Regal Rexnord Co. (NYSE:RRX) Shares Sold by Systematic Financial Management LP

Systematic Financial Management LP lowered its stake in shares of Regal Rexnord Co. (NYSE:RRX) by 0.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 157,828 shares of the company’s stock after selling 762 shares during the quarter. Systematic Financial Management LP owned approximately 0.24% of Regal Rexnord worth $26,181,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in RRX. Headlands Technologies LLC bought a new position in Regal Rexnord during the second quarter worth $46,000. 1620 Investment Advisors Inc. bought a new position in Regal Rexnord during the second quarter worth $52,000. UMB Bank n.a. lifted its stake in Regal Rexnord by 72.5% during the third quarter. UMB Bank n.a. now owns 345 shares of the company’s stock worth $57,000 after purchasing an additional 145 shares during the last quarter. GAMMA Investing LLC lifted its stake in Regal Rexnord by 13.9% during the second quarter. GAMMA Investing LLC now owns 647 shares of the company’s stock worth $87,000 after purchasing an additional 79 shares during the last quarter. Finally, CWM LLC lifted its stake in Regal Rexnord by 25.4% during the second quarter. CWM LLC now owns 825 shares of the company’s stock worth $112,000 after purchasing an additional 167 shares during the last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.

Insider Buying and Selling

In related news, CEO Louis V. Pinkham sold 8,774 shares of Regal Rexnord 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 transaction, the chief executive officer now owns 149,618 shares of the company’s stock, valued at approximately $26,935,728.54. This trade represents a 5.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.82% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

RRX has been the topic of a number of recent research reports. Barclays raised their target price on Regal Rexnord from $180.00 to $190.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. StockNews.com raised Regal Rexnord from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th. Loop Capital reissued a “buy” rating and set a $200.00 price target on shares of Regal Rexnord in a report on Thursday, September 19th. Robert W. Baird lowered their price target on Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Finally, Citigroup began coverage on Regal Rexnord in a report on Monday, October 14th. They set a “buy” rating and a $200.00 price target on the stock. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $193.00.

Regal Rexnord Price Performance

NYSE:RRX opened at $172.92 on Thursday. The business’s 50-day moving average price is $171.26 and its 200 day moving average price is $157.89. The firm has a market cap of $11.45 billion, a P/E ratio of 54.55, a PEG ratio of 1.89 and a beta of 1.03. Regal Rexnord Co. has a 52-week low of $122.49 and a 52-week high of $185.28. 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 (NYSE:RRX) last issued its quarterly earnings results on Monday, November 4th. The company reported $2.49 earnings per share for the quarter, topping analysts’ consensus estimates 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%. Regal Rexnord’s revenue was down 10.4% on a year-over-year basis. During the same quarter last year, the business posted $2.10 EPS. As a group, sell-side analysts predict that Regal Rexnord Co. will post 9.25 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st will be paid a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.40 dividend on an annualized basis and a yield of 0.81%. Regal Rexnord’s dividend payout ratio is currently 44.16%.

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.