Moody National Bank Trust Division Sells 7,202 Shares of Regal Rexnord Co. (NYSE:RRX)

Moody National Bank Trust Division lessened its holdings in Regal Rexnord Co. (NYSE:RRX) by 52.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,480 shares of the company’s stock after selling 7,202 shares during the period. Moody National Bank Trust Division’s holdings in Regal Rexnord were worth $1,005,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Headlands Technologies LLC bought a new stake in shares of Regal Rexnord in the 2nd quarter worth about $46,000. UMB Bank n.a. increased its stake in Regal Rexnord by 72.5% during the third quarter. UMB Bank n.a. now owns 345 shares of the company’s stock worth $57,000 after acquiring an additional 145 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its position in Regal Rexnord by 30.3% during the third quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company’s stock valued at $71,000 after purchasing an additional 100 shares during the period. 1620 Investment Advisors Inc. lifted its stake in shares of Regal Rexnord by 17.4% in the 3rd quarter. 1620 Investment Advisors Inc. now owns 452 shares of the company’s stock valued at $75,000 after purchasing an additional 67 shares during the last quarter. Finally, Quarry LP increased its position in shares of Regal Rexnord by 752.9% during the 2nd quarter. Quarry LP now owns 870 shares of the company’s stock valued at $118,000 after purchasing an additional 768 shares during the last quarter. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Regal Rexnord Trading Up 1.9 %

RRX opened at $152.02 on Tuesday. Regal Rexnord Co. has a 52 week low of $130.94 and a 52 week high of $185.28. The company has a market capitalization of $10.07 billion, a P/E ratio of 47.96, a PEG ratio of 1.83 and a beta of 1.04. The stock’s fifty day moving average is $165.94 and its two-hundred day moving average is $161.00. 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 (NYSE:RRX) last released its quarterly earnings data on Monday, November 4th. The company reported $2.49 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.01. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.53 billion. Regal Rexnord had a net margin of 3.41% and a return on equity of 9.48%. The firm’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.10 earnings per share. Analysts forecast that Regal Rexnord Co. will post 9.24 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend is Tuesday, December 31st. Regal Rexnord’s payout ratio is 44.16%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Citigroup started coverage on Regal Rexnord in a research report on Monday, October 14th. They issued a “buy” rating and a $200.00 price target for the company. StockNews.com raised shares of Regal Rexnord from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, January 8th. The Goldman Sachs Group increased their price objective on shares of Regal Rexnord from $191.00 to $213.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Jefferies Financial Group started coverage on Regal Rexnord in a research report on Thursday, December 12th. They set a “buy” rating and a $215.00 target price for the company. Finally, Robert W. Baird reduced their price target on Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Regal Rexnord has an average rating of “Buy” and a consensus target price of $203.25.

Insider Buying and Selling

In other Regal Rexnord news, CEO Louis V. Pinkham sold 8,774 shares of the stock in a transaction dated Thursday, November 7th. The shares were 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 approximately $26,935,728.54. This represents a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.82% of the stock is currently owned by insiders.

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.