Regal Rexnord Corporation $RRX Position Trimmed by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA decreased its holdings in Regal Rexnord Corporation (NYSE:RRX) by 6.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,677,301 shares of the company’s stock after selling 194,007 shares during the quarter. Massachusetts Financial Services Co. MA owned 4.03% of Regal Rexnord worth $384,032,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Geneos Wealth Management Inc. grew its holdings in shares of Regal Rexnord by 135.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock worth $25,000 after acquiring an additional 127 shares during the last quarter. Allworth Financial LP boosted its position in shares of Regal Rexnord by 85.7% in the 2nd quarter. Allworth Financial LP now owns 195 shares of the company’s stock valued at $28,000 after purchasing an additional 90 shares during the period. SJS Investment Consulting Inc. increased its stake in Regal Rexnord by 95.1% in the 3rd quarter. SJS Investment Consulting Inc. now owns 199 shares of the company’s stock worth $29,000 after purchasing an additional 97 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in Regal Rexnord by 216.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 272 shares of the company’s stock worth $39,000 after buying an additional 186 shares during the period. Finally, Tobam lifted its stake in Regal Rexnord by 54.8% during the second quarter. Tobam now owns 308 shares of the company’s stock valued at $45,000 after buying an additional 109 shares in the last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.

Regal Rexnord Stock Up 1.4%

Shares of Regal Rexnord stock opened at $160.32 on Monday. The firm has a market cap of $10.64 billion, a price-to-earnings ratio of 41.43, a P/E/G ratio of 1.48 and a beta of 1.12. The stock has a 50-day simple moving average of $144.44 and a 200-day simple moving average of $145.53. Regal Rexnord Corporation has a 52-week low of $90.56 and a 52-week 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.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings data on Thursday, October 30th. The company reported $2.51 EPS for the quarter, missing analysts’ consensus estimates of $2.56 by ($0.05). The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.49 billion. Regal Rexnord had a return on equity of 9.64% and a net margin of 4.38%.The company’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.49 EPS. On average, equities research analysts expect that Regal Rexnord Corporation will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 14th. Investors of record on Wednesday, December 31st were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Wednesday, December 31st. Regal Rexnord’s payout ratio is presently 36.18%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RRX. Barclays reissued an “overweight” rating and issued a $165.00 target price on shares of Regal Rexnord in a research report on Monday, November 3rd. JPMorgan Chase & Co. lowered their price objective on shares of Regal Rexnord from $200.00 to $190.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. KeyCorp reduced their target price on Regal Rexnord from $180.00 to $170.00 and set an “overweight” rating for the company in a report on Tuesday, October 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Regal Rexnord in a research report on Wednesday, October 8th. Finally, Jefferies Financial Group lowered Regal Rexnord from a “buy” rating to a “hold” rating and dropped their price target for the company from $170.00 to $160.00 in a research report on Wednesday, December 10th. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $179.63.

Insider Transactions at Regal Rexnord

In other Regal Rexnord news, CEO Louis V. Pinkham sold 35,935 shares of the 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 transaction, the chief executive officer directly owned 103,262 shares of the company’s stock, valued at $15,096,904.40. This represents a 25.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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.