Regal Rexnord (NYSE:RRX) CFO Robert Rehard Sells 1,289 Shares

Regal Rexnord Corporation (NYSE:RRX) CFO Robert Rehard sold 1,289 shares of Regal Rexnord stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $223.13, for a total transaction of $287,614.57. Following the completion of the transaction, the chief financial officer directly owned 35,415 shares of the company’s stock, valued at $7,902,148.95. The trade was a 3.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Robert Rehard also recently made the following trade(s):

• On Wednesday, February 25th, Robert Rehard sold 968 shares of Regal Rexnord stock. The shares were sold at an average price of $223.00, for a total transaction of $215,864.00.
• On Monday, February 9th, Robert Rehard sold 7,704 shares of Regal Rexnord stock. The shares were sold at an average price of $216.72, for a total transaction of $1,669,610.88.

Regal Rexnord Trading Up 0.3%

RRX opened at $220.97 on Friday. The stock has a 50-day moving average of $173.85 and a 200 day moving average of $154.06. The company has a current ratio of 2.15, a quick ratio of 1.10 and a debt-to-equity ratio of 0.70. Regal Rexnord Corporation has a 12 month low of $90.56 and a 12 month high of $229.30. The firm has a market cap of $14.69 billion, a P/E ratio of 52.61, a P/E/G ratio of 2.05 and a beta of 1.13.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings data on Thursday, February 5th. The company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.04. The business had revenue of $1.52 billion during 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 company’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period last year, the company earned $2.34 EPS. As a group, research analysts forecast that Regal Rexnord Corporation will post 9.95 EPS for the current year.

Regal Rexnord Announces Dividend

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%.

Institutional Investors Weigh In On Regal Rexnord

Several large investors have recently added to or reduced their stakes in the stock. Covestor Ltd increased its position in shares of Regal Rexnord by 81.6% during the fourth quarter. Covestor Ltd now owns 178 shares of the company’s stock worth $25,000 after acquiring an additional 80 shares during the period. Geneos Wealth Management Inc. grew its stake in Regal Rexnord by 135.1% in the first quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock worth $25,000 after purchasing an additional 127 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new position in Regal Rexnord during the 3rd quarter worth $27,000. Garner Asset Management Corp purchased a new position in Regal Rexnord during the 4th quarter worth $27,000. Finally, IFP Advisors Inc raised its position in Regal Rexnord by 34.0% during the 4th quarter. IFP Advisors Inc now owns 193 shares of the company’s stock valued at $27,000 after purchasing an additional 49 shares in the last quarter. 99.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. KeyCorp increased their target price on shares of Regal Rexnord from $200.00 to $255.00 and gave the company an “overweight” rating in a research note on Tuesday, February 10th. JPMorgan Chase & Co. upped their price target on shares of Regal Rexnord from $190.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, February 6th. Oppenheimer increased their price objective on shares of Regal Rexnord from $180.00 to $225.00 and gave the stock an “outperform” rating in a research report on Friday, February 6th. Robert W. Baird set a $253.00 target price on Regal Rexnord in a research report on Friday, February 6th. Finally, Citigroup upped their target price on Regal Rexnord from $180.00 to $230.00 and gave the company a “buy” rating in a research note 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. According to data from MarketBeat.com, 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.