Regal Rexnord Co. (NYSE:RRX) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC reduced its holdings in Regal Rexnord Co. (NYSE:RRX) by 1.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,389 shares of the company’s stock after selling 637 shares during the quarter. MetLife Investment Management LLC owned approximately 0.05% of Regal Rexnord worth $5,704,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. purchased a new position in shares of Regal Rexnord during the 2nd quarter worth about $1,173,000. PNC Financial Services Group Inc. raised its stake in Regal Rexnord by 29.2% during the third quarter. PNC Financial Services Group Inc. now owns 12,311 shares of the company’s stock worth $2,042,000 after purchasing an additional 2,783 shares during the period. Natixis Advisors LLC boosted its holdings in shares of Regal Rexnord by 15.3% in the 3rd quarter. Natixis Advisors LLC now owns 86,933 shares of the company’s stock valued at $14,420,000 after purchasing an additional 11,568 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of Regal Rexnord by 31.4% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 19,686 shares of the company’s stock valued at $2,662,000 after buying an additional 4,701 shares during the period. Finally, Texas Permanent School Fund Corp increased its holdings in shares of Regal Rexnord by 7.0% during the 2nd quarter. Texas Permanent School Fund Corp now owns 62,101 shares of the company’s stock worth $8,397,000 after buying an additional 4,076 shares during the last quarter. 99.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on RRX shares. Barclays lifted their target price on Regal Rexnord from $180.00 to $190.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Loop Capital reiterated a “buy” rating and set a $200.00 target price on shares of Regal Rexnord in a report on Thursday, September 19th. StockNews.com upgraded shares of Regal Rexnord from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th. Citigroup assumed coverage on shares of Regal Rexnord in a research note on Monday, October 14th. They set a “buy” rating and a $200.00 price objective for the company. Finally, 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. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $193.00.

Insider Buying and Selling at Regal Rexnord

In related news, CEO Louis V. Pinkham sold 8,774 shares of Regal Rexnord 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 completion of the sale, the chief executive officer now owns 149,618 shares in the company, valued at approximately $26,935,728.54. The trade was a 5.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.82% of the stock is currently owned by corporate insiders.

Regal Rexnord Trading Up 1.8 %

NYSE RRX opened at $172.71 on Friday. The company’s fifty day simple moving average is $170.84 and its 200-day simple moving average is $157.64. The stock has a market cap of $11.44 billion, a P/E ratio of 54.48, a PEG ratio of 1.83 and a beta of 1.04. Regal Rexnord Co. has a 52 week low of $117.32 and a 52 week high of $185.28. The company has a current ratio of 2.45, a quick ratio of 1.35 and a debt-to-equity ratio of 0.87.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings data 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. Regal Rexnord had a net margin of 3.41% and a return on equity of 9.48%. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same period in the prior year, the company posted $2.10 EPS. The firm’s revenue for the quarter was down 10.4% on a year-over-year basis. Equities research analysts predict that Regal Rexnord Co. will post 9.25 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

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

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.