Regal Rexnord Corporation (NYSE:RRX) Short Interest Update

Regal Rexnord Corporation (NYSE:RRX) was the recipient of a significant decrease in short interest in the month of January. As of January 30th, there was short interest totaling 2,329,092 shares, a decrease of 17.0% from the January 15th total of 2,807,447 shares. Based on an average daily volume of 651,080 shares, the short-interest ratio is presently 3.6 days. Currently, 3.5% of the company’s stock are sold short. Currently, 3.5% of the company’s stock are sold short. Based on an average daily volume of 651,080 shares, the short-interest ratio is presently 3.6 days.

Regal Rexnord Stock Performance

Shares of NYSE:RRX traded up $6.84 during midday trading on Monday, hitting $220.42. The company had a trading volume of 1,051,917 shares, compared to its average volume of 1,303,565. Regal Rexnord has a 12-month low of $90.56 and a 12-month high of $229.30. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.15 and a quick ratio of 1.10. The company has a market cap of $14.63 billion, a price-to-earnings ratio of 52.48, a PEG ratio of 2.05 and a beta of 1.13. The company has a fifty day moving average of $162.46 and a two-hundred day moving average of $150.03.

Regal Rexnord (NYSE:RRX) last issued its earnings results on Thursday, February 5th. The company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.04. The company had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.54 billion. Regal Rexnord had a net margin of 4.71% and a return on equity of 9.60%. Regal Rexnord’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.34 EPS. On average, equities research analysts expect that Regal Rexnord will post 9.95 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 31st will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Tuesday, March 31st. Regal Rexnord’s payout ratio is presently 33.33%.

Insider Transactions at Regal Rexnord

In related news, CFO Robert Rehard sold 7,704 shares of the company’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $216.72, for a total value of $1,669,610.88. Following the sale, the chief financial officer owned 34,154 shares in the company, valued at $7,401,854.88. This represents a 18.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Cheryl Lewis sold 2,262 shares of Regal Rexnord stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $215.73, for a total value of $487,981.26. Following the transaction, the executive vice president directly owned 13,219 shares in the company, valued at approximately $2,851,734.87. The trade was a 14.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 87,129 shares of company stock valued at $16,136,908 over the last ninety days. Company insiders own 0.82% of the company’s stock.

Institutional Trading of Regal Rexnord

Several institutional investors and hedge funds have recently made changes to their positions in the business. IFP Advisors Inc lifted its holdings in shares of Regal Rexnord by 34.0% in the 4th quarter. IFP Advisors Inc now owns 193 shares of the company’s stock worth $27,000 after buying an additional 49 shares during the period. Parallel Advisors LLC grew its holdings in Regal Rexnord by 6.5% during the fourth quarter. Parallel Advisors LLC now owns 888 shares of the company’s stock worth $125,000 after acquiring an additional 54 shares during the period. Northwestern Mutual Investment Management Company LLC boosted its stake in shares of Regal Rexnord by 0.4% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 14,855 shares of the company’s stock worth $2,084,000 after acquiring an additional 60 shares in the last quarter. UMB Bank n.a. increased its holdings in Regal Rexnord by 6.2% in the 4th quarter. UMB Bank n.a. now owns 1,023 shares of the company’s stock worth $144,000 after acquiring an additional 60 shares in the last quarter. Finally, Allworth Financial LP raised its holdings in shares of Regal Rexnord by 35.9% during the third quarter. Allworth Financial LP now owns 265 shares of the company’s stock valued at $38,000 after acquiring an additional 70 shares during the last quarter. 99.72% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RRX. Citigroup raised their price target on Regal Rexnord from $180.00 to $230.00 and gave the stock a “buy” rating in a report on Monday, February 9th. JPMorgan Chase & Co. raised their price objective on shares of Regal Rexnord from $190.00 to $230.00 and gave the company an “overweight” rating in a research report on Friday, February 6th. Barclays upped their price objective on shares of Regal Rexnord from $165.00 to $237.00 and gave the company an “overweight” rating in a research note on Monday, February 9th. Weiss Ratings reissued a “hold (c)” rating on shares of Regal Rexnord in a research note on Thursday, January 22nd. Finally, Robert W. Baird set a $253.00 price objective on Regal Rexnord in a research report on Friday, February 6th. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $227.50.

About Regal Rexnord

Regal Rexnord Corporation (NYSE: RRX) is a global industrial manufacturer specializing in electric motors, power generation equipment and automated motion control systems. The company designs, engineers and produces a broad portfolio of products that includes energy-efficient electric motors, variable frequency drives, gearboxes, couplings, bearings and power transmission components. These offerings support critical applications in industries such as heating, ventilation and air conditioning (HVAC), refrigeration, data centers, water treatment, food and beverage processing, mining, oil and gas, and material handling.

The company’s operations are organized into multiple business segments that address distinct customer needs.