Louis V. Pinkham Sells 8,774 Shares of Regal Rexnord Co. (NYSE:RRX) Stock

Regal Rexnord Co. (NYSE:RRX) CEO Louis V. Pinkham sold 8,774 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $180.03, for a total value of $1,579,583.22. Following the sale, the chief executive officer now owns 149,618 shares of the company’s stock, valued at $26,935,728.54. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Regal Rexnord Stock Down 3.2 %

Regal Rexnord stock traded down $5.72 during trading on Tuesday, reaching $170.58. The stock had a trading volume of 406,142 shares, compared to its average volume of 453,108. The business has a 50 day moving average price of $166.02 and a 200 day moving average price of $156.48. The stock has a market cap of $11.30 billion, a PE ratio of 55.62, a P/E/G ratio of 1.90 and a beta of 1.04. Regal Rexnord Co. has a 52-week low of $108.64 and a 52-week high of $185.28. The company has a quick ratio of 1.38, a current ratio of 2.45 and a debt-to-equity ratio of 0.87.

Regal Rexnord (NYSE:RRX) last issued its earnings results on Monday, November 4th. The company reported $2.49 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.01. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.53 billion. Regal Rexnord had a return on equity of 9.48% and a net margin of 3.41%. The company’s revenue was down 10.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.10 earnings per share. On average, analysts predict that Regal Rexnord Co. will post 9.2 EPS for the current year.

Regal Rexnord Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date is Tuesday, December 31st. Regal Rexnord’s dividend payout ratio is presently 44.16%.

Hedge Funds Weigh In On Regal Rexnord

Several institutional investors and hedge funds have recently made changes to their positions in the company. CANADA LIFE ASSURANCE Co lifted its stake in shares of Regal Rexnord by 8.0% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 58,336 shares of the company’s stock valued at $10,515,000 after purchasing an additional 4,342 shares during the period. Blair William & Co. IL grew its position in Regal Rexnord by 161.4% in the first quarter. Blair William & Co. IL now owns 7,770 shares of the company’s stock worth $1,399,000 after acquiring an additional 4,798 shares in the last quarter. Westfield Capital Management Co. LP boosted its position in Regal Rexnord by 18.6% during the first quarter. Westfield Capital Management Co. LP now owns 302,532 shares of the company’s stock valued at $54,486,000 after buying an additional 47,379 shares during the period. PEAK6 Investments LLC boosted its holdings in shares of Regal Rexnord by 52.2% during the first quarter. PEAK6 Investments LLC now owns 28,696 shares of the company’s stock worth $5,168,000 after purchasing an additional 9,848 shares during the period. Finally, Harbor Capital Advisors Inc. bought a new position in Regal Rexnord in the second quarter worth about $1,173,000. Institutional investors and hedge funds own 99.72% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on RRX. Loop Capital reissued a “buy” rating and set a $200.00 price objective on shares of Regal Rexnord in a report on Thursday, September 19th. StockNews.com upgraded Regal Rexnord from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th. Barclays raised their target price on Regal Rexnord from $180.00 to $190.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. KeyCorp lowered their target price on Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Finally, Robert W. Baird reduced their target price on Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Regal Rexnord has an average rating of “Moderate Buy” and a consensus price target of $193.00.

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.