Vontobel Holding Ltd. Sells 4,523 Shares of Regal Rexnord Corporation $RRX

Vontobel Holding Ltd. lessened its position in shares of Regal Rexnord Corporation (NYSE:RRX) by 1.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 262,702 shares of the company’s stock after selling 4,523 shares during the quarter. Vontobel Holding Ltd.’s holdings in Regal Rexnord were worth $37,682,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Allworth Financial LP raised its stake in Regal Rexnord by 85.7% during the second quarter. Allworth Financial LP now owns 195 shares of the company’s stock valued at $28,000 after purchasing an additional 90 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Regal Rexnord by 135.1% in the first quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock valued at $25,000 after acquiring an additional 127 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of Regal Rexnord by 216.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 272 shares of the company’s stock worth $39,000 after acquiring an additional 186 shares during the last quarter. Tobam boosted its stake in shares of Regal Rexnord by 54.8% during the 2nd quarter. Tobam now owns 308 shares of the company’s stock worth $45,000 after purchasing an additional 109 shares during the period. Finally, Jones Financial Companies Lllp grew its holdings in Regal Rexnord by 91.6% during the 1st quarter. Jones Financial Companies Lllp now owns 617 shares of the company’s stock valued at $70,000 after purchasing an additional 295 shares during the last quarter. 99.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

RRX has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Regal Rexnord in a research note on Wednesday, October 8th. Jefferies Financial Group downgraded shares of Regal Rexnord from a “buy” rating to a “hold” rating and dropped their price objective for the company from $170.00 to $160.00 in a research note on Wednesday, December 10th. The Goldman Sachs Group cut their price target on Regal Rexnord from $192.00 to $170.00 and set a “buy” rating on the stock in a report on Tuesday, September 16th. Citigroup boosted their target price on shares of Regal Rexnord from $175.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Finally, KeyCorp decreased their target price on shares of Regal Rexnord from $180.00 to $170.00 and set an “overweight” rating for the company in a research report on Tuesday, October 14th. Seven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $179.63.

Regal Rexnord Trading Down 0.5%

NYSE RRX opened at $143.45 on Wednesday. Regal Rexnord Corporation has a 1 year low of $90.56 and a 1 year high of $167.77. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.05 and a quick ratio of 0.97. The company has a market capitalization of $9.52 billion, a PE ratio of 37.07, a P/E/G ratio of 1.49 and a beta of 1.11. The company has a fifty day moving average of $141.94 and a 200 day moving average of $144.74.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings data on Friday, September 8th. The company reported $2.76 EPS for the quarter. Regal Rexnord had a return on equity of 9.64% and a net margin of 4.38%.The business had revenue of $1.85 billion for the quarter. Research analysts forecast that Regal Rexnord Corporation will post 9.95 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 14th. Investors of record on Wednesday, December 31st will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.0%. The ex-dividend date is Wednesday, December 31st. Regal Rexnord’s payout ratio is presently 36.18%.

Insider Buying and Selling

In other Regal Rexnord news, CEO Louis V. Pinkham sold 35,935 shares of Regal Rexnord stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $146.20, for a total transaction of $5,253,697.00. Following the sale, the chief executive officer owned 103,262 shares of the company’s stock, valued at $15,096,904.40. The trade was a 25.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.82% of the company’s stock.

Regal Rexnord Company Profile

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.