Should You Add Regal Rexnord Corp. (RRX) to Your Portfolio?

Carillon Tower Advisers, an investment management company, released its “Carillon Chartwell Mid Cap Value Fund” third quarter 2022 investor letter. A copy of the same can be downloaded here. The market witnessed extreme volatility in the quarter, and the equity market segment returns ranged from -2% to -5%. The Russell Mid Cap Value index declined nearly 5% in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Carillon Tower highlighted stocks like Regal Rexnord Corporation (NYSE:RRX) in the Q3 2022 investor letter. Headquartered in Beloit, Wisconsin, Regal Rexnord Corporation (NYSE:RRX) manufactures motors, bearings, gearing, conveying, blowers, electric components, and couplings globally. On November 18, 2022, Regal Rexnord Corporation (NYSE:RRX) stock closed at $129.76 per share. One-month return of Regal Rexnord Corporation (NYSE:RRX) was -11.61%, and its shares lost 23.65% of their value over the last 52 weeks. Regal Rexnord Corporation (NYSE:RRX) has a market capitalization of $8.584 billion.

Carillon Tower made the following comment about Regal Rexnord Corporation (NYSE:RRX) in its Q3 2022 investor letter:

“Regal Rexnord Corporation (NYSE:RRX) makes a range of electric motors, motion control, and power generation products that move mechanical equipment. Investors were encouraged by strong margin expansion in the previous quarter driven by lean manufacturing initiatives and facility enhancements.”

Industrial

Regal Rexnord Corporation (NYSE:RRX) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 29 hedge fund portfolios held Regal Rexnord Corporation (NYSE:RRX)  at the end of the third quarter, which was 38 in the previous quarter.

We discussed Regal Rexnord Corporation (NYSE:RRX) in another article and shared Diamond Hill Capital’s views on the company. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

Suggested Articles:

Disclosure: None. This article is originally published at Insider Monkey.