Louis V. Pinkham Sells 8,774 Shares of Regal Rexnord Co. (NYSE:RRX) Stock

Regal Rexnord Co. (NYSE:RRX) CEO Louis V. Pinkham sold 8,774 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $180.03, for a total transaction of $1,579,583.22. Following the completion of the sale, the chief executive officer now directly owns 149,618 shares of the company’s stock, valued at $26,935,728.54. This 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 available at the SEC website.

Regal Rexnord Stock Up 0.9 %

Shares of RRX stock opened at $172.06 on Thursday. The stock has a 50 day moving average of $166.89 and a 200-day moving average of $156.73. The firm has a market cap of $11.40 billion, a PE ratio of 54.28, a price-to-earnings-growth ratio of 1.85 and a beta of 1.04. The company has a quick ratio of 1.35, a current ratio of 2.45 and a debt-to-equity ratio of 0.87. Regal Rexnord Co. has a 12 month low of $111.33 and a 12 month high of $185.28.

Regal Rexnord (NYSE:RRX) last issued 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 net margin of 3.41% and a return on equity of 9.48%. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the prior year, the firm earned $2.10 EPS. The business’s revenue 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 company also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st will be issued a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.40 annualized dividend and a yield of 0.81%. Regal Rexnord’s dividend payout ratio (DPR) is 44.16%.

Institutional Trading of Regal Rexnord

A number of hedge funds have recently modified their holdings of the company. Townsquare Capital LLC acquired a new position in shares of Regal Rexnord in the third quarter valued at $267,000. The Manufacturers Life Insurance Company raised its stake in shares of Regal Rexnord by 1.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,137,746 shares of the company’s stock valued at $188,729,000 after buying an additional 12,301 shares in the last quarter. Dynamic Technology Lab Private Ltd lifted its holdings in shares of Regal Rexnord by 79.4% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 11,257 shares of the company’s stock worth $1,867,000 after acquiring an additional 4,981 shares during the period. Westfield Capital Management Co. LP boosted its position in shares of Regal Rexnord by 68.9% during the 3rd quarter. Westfield Capital Management Co. LP now owns 979,521 shares of the company’s stock valued at $162,483,000 after acquiring an additional 399,649 shares in the last quarter. Finally, Cerity Partners LLC boosted its position in shares of Regal Rexnord by 11.7% during the 3rd quarter. Cerity Partners LLC now owns 2,632 shares of the company’s stock valued at $436,000 after acquiring an additional 276 shares in the last quarter. Institutional investors own 99.72% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on RRX. Citigroup assumed coverage on shares of Regal Rexnord in a research note on Monday, October 14th. They issued a “buy” rating and a $200.00 price objective for the company. Loop Capital reaffirmed a “buy” rating and issued a $200.00 price target on shares of Regal Rexnord in a research report on Thursday, September 19th. StockNews.com raised Regal Rexnord from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th. Barclays boosted their target price on Regal Rexnord from $180.00 to $190.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Finally, The Goldman Sachs Group increased their price target on Regal Rexnord from $176.00 to $195.00 and gave the company a “buy” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $193.00.

About Regal Rexnord

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.