Regal Rexnord Co. (NYSE:RRX) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lowered its holdings in Regal Rexnord Co. (NYSE:RRX) by 3.8% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,813,235 shares of the company’s stock after selling 71,340 shares during the quarter. Victory Capital Management Inc.’s holdings in Regal Rexnord were worth $300,779,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BNP Paribas Financial Markets grew its stake in Regal Rexnord by 25.0% during the 1st quarter. BNP Paribas Financial Markets now owns 5,462 shares of the company’s stock worth $984,000 after buying an additional 1,091 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in Regal Rexnord by 2.6% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 3,808 shares of the company’s stock valued at $686,000 after purchasing an additional 95 shares during the last quarter. Inspire Investing LLC acquired a new stake in Regal Rexnord during the 1st quarter worth $446,000. Qsemble Capital Management LP purchased a new position in Regal Rexnord during the 1st quarter worth $200,000. Finally, Edmond DE Rothschild Holding S.A. acquired a new position in Regal Rexnord in the first quarter valued at $140,000. Institutional investors and hedge funds own 99.72% of the company’s stock.

Regal Rexnord Price Performance

Regal Rexnord stock traded down $3.85 during mid-day trading on Tuesday, reaching $172.45. The company had a trading volume of 69,746 shares, compared to its average volume of 451,572. The stock’s 50-day simple moving average is $166.02 and its 200-day simple moving average is $156.48. The company has a market capitalization of $11.42 billion, a P/E ratio of 55.62, a P/E/G ratio of 1.90 and a beta of 1.04. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.45 and a quick ratio of 1.38. Regal Rexnord Co. has a 1 year low of $108.64 and a 1 year high of $185.28.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings results on Monday, November 4th. The company reported $2.49 earnings per share for the quarter, beating analysts’ consensus estimates of $2.48 by $0.01. Regal Rexnord had a return on equity of 9.48% and a net margin of 3.41%. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter last year, the business posted $2.10 earnings per share. The business’s revenue for the quarter was down 10.4% on a year-over-year basis. On average, equities analysts predict that Regal Rexnord Co. will post 9.2 EPS for the current year.

Regal Rexnord Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.35 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.81%. Regal Rexnord’s dividend payout ratio (DPR) is 44.16%.

Analyst Ratings Changes

Several equities analysts recently issued reports on RRX shares. StockNews.com upgraded Regal Rexnord from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th. Citigroup began coverage on Regal Rexnord in a report on Monday, October 14th. They set a “buy” rating and a $200.00 price target for the company. The Goldman Sachs Group boosted their price objective on shares of Regal Rexnord from $176.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Barclays raised their target price on shares of Regal Rexnord from $180.00 to $190.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Finally, Robert W. Baird dropped their price target on shares of Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $193.00.

Regal Rexnord Profile

Regal Rexnord Corporation manufactures and sells industrial powertrain solutions, power transmission components, electric motors and electronic controls, air moving products, and specialty electrical components and systems worldwide. The Industrial Powertrain Solutions segment provides mounted and unmounted bearings, couplings, mechanical power transmission drives and components, gearboxes, gear motors, clutches, brakes, special, and industrial powertrain components and solutions for food and beverage, bulk material handling, eCommerce/warehouse distribution, energy, mining, marine, agricultural machinery, turf and garden, and general industrial markets.