Insider Selling: Regal Rexnord Co. (NYSE:RRX) CEO Sells $1,579,583.22 in Stock

Regal Rexnord Co. (NYSE:RRX) CEO Louis V. Pinkham sold 8,774 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $180.03, for a total value of $1,579,583.22. Following the completion of the sale, the chief executive officer now owns 149,618 shares of the company’s stock, valued at $26,935,728.54. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Regal Rexnord Stock Performance

Shares of RRX stock opened at $172.06 on Thursday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.35 and a current ratio of 2.45. The firm has a market cap of $11.40 billion, a P/E ratio of 54.28, a P/E/G ratio of 1.85 and a beta of 1.04. The firm’s 50 day moving average price is $166.89 and its 200-day moving average price is $156.73. Regal Rexnord Co. has a one year low of $111.33 and a one year high of $185.28.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings results on Monday, November 4th. The company reported $2.49 EPS for the quarter, topping 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 company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same period in the prior year, the firm earned $2.10 earnings per share. The firm’s revenue was down 10.4% compared to the same quarter last year. As a group, equities research analysts predict that Regal Rexnord Co. will post 9.2 EPS for the current year.

Regal Rexnord Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders 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 yield of 0.81%. Regal Rexnord’s dividend payout ratio (DPR) is presently 44.16%.

Wall Street Analysts Forecast Growth

RRX has been the topic of a number of recent research reports. Loop Capital reissued a “buy” rating and set a $200.00 price objective on shares of Regal Rexnord in a research note on Thursday, September 19th. Citigroup assumed coverage on shares of Regal Rexnord in a research report on Monday, October 14th. They set a “buy” rating and a $200.00 price target on the stock. The Goldman Sachs Group raised their price objective on shares of Regal Rexnord from $176.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Robert W. Baird decreased their target price on shares of Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Finally, StockNews.com upgraded shares of Regal Rexnord from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Regal Rexnord currently has an average rating of “Moderate Buy” and a consensus target price of $193.00.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Headlands Technologies LLC acquired a new position in shares of Regal Rexnord in the second quarter worth $46,000. 1620 Investment Advisors Inc. purchased a new position in Regal Rexnord in the second quarter valued at $52,000. UMB Bank n.a. grew its stake in Regal Rexnord by 72.5% during the 3rd quarter. UMB Bank n.a. now owns 345 shares of the company’s stock worth $57,000 after purchasing an additional 145 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in Regal Rexnord during the 1st quarter worth about $68,000. Finally, GAMMA Investing LLC raised its position in Regal Rexnord by 13.9% in the 2nd quarter. GAMMA Investing LLC now owns 647 shares of the company’s stock valued at $87,000 after purchasing an additional 79 shares in the last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.

Regal Rexnord Company 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.