Regal Rexnord Corporation $RRX Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. lowered its position in Regal Rexnord Corporation (NYSE:RRX) by 1.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,270,159 shares of the company’s stock after selling 61,850 shares during the quarter. Vanguard Group Inc. owned about 0.09% of Regal Rexnord worth $899,392,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Geneos Wealth Management Inc. boosted its holdings in Regal Rexnord by 135.1% in the first quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock valued at $25,000 after purchasing an additional 127 shares during the period. Allworth Financial LP grew its position in shares of Regal Rexnord by 85.7% during the second quarter. Allworth Financial LP now owns 195 shares of the company’s stock worth $28,000 after buying an additional 90 shares in the last quarter. Root Financial Partners LLC acquired a new position in shares of Regal Rexnord during the third quarter worth about $28,000. SJS Investment Consulting Inc. increased its stake in shares of Regal Rexnord by 95.1% during the third quarter. SJS Investment Consulting Inc. now owns 199 shares of the company’s stock worth $29,000 after buying an additional 97 shares during the period. Finally, Farther Finance Advisors LLC raised its holdings in Regal Rexnord by 216.3% in the third quarter. Farther Finance Advisors LLC now owns 272 shares of the company’s stock valued at $39,000 after acquiring an additional 186 shares in the last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.

Insider Activity

In related news, EVP Cheryl Lewis sold 2,262 shares of Regal Rexnord stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $215.73, for a total value of $487,981.26. Following the sale, the executive vice president directly owned 13,219 shares in the company, valued at $2,851,734.87. The trade was a 14.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Robert Rehard sold 7,704 shares of the firm’s stock in a transaction dated 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 trade represents a 18.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 87,129 shares of company stock valued at $16,136,908. 0.82% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

RRX has been the subject of several analyst reports. Oppenheimer boosted their price target on shares of Regal Rexnord from $180.00 to $225.00 and gave the stock an “outperform” rating in a report on Friday, February 6th. KeyCorp boosted their target price on shares of Regal Rexnord from $200.00 to $255.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 10th. Weiss Ratings restated a “hold (c)” rating on shares of Regal Rexnord in a research note on Thursday, January 22nd. Zacks Research raised Regal Rexnord from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 30th. Finally, Barclays raised their target price on Regal Rexnord from $165.00 to $237.00 and gave the stock an “overweight” rating in a research report on Monday, February 9th. Seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Regal Rexnord currently has a consensus rating of “Moderate Buy” and an average target price of $227.50.

Regal Rexnord Stock Up 0.7%

Regal Rexnord stock opened at $215.21 on Monday. The company has a market capitalization of $14.29 billion, a P/E ratio of 51.24, a PEG ratio of 2.00 and a beta of 1.13. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.10 and a current ratio of 2.15. Regal Rexnord Corporation has a fifty-two week low of $90.56 and a fifty-two week high of $229.30. The stock has a 50-day simple moving average of $167.70 and a 200-day simple moving average of $151.99.

Regal Rexnord (NYSE:RRX) last released 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 for the quarter, compared to analyst estimates of $1.54 billion. Regal Rexnord had a return on equity of 9.60% and a net margin of 4.71%.The firm’s revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.34 earnings per share. Equities research analysts expect that Regal Rexnord Corporation will post 9.95 earnings per share for the current year.

Regal Rexnord Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 31st will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, March 31st. Regal Rexnord’s dividend payout ratio (DPR) is presently 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.