Vanguard Group Inc. Lowers Position in Regal Rexnord Corporation $RRX

Vanguard Group Inc. lessened its holdings in Regal Rexnord Corporation (NYSE:RRX) by 1.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 6,270,159 shares of the company’s stock after selling 61,850 shares during the period. Vanguard Group Inc. owned about 9.44% of Regal Rexnord worth $899,392,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Allworth Financial LP increased its holdings in shares of Regal Rexnord by 85.7% in the 2nd quarter. Allworth Financial LP now owns 195 shares of the company’s stock valued at $28,000 after acquiring an additional 90 shares during the period. Root Financial Partners LLC purchased a new position in Regal Rexnord in the third quarter valued at about $28,000. SJS Investment Consulting Inc. raised its holdings in Regal Rexnord by 95.1% in the third quarter. SJS Investment Consulting Inc. now owns 199 shares of the company’s stock worth $29,000 after purchasing an additional 97 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in shares of Regal Rexnord by 135.1% during the first quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock valued at $25,000 after buying an additional 127 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its position in shares of Regal Rexnord by 216.3% during the third quarter. Farther Finance Advisors LLC now owns 272 shares of the company’s stock valued at $39,000 after buying an additional 186 shares during the last quarter. Institutional investors own 99.72% of the company’s stock.

Insider Transactions at Regal Rexnord

In other news, CFO Robert Rehard sold 7,704 shares of the company’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $216.72, for a total transaction of $1,669,610.88. Following the completion of the sale, the chief financial officer owned 34,154 shares of the company’s stock, valued at $7,401,854.88. This represents a 18.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Cheryl Lewis sold 2,262 shares of the firm’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $215.73, for a total transaction of $487,981.26. Following the completion of the transaction, the executive vice president directly owned 13,219 shares in the company, valued at approximately $2,851,734.87. This represents a 14.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 87,129 shares of company stock valued at $16,136,908. Insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on RRX shares. Robert W. Baird set a $253.00 price objective on shares of Regal Rexnord in a research note on Friday, February 6th. Zacks Research raised Regal Rexnord from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 30th. JPMorgan Chase & Co. raised their price objective on Regal Rexnord from $190.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, February 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Regal Rexnord in a research report on Thursday, January 22nd. Finally, KeyCorp increased their price objective on shares of Regal Rexnord from $200.00 to $255.00 and gave the company an “overweight” rating in a research report on Tuesday, February 10th. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $227.50.

Regal Rexnord Stock Up 0.7%

Regal Rexnord stock opened at $215.21 on Monday. 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 stock has a market capitalization of $14.29 billion, a PE ratio of 51.24, a price-to-earnings-growth ratio of 2.00 and a beta of 1.13. The business has a 50 day simple moving average of $167.70 and a 200-day simple moving average of $151.99. Regal Rexnord Corporation has a 12 month low of $90.56 and a 12 month high of $229.30.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings results on Thursday, February 5th. The company reported $2.51 EPS 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 analyst estimates of $1.54 billion. Regal Rexnord had a net margin of 4.71% and a return on equity of 9.60%. The firm’s revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.34 EPS. On average, analysts anticipate that Regal Rexnord Corporation will post 9.95 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 31st will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Tuesday, March 31st. Regal Rexnord’s dividend payout ratio (DPR) is 33.33%.

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.