Regal Rexnord Co. (NYSE:RRX) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. decreased its holdings in shares of Regal Rexnord Co. (NYSE:RRX) by 1.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 14,783 shares of the company’s stock after selling 250 shares during the period. Pacer Advisors Inc.’s holdings in Regal Rexnord were worth $2,293,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in RRX. CIBC Asset Management Inc raised its position in Regal Rexnord by 3.2% in the third quarter. CIBC Asset Management Inc now owns 1,960 shares of the company’s stock valued at $325,000 after purchasing an additional 61 shares during the period. Hengehold Capital Management LLC grew its stake in shares of Regal Rexnord by 1.5% in the third quarter. Hengehold Capital Management LLC now owns 4,315 shares of the company’s stock valued at $716,000 after buying an additional 65 shares in the last quarter. 1620 Investment Advisors Inc. raised its holdings in shares of Regal Rexnord by 17.4% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 452 shares of the company’s stock valued at $75,000 after buying an additional 67 shares during the period. iA Global Asset Management Inc. lifted its position in Regal Rexnord by 2.7% during the 3rd quarter. iA Global Asset Management Inc. now owns 2,626 shares of the company’s stock worth $436,000 after acquiring an additional 68 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in Regal Rexnord by 2.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,616 shares of the company’s stock worth $601,000 after acquiring an additional 95 shares during the period. Institutional investors and hedge funds own 99.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on RRX. Barclays dropped their price objective on shares of Regal Rexnord from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. The Goldman Sachs Group boosted their price objective on shares of Regal Rexnord from $191.00 to $213.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Citigroup lowered their target price on Regal Rexnord from $210.00 to $190.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Robert W. Baird cut their price target on Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Finally, Jefferies Financial Group assumed coverage on Regal Rexnord in a report on Thursday, December 12th. They set a “buy” rating and a $215.00 price objective on the stock. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $202.00.

Regal Rexnord Trading Down 2.8 %

Shares of NYSE RRX opened at $158.56 on Friday. The stock has a market capitalization of $10.50 billion, a P/E ratio of 50.02, a PEG ratio of 1.55 and a beta of 1.04. The stock’s 50 day moving average price is $162.26 and its two-hundred day moving average price is $162.92. The company has a quick ratio of 1.35, a current ratio of 2.45 and a debt-to-equity ratio of 0.87. Regal Rexnord Co. has a 52-week low of $130.94 and a 52-week high of $185.28.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings data on Monday, November 4th. The company reported $2.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.01. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Regal Rexnord had a return on equity of 9.48% and a net margin of 3.41%. The firm’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same period last year, the business posted $2.10 earnings per share. On average, analysts anticipate that Regal Rexnord Co. will post 9.24 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend is Monday, March 31st. Regal Rexnord’s dividend payout ratio is presently 44.16%.

Insider Buying and Selling

In other news, CEO Louis V. Pinkham sold 8,774 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $180.03, for a total transaction of $1,579,583.22. Following the completion of the transaction, the chief executive officer now directly owns 149,618 shares of the company’s stock, valued at approximately $26,935,728.54. This represents a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.82% of the stock is owned by company insiders.

About Regal Rexnord

Regal Rexnord Corporation manufactures and sells industrial powertrain solutions, power transmission components, electric motors and electronic controls, air moving products, and specialty electrical components and systems worldwide. The Industrial Powertrain Solutions segment provides mounted and unmounted bearings, couplings, mechanical power transmission drives and components, gearboxes, gear motors, clutches, brakes, special, and industrial powertrain components and solutions for food and beverage, bulk material handling, eCommerce/warehouse distribution, energy, mining, marine, agricultural machinery, turf and garden, and general industrial markets.