Regal Rexnord (NYSE:RRX) CFO Sells $215,864.00 in Stock

Regal Rexnord Corporation (NYSE:RRX) CFO Robert Rehard sold 968 shares of the stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $223.00, for a total value of $215,864.00. Following the transaction, the chief financial officer directly owned 34,447 shares of the company’s stock, valued at $7,681,681. This trade represents a 2.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Robert Rehard also recently made the following trade(s):

• On Tuesday, February 24th, Robert Rehard sold 1,289 shares of Regal Rexnord stock. The shares were sold at an average price of $223.13, for a total value of $287,614.57.
• On Monday, February 9th, Robert Rehard sold 7,704 shares of Regal Rexnord stock. The stock was sold at an average price of $216.72, for a total value of $1,669,610.88.

Regal Rexnord Stock Up 0.3%

Shares of Regal Rexnord stock traded up $0.57 on Thursday, reaching $220.97. 671,660 shares of the company were exchanged, compared to its average volume of 1,065,904. The company has a market capitalization of $14.69 billion, a price-to-earnings ratio of 52.61, a PEG ratio of 2.08 and a beta of 1.13. The company has a current ratio of 2.15, a quick ratio of 1.10 and a debt-to-equity ratio of 0.70. Regal Rexnord Corporation has a one year low of $90.56 and a one year high of $229.30. The company has a 50-day moving average of $172.25 and a 200 day moving average of $153.59.

Regal Rexnord (NYSE:RRX) last issued its earnings results on Thursday, February 5th. The company reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. Regal Rexnord had a net margin of 4.71% and a return on equity of 9.60%. The business had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the previous year, the company earned $2.34 earnings per share. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, equities research analysts forecast that Regal Rexnord Corporation will post 9.95 earnings per share for the current year.

Regal Rexnord Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 31st will be paid a dividend of $0.35 per share. The ex-dividend date is Tuesday, March 31st. This represents a $1.40 annualized dividend and a dividend yield of 0.6%. Regal Rexnord’s payout ratio is currently 33.33%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on RRX shares. The Goldman Sachs Group lifted their price target on Regal Rexnord from $170.00 to $230.00 and gave the stock a “buy” rating in a report on Monday, February 9th. Oppenheimer upped their price objective on Regal Rexnord from $180.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. Zacks Research raised Regal Rexnord from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 30th. KeyCorp lifted their target price on Regal Rexnord from $200.00 to $255.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 10th. Finally, Barclays boosted their target price on Regal Rexnord from $165.00 to $237.00 and gave the stock an “overweight” rating in a report on Monday, February 9th. Seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $227.50.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. IFP Advisors Inc lifted its holdings in shares of Regal Rexnord by 34.0% during the fourth quarter. IFP Advisors Inc now owns 193 shares of the company’s stock worth $27,000 after buying an additional 49 shares in the last quarter. Parallel Advisors LLC grew its stake in shares of Regal Rexnord by 6.5% in the fourth quarter. Parallel Advisors LLC now owns 888 shares of the company’s stock valued at $125,000 after acquiring an additional 54 shares in the last quarter. Northwestern Mutual Investment Management Company LLC increased its position in Regal Rexnord by 0.4% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 14,855 shares of the company’s stock worth $2,084,000 after acquiring an additional 60 shares during the period. UMB Bank n.a. raised its stake in Regal Rexnord by 6.2% in the 4th quarter. UMB Bank n.a. now owns 1,023 shares of the company’s stock worth $144,000 after purchasing an additional 60 shares in the last quarter. Finally, Allworth Financial LP raised its stake in Regal Rexnord by 35.9% in the 3rd quarter. Allworth Financial LP now owns 265 shares of the company’s stock worth $38,000 after purchasing an additional 70 shares in the last quarter. 99.72% of the stock is owned by institutional investors and hedge funds.

About Regal Rexnord

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.