Regal Rexnord Co. (NYSE:RRX) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA cut its position in shares of Regal Rexnord Co. (NYSE:RRX) by 0.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 2,804,929 shares of the company’s stock after selling 21,359 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Regal Rexnord were worth $465,282,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of RRX. O Shaughnessy Asset Management LLC grew its stake in shares of Regal Rexnord by 8.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 3,441 shares of the company’s stock worth $620,000 after purchasing an additional 258 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in shares of Regal Rexnord by 8.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 58,336 shares of the company’s stock valued at $10,515,000 after buying an additional 4,342 shares in the last quarter. Shell Asset Management Co. grew its holdings in shares of Regal Rexnord by 32.1% in the 1st quarter. Shell Asset Management Co. now owns 5,350 shares of the company’s stock worth $964,000 after acquiring an additional 1,300 shares during the last quarter. EntryPoint Capital LLC acquired a new stake in shares of Regal Rexnord during the first quarter worth $68,000. Finally, Capital International Inc. CA boosted its position in shares of Regal Rexnord by 4.1% in the 1st quarter. Capital International Inc. CA now owns 10,770 shares of the company’s stock valued at $1,940,000 after purchasing an additional 425 shares during the period. Institutional investors and hedge funds own 99.72% of the company’s stock.

Regal Rexnord Trading Up 1.5 %

NYSE:RRX opened at $173.74 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.35 and a current ratio of 2.45. The company has a market capitalization of $11.51 billion, a P/E ratio of 54.81, a P/E/G ratio of 1.86 and a beta of 1.04. The stock’s 50 day moving average price is $169.15 and its 200 day moving average price is $157.03. Regal Rexnord Co. has a 52 week low of $113.79 and a 52 week high of $185.28.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings results on Monday, November 4th. The company reported $2.49 earnings per share for the quarter, beating analysts’ consensus estimates of $2.48 by $0.01. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.53 billion. Regal Rexnord had a net margin of 3.41% and a return on equity of 9.48%. Regal Rexnord’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.10 EPS. On average, research analysts forecast that Regal Rexnord Co. will post 9.25 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date of this dividend is Tuesday, December 31st. Regal Rexnord’s dividend payout ratio is 44.16%.

Insider Activity at Regal Rexnord

In related news, CEO Louis V. Pinkham sold 8,774 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $180.03, for a total value of $1,579,583.22. Following the transaction, the chief executive officer now directly owns 149,618 shares in the company, valued at approximately $26,935,728.54. This trade represents a 5.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.82% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Barclays upped their price objective on shares of Regal Rexnord from $180.00 to $190.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Robert W. Baird cut their target price on shares of Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. The Goldman Sachs Group lifted their price target on Regal Rexnord from $176.00 to $195.00 and gave the company a “buy” rating in a report on Friday, August 2nd. StockNews.com raised Regal Rexnord from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th. Finally, Loop Capital reiterated a “buy” rating and issued a $200.00 target price on shares of Regal Rexnord in a report on Thursday, September 19th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $193.00.

Regal Rexnord Company Profile

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.