Vestmark Advisory Solutions Inc. Sells 2,386 Shares of Regal Rexnord Corporation $RRX

Vestmark Advisory Solutions Inc. lessened its position in shares of Regal Rexnord Corporation (NYSE:RRX) by 24.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,206 shares of the company’s stock after selling 2,386 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Regal Rexnord were worth $1,034,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. 1620 Investment Advisors Inc. lifted its holdings in Regal Rexnord by 8.6% during the third quarter. 1620 Investment Advisors Inc. now owns 944 shares of the company’s stock valued at $135,000 after purchasing an additional 75 shares during the last quarter. Geneos Wealth Management Inc. raised its position in shares of Regal Rexnord by 35.3% in the second quarter. Geneos Wealth Management Inc. now owns 299 shares of the company’s stock valued at $43,000 after purchasing an additional 78 shares during the period. UMB Bank n.a. lifted its stake in shares of Regal Rexnord by 8.9% during the 3rd quarter. UMB Bank n.a. now owns 963 shares of the company’s stock valued at $138,000 after buying an additional 79 shares in the last quarter. Allworth Financial LP grew its stake in 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 buying an additional 90 shares in the last quarter. Finally, SJS Investment Consulting Inc. raised its holdings in Regal Rexnord by 95.1% during the 3rd quarter. SJS Investment Consulting Inc. now owns 199 shares of the company’s stock valued at $29,000 after acquiring an additional 97 shares during the period. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Regal Rexnord in a research note on Thursday, January 22nd. Jefferies Financial Group downgraded shares of Regal Rexnord from a “buy” rating to a “hold” rating and lowered their price target for the stock from $170.00 to $160.00 in a report on Wednesday, December 10th. JPMorgan Chase & Co. boosted their price objective on shares of Regal Rexnord from $190.00 to $230.00 and gave the company an “overweight” rating in a research note on Friday, February 6th. The Goldman Sachs Group upped their target price on shares of Regal Rexnord from $170.00 to $230.00 and gave the stock a “buy” rating in a report on Monday, February 9th. Finally, Zacks Research upgraded shares of Regal Rexnord from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 30th. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $227.50.

Insider Transactions at Regal Rexnord

In other news, EVP Cheryl Lewis sold 2,262 shares of the stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $215.73, for a total transaction of $487,981.26. Following the transaction, the executive vice president directly owned 13,219 shares in the company, valued at approximately $2,851,734.87. This represents a 14.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Curtis W. Stoelting sold 4,500 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $180.00, for a total value of $810,000.00. Following the transaction, the director directly owned 15,617 shares in the company, valued at approximately $2,811,060. This represents a 22.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 51,194 shares of company stock valued at $10,883,211 over the last quarter. 0.82% of the stock is owned by company insiders.

Regal Rexnord Trading Down 1.4%

Shares of Regal Rexnord stock opened at $220.57 on Thursday. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.15 and a quick ratio of 1.10. Regal Rexnord Corporation has a 1 year low of $90.56 and a 1 year high of $229.30. The firm has a market cap of $14.67 billion, a PE ratio of 52.52, a PEG ratio of 2.08 and a beta of 1.13. The company has a 50 day simple moving average of $172.25 and a two-hundred day simple moving average of $153.59.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings results on Thursday, February 5th. The company reported $2.51 EPS 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 firm had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same quarter in the prior year, the firm earned $2.34 EPS. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. Analysts expect that Regal Rexnord Corporation will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

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

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.