Regal Rexnord Co. (NYSE:RRX) Shares Sold by Uncommon Cents Investing LLC

Uncommon Cents Investing LLC lessened its position in Regal Rexnord Co. (NYSE:RRX) by 1.4% in the 4th quarter, Holdings Channel reports. The fund owned 4,570 shares of the company’s stock after selling 65 shares during the period. Uncommon Cents Investing LLC’s holdings in Regal Rexnord were worth $709,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Point72 Asset Management L.P. acquired a new stake in shares of Regal Rexnord in the 3rd quarter valued at approximately $83,460,000. Westfield Capital Management Co. LP raised its position in Regal Rexnord by 68.9% in the third quarter. Westfield Capital Management Co. LP now owns 979,521 shares of the company’s stock worth $162,483,000 after acquiring an additional 399,649 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Regal Rexnord by 24.7% in the second quarter. The Manufacturers Life Insurance Company now owns 1,125,445 shares of the company’s stock valued at $152,183,000 after acquiring an additional 222,775 shares during the period. Millennium Management LLC boosted its position in shares of Regal Rexnord by 1,108.9% during the 2nd quarter. Millennium Management LLC now owns 96,819 shares of the company’s stock worth $13,092,000 after purchasing an additional 88,810 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Regal Rexnord by 6.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,289,917 shares of the company’s stock worth $213,971,000 after purchasing an additional 83,823 shares during the period. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Regal Rexnord Stock Performance

NYSE RRX opened at $156.41 on Monday. 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 fifty-two week low of $130.94 and a fifty-two week high of $185.28. The business has a fifty day moving average of $164.43 and a 200-day moving average of $161.64. The stock has a market cap of $10.36 billion, a price-to-earnings ratio of 49.34, a price-to-earnings-growth ratio of 1.44 and a beta of 1.04.

Regal Rexnord (NYSE:RRX) last released its earnings results on Monday, November 4th. The company reported $2.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.48 by $0.01. Regal Rexnord had a net margin of 3.41% and a return on equity of 9.48%. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period in the prior year, the firm earned $2.10 EPS. The firm’s quarterly revenue was down 10.4% on a year-over-year basis. As a group, analysts predict that Regal Rexnord Co. will post 9.24 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st were paid a $0.35 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.40 annualized dividend and a yield of 0.90%. Regal Rexnord’s payout ratio is currently 44.16%.

Insider Buying and Selling at Regal Rexnord

In other Regal Rexnord 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 completion of the sale, the chief executive officer now owns 149,618 shares in the company, valued at $26,935,728.54. The trade was a 5.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.82% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on RRX shares. Jefferies Financial Group initiated coverage on shares of Regal Rexnord in a research note on Thursday, December 12th. They issued a “buy” rating and a $215.00 price objective for the company. Citigroup decreased their price target on Regal Rexnord from $210.00 to $190.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. StockNews.com cut Regal Rexnord from a “strong-buy” rating to a “buy” rating in a report on Thursday. The Goldman Sachs Group lifted their price objective on Regal Rexnord from $191.00 to $213.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Finally, Barclays dropped their price target on Regal Rexnord from $205.00 to $190.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Regal Rexnord presently has an average rating of “Moderate Buy” and an average price target of $202.00.

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.