FMR LLC & Abigail Johnson Hold 10.029% Stake in Regal Rexnord
Ticker: RRX · Form: SC 13G/A · Filed: Feb 9, 2024 · CIK: 82811
| Field | Detail |
|---|---|
| Company | Regal Rexnord Corp (RRX) |
| Form Type | SC 13G/A |
| Filed Date | Feb 9, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, passive-investing, amendment
TL;DR
**FMR LLC and Abigail Johnson still own over 10% of Regal Rexnord, signaling continued institutional interest.**
AI Summary
FMR LLC, a major investment firm, and its principal owner, Abigail P. Johnson, have updated their holdings in Regal Rexnord Corp (RRX) through an SC 13G/A filing on February 9, 2024. They now collectively beneficially own 6,654,530 shares, representing 10.029% of the company's common stock. This filing indicates a significant, but passive, ownership stake, which could signal long-term confidence in Regal Rexnord's future performance to current and prospective investors.
Why It Matters
This filing shows that a major institutional investor and its leader maintain a substantial stake in Regal Rexnord, which can be a vote of confidence for other investors.
Risk Assessment
Risk Level: low — This filing is an amendment to a passive ownership stake, indicating no immediate change in control or strategy, thus posing low risk.
Analyst Insight
Investors should note the continued significant institutional ownership by FMR LLC and Abigail P. Johnson, which can be a positive signal, but this passive filing doesn't suggest any immediate strategic changes or activist intentions.
Key Numbers
- 6,654,530 — Shares Beneficially Owned (Represents the total common stock held by FMR LLC and Abigail P. Johnson in Regal Rexnord Corp.)
- 10.029% — Percentage Ownership (Indicates the significant portion of Regal Rexnord Corp's common stock owned by these reporting persons.)
Key Players & Entities
- FMR LLC (company) — reporting person and parent holding company
- Abigail P. Johnson (person) — reporting person and principal owner of FMR LLC
- REGAL REXNORD CORP (company) — the issuer of the common stock
- 6,654,530 (dollar_amount) — total shares beneficially owned by FMR LLC and Abigail P. Johnson
- 10.029% (dollar_amount) — percentage of common stock beneficially owned
Forward-Looking Statements
- FMR LLC will maintain a significant, passive stake in Regal Rexnord Corp. (FMR LLC) — high confidence, target: Next 12-24 months
FAQ
Who are the primary reporting persons in this SC 13G/A filing?
The primary reporting persons are FMR LLC and Abigail P. Johnson, as stated in Item 1 of the filing for both entities.
What is the total number of shares beneficially owned by FMR LLC and Abigail P. Johnson in REGAL REXNORD CORP?
Both FMR LLC and Abigail P. Johnson beneficially own 6,654,530 shares of REGAL REXNORD CORP common stock, as detailed in Item 7 for both reporting persons.
What percentage of REGAL REXNORD CORP's common stock do the reporting persons collectively own?
FMR LLC and Abigail P. Johnson collectively own 10.029% of REGAL REXNORD CORP's common stock, as indicated in Item 11 for both reporting persons.
Under which rule is this Schedule 13G filed?
This Schedule 13G is filed pursuant to Rule 13d-1(b), as indicated by the checked box in the filing.
What is the CUSIP number for REGAL REXNORD CORP common stock mentioned in the filing?
The CUSIP number for REGAL REXNORD CORP common stock is #758750103, as stated at the beginning of the Schedule 13G Amendment No.10 and in Item 2(e).
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on February 9, 2024 by Abigail P. Johnson regarding REGAL REXNORD CORP (RRX).