Regal Rexnord Co. (NYSE:RRX) CEO Louis V. Pinkham Sells 8,774 Shares

Regal Rexnord Co. (NYSE:RRX) CEO Louis V. Pinkham sold 8,774 shares of Regal Rexnord stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $180.03, for a total transaction of $1,579,583.22. Following the completion of the transaction, the chief executive officer now directly owns 149,618 shares of the company’s stock, valued at approximately $26,935,728.54. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Regal Rexnord Trading Down 3.2 %

RRX stock traded down $5.72 on Tuesday, hitting $170.58. 406,142 shares of the company were exchanged, compared to its average volume of 453,108. Regal Rexnord Co. has a twelve month low of $108.64 and a twelve month high of $185.28. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.45 and a quick ratio of 1.38. The business’s fifty day moving average is $166.02 and its two-hundred day moving average is $156.48. The stock has a market capitalization of $11.30 billion, a price-to-earnings ratio of 55.62, a price-to-earnings-growth ratio of 1.90 and a beta of 1.04.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings results on Monday, November 4th. The company reported $2.49 EPS for the quarter, beating the consensus estimate of $2.48 by $0.01. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.53 billion. Regal Rexnord had a return on equity of 9.48% and a net margin of 3.41%. The company’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same quarter last year, the company posted $2.10 earnings per share. As a group, research analysts forecast that Regal Rexnord Co. will post 9.2 earnings per share for the current year.

Regal Rexnord Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.82%. The ex-dividend date is Tuesday, December 31st. Regal Rexnord’s dividend payout ratio (DPR) is currently 44.16%.

Institutional Trading of Regal Rexnord

A number of institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets grew its holdings in Regal Rexnord by 25.0% in the 1st quarter. BNP Paribas Financial Markets now owns 5,462 shares of the company’s stock worth $984,000 after acquiring an additional 1,091 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its position in shares of Regal Rexnord by 2.6% during the first quarter. Oppenheimer Asset Management Inc. now owns 3,808 shares of the company’s stock valued at $686,000 after buying an additional 95 shares during the last quarter. Inspire Investing LLC purchased a new position in shares of Regal Rexnord in the 1st quarter valued at approximately $446,000. Qsemble Capital Management LP purchased a new position in shares of Regal Rexnord in the 1st quarter valued at approximately $200,000. Finally, Edmond DE Rothschild Holding S.A. acquired a new stake in Regal Rexnord in the 1st quarter valued at $140,000. 99.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on RRX shares. Loop Capital reissued a “buy” rating and issued a $200.00 price target on shares of Regal Rexnord in a research note on Thursday, September 19th. StockNews.com upgraded Regal Rexnord from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th. Barclays upped their price target on Regal Rexnord from $180.00 to $190.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. KeyCorp dropped their price target on Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Finally, Citigroup assumed coverage on Regal Rexnord in a research note on Monday, October 14th. They issued a “buy” rating and a $200.00 price target for the company. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Regal Rexnord presently has an average rating of “Moderate Buy” and an average price target of $193.00.

About Regal Rexnord

Regal Rexnord Corporation manufactures and sells industrial powertrain solutions, power transmission components, electric motors and electronic controls, air moving products, and specialty electrical components and systems worldwide. The Industrial Powertrain Solutions segment provides mounted and unmounted bearings, couplings, mechanical power transmission drives and components, gearboxes, gear motors, clutches, brakes, special, and industrial powertrain components and solutions for food and beverage, bulk material handling, eCommerce/warehouse distribution, energy, mining, marine, agricultural machinery, turf and garden, and general industrial markets.