a P/E/G ratio of 2.07 and a beta of 1.13.

Regal Rexnord (NYSE:RRX) last posted its earnings results on Thursday, February 5th. The company reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. Regal Rexnord had a net margin of 4.71% and a return on equity of 9.60%. The firm had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same period last year, the firm posted $2.34 EPS. The company’s revenue was up 4.3% on a year-over-year basis. On average, equities analysts predict that Regal Rexnord Corporation will post 9.95 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 31st will be given a dividend of $0.35 per share. The ex-dividend date is Tuesday, March 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.6%. Regal Rexnord’s payout ratio is 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.