Pacer Advisors Inc. Invests $1.26 Million in Regal Rexnord Corporation $RRX

Pacer Advisors Inc. bought a new stake in shares of Regal Rexnord Corporation (NYSE:RRX) in the 3rd quarter, Holdings Channel.com reports. The firm bought 8,750 shares of the company’s stock, valued at approximately $1,255,000.

Several other institutional investors and hedge funds have also bought and sold shares of RRX. Viking Global Investors LP lifted its position in Regal Rexnord by 25.7% in the second quarter. Viking Global Investors LP now owns 3,430,128 shares of the company’s stock valued at $497,231,000 after purchasing an additional 701,145 shares during the last quarter. Norges Bank purchased a new position in shares of Regal Rexnord in the second quarter worth $256,155,000. Nordea Investment Management AB bought a new stake in Regal Rexnord during the 2nd quarter valued at $224,889,000. Invesco Ltd. boosted its position in Regal Rexnord by 36.6% during the 2nd quarter. Invesco Ltd. now owns 1,274,266 shares of the company’s stock valued at $184,718,000 after buying an additional 341,437 shares during the period. Finally, Alliancebernstein L.P. grew its holdings in Regal Rexnord by 0.4% in the 2nd quarter. Alliancebernstein L.P. now owns 812,164 shares of the company’s stock worth $117,731,000 after acquiring an additional 3,574 shares during the last quarter. 99.72% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on RRX shares. Wall Street Zen downgraded shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research note on Sunday, September 21st. JPMorgan Chase & Co. lowered their price target on Regal Rexnord from $200.00 to $190.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. The Goldman Sachs Group cut their price objective on Regal Rexnord from $192.00 to $170.00 and set a “buy” rating on the stock in a research report on Tuesday, September 16th. Robert W. Baird set a $212.00 target price on Regal Rexnord in a research note on Friday, October 31st. Finally, Zacks Research upgraded Regal Rexnord from a “strong sell” rating to a “hold” rating in a report on Tuesday. Seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $179.63.

Regal Rexnord Stock Performance

Regal Rexnord stock opened at $140.48 on Friday. Regal Rexnord Corporation has a fifty-two week low of $90.56 and a fifty-two week high of $167.77. The stock’s 50 day simple moving average is $141.77 and its two-hundred day simple moving average is $144.76. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.97 and a current ratio of 2.05. The stock has a market cap of $9.33 billion, a price-to-earnings ratio of 36.30, a PEG ratio of 1.46 and a beta of 1.12.

Regal Rexnord (NYSE:RRX) last released its earnings results on Friday, September 8th. The company reported $2.76 EPS for the quarter. Regal Rexnord had a return on equity of 9.64% and a net margin of 4.38%.The company had revenue of $1.85 billion during the quarter. As a group, analysts expect that Regal Rexnord Corporation will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 14th. Stockholders of record on Wednesday, 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 1.0%. The ex-dividend date is Wednesday, December 31st. Regal Rexnord’s payout ratio is 36.18%.

Insider Buying and Selling at Regal Rexnord

In related news, CEO Louis V. Pinkham sold 35,935 shares of the stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $146.20, for a total value of $5,253,697.00. Following the completion of the transaction, the chief executive officer directly owned 103,262 shares in the company, valued at $15,096,904.40. This trade represents a 25.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.82% of the stock is owned by corporate insiders.

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.