Regal Rexnord Corporation $RRX Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. trimmed its holdings in Regal Rexnord Corporation (NYSE:RRX) by 2.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 228,755 shares of the company’s stock after selling 4,628 shares during the quarter. Russell Investments Group Ltd.’s holdings in Regal Rexnord were worth $32,813,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. raised its holdings in Regal Rexnord by 135.1% during the first quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock worth $25,000 after purchasing an additional 127 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of Regal Rexnord in the 3rd quarter valued at $27,000. Allworth Financial LP grew 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 buying an additional 90 shares during the last quarter. Root Financial Partners LLC purchased a new position in shares of Regal Rexnord in the 3rd quarter valued at $28,000. Finally, SJS Investment Consulting Inc. raised its stake in Regal Rexnord by 95.1% during the 3rd quarter. SJS Investment Consulting Inc. now owns 199 shares of the company’s stock worth $29,000 after acquiring an additional 97 shares in the last quarter. 99.72% of the stock is currently owned by hedge funds and other institutional investors.

Regal Rexnord Trading Up 0.4%

Shares of Regal Rexnord stock opened at $202.28 on Thursday. Regal Rexnord Corporation has a 1 year low of $90.56 and a 1 year high of $229.30. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.10 and a current ratio of 2.15. The company has a market capitalization of $13.45 billion, a P/E ratio of 48.16, a PEG ratio of 1.87 and a beta of 1.05. The company’s fifty day moving average is $185.10 and its two-hundred day moving average is $157.82.

Regal Rexnord (NYSE:RRX) last announced its earnings results on Thursday, February 5th. The company reported $2.51 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $1.54 billion. During the same period in the prior year, the company earned $2.34 earnings per share. The business’s revenue was up 4.3% compared to the same quarter last year. Analysts forecast that Regal Rexnord Corporation will post 9.95 earnings per share for the current year.

Regal Rexnord Announces Dividend

The business also recently disclosed 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 0.7%. Regal Rexnord’s dividend payout ratio is currently 33.33%.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Robert W. Baird set a $253.00 price objective on shares of Regal Rexnord in a research note on Friday, February 6th. Jefferies Financial Group cut Regal Rexnord from a “buy” rating to a “hold” rating and cut their target price for the stock from $170.00 to $160.00 in a research report on Wednesday, December 10th. Barclays boosted their target price on Regal Rexnord from $165.00 to $237.00 and gave the company an “overweight” rating in a report on Monday, February 9th. Weiss Ratings reissued a “hold (c)” rating on shares of Regal Rexnord in a research report on Thursday, January 22nd. Finally, JPMorgan Chase & Co. lifted their price target on Regal Rexnord from $190.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, February 6th. Seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Regal Rexnord currently has an average rating of “Moderate Buy” and an average price target of $227.50.

Insider Buying and Selling

In other news, EVP Cheryl Lewis sold 2,262 shares of the company’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $215.73, for a total transaction of $487,981.26. Following the completion of the sale, the executive vice president owned 13,219 shares in the company, valued at $2,851,734.87. This represents a 14.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Robert Rehard sold 968 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $223.00, for a total value of $215,864.00. Following the sale, the chief financial officer owned 34,447 shares of the company’s stock, valued at $7,681,681. This trade represents a 2.73% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 53,451 shares of company stock valued at $11,386,689 over the last 90 days. Insiders own 0.82% of the company’s stock.

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.