Regal Rexnord Co. (NYSE:RRX) Shares Acquired by Chesley Taft & Associates LLC

Chesley Taft & Associates LLC lifted its holdings in shares of Regal Rexnord Co. (NYSE:RRX) by 5.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,095 shares of the company’s stock after acquiring an additional 500 shares during the period. Chesley Taft & Associates LLC’s holdings in Regal Rexnord were worth $1,411,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. UMB Bank n.a. raised its holdings in Regal Rexnord by 72.5% during the third quarter. UMB Bank n.a. now owns 345 shares of the company’s stock worth $57,000 after purchasing an additional 145 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its position in shares of Regal Rexnord by 30.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company’s stock valued at $71,000 after buying an additional 100 shares during the last quarter. 1620 Investment Advisors Inc. grew its position in shares of Regal Rexnord by 17.4% in the 3rd quarter. 1620 Investment Advisors Inc. now owns 452 shares of the company’s stock valued at $75,000 after buying an additional 67 shares during the last quarter. Quarry LP raised its stake in Regal Rexnord by 752.9% during the 2nd quarter. Quarry LP now owns 870 shares of the company’s stock worth $118,000 after acquiring an additional 768 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in Regal Rexnord by 30.0% in the third quarter. GAMMA Investing LLC now owns 841 shares of the company’s stock valued at $140,000 after acquiring an additional 194 shares during the last quarter. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Regal Rexnord Stock Performance

NYSE:RRX opened at $162.23 on Wednesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.45 and a quick ratio of 1.35. The firm has a market cap of $10.74 billion, a price-to-earnings ratio of 51.18, a price-to-earnings-growth ratio of 1.51 and a beta of 1.04. The firm’s fifty day moving average price is $164.03 and its 200 day moving average price is $161.79. Regal Rexnord Co. has a 1-year low of $130.94 and a 1-year high of $185.28.

Regal Rexnord (NYSE:RRX) last issued its earnings results on Monday, November 4th. The company reported $2.49 earnings per share for the quarter, beating the consensus estimate 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%. The business’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.10 earnings per share. On average, sell-side analysts expect that Regal Rexnord Co. will post 9.24 EPS for the current year.

Regal Rexnord Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date was Tuesday, December 31st. Regal Rexnord’s dividend payout ratio (DPR) is 44.16%.

Insider Activity

In related news, CEO Louis V. Pinkham sold 8,774 shares of the company’s 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 transaction, the chief executive officer now owns 149,618 shares of the company’s stock, valued at $26,935,728.54. This represents a 5.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.82% of the company’s stock.

Wall Street Analysts Forecast Growth

RRX has been the topic of several research reports. Barclays dropped their price objective on Regal Rexnord from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Jefferies Financial Group began coverage on Regal Rexnord in a research note on Thursday, December 12th. They set a “buy” rating and a $215.00 price target on the stock. StockNews.com cut Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 16th. The Goldman Sachs Group raised their target price on shares of Regal Rexnord from $191.00 to $213.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Finally, Citigroup reduced their price target on shares of Regal Rexnord from $210.00 to $190.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $202.00.

Regal Rexnord 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.