Regal Rexnord Corporation $RRX Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its holdings in Regal Rexnord Corporation (NYSE:RRX) by 42.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,658,365 shares of the company’s stock after purchasing an additional 1,690,264 shares during the quarter. Victory Capital Management Inc. owned approximately 0.09% of Regal Rexnord worth $793,983,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in RRX. Norges Bank acquired a new position in Regal Rexnord in the fourth quarter worth $121,301,000. Viking Global Investors LP boosted its holdings in Regal Rexnord by 25.7% in the second quarter. Viking Global Investors LP now owns 3,430,128 shares of the company’s stock worth $497,231,000 after purchasing an additional 701,145 shares during the period. William Blair Investment Management LLC acquired a new position in Regal Rexnord in the third quarter worth $57,807,000. Westfield Capital Management Co. LP boosted its holdings in Regal Rexnord by 40.4% in the third quarter. Westfield Capital Management Co. LP now owns 1,221,730 shares of the company’s stock worth $175,245,000 after purchasing an additional 351,599 shares during the period. Finally, American Century Companies Inc. acquired a new position in Regal Rexnord in the third quarter worth $47,778,000. Institutional investors and hedge funds own 99.72% of the company’s stock.

Insider Activity at Regal Rexnord

In related news, CFO Robert Rehard sold 6,499 shares of Regal Rexnord stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $200.00, for a total transaction 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. The trade was a 18.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Louis V. Pinkham sold 22,509 shares of Regal Rexnord stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $211.68, for a total transaction of $4,764,705.12. Following the sale, the chief executive officer owned 56,749 shares in the company, valued at approximately $12,012,628.32. This represents a 28.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 30,305 shares of company stock worth $6,341,869 over the last ninety days. 0.63% of the stock is currently owned by corporate insiders.

Regal Rexnord Stock Performance

Shares of RRX opened at $212.51 on Friday. Regal Rexnord Corporation has a 1 year low of $127.96 and a 1 year high of $236.35. The company has a market cap of $14.15 billion, a price-to-earnings ratio of 49.42, a price-to-earnings-growth ratio of 1.99 and a beta of 1.11. 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 firm has a fifty day moving average of $205.28 and a 200-day moving average of $184.40.

Regal Rexnord (NYSE:RRX) last announced its quarterly 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. Regal Rexnord had a net margin of 4.78% and a return on equity of 9.49%. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the previous year, the company posted $2.15 earnings per share. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. As a group, equities analysts anticipate that Regal Rexnord Corporation will post 10.63 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 30th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Tuesday, June 30th. Regal Rexnord’s payout ratio is currently 32.56%.

Wall Street Analyst Weigh In

A number of research firms have commented on RRX. JPMorgan Chase & Co. lifted their price objective on shares of Regal Rexnord from $230.00 to $240.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Citigroup lifted their price objective on shares of Regal Rexnord from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Monday, April 13th. 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 report on Thursday, May 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Regal Rexnord in a report on Tuesday, April 21st. Finally, Wall Street Zen downgraded shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a report on Tuesday, April 28th. Six analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $232.25.

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.