Segall Bryant & Hamill LLC Sells 44,983 Shares of Regal Rexnord Co. (NYSE:RRX)

Segall Bryant & Hamill LLC trimmed its position in shares of Regal Rexnord Co. (NYSE:RRX) by 13.6% in the third quarter, Holdings Channel reports. The fund owned 284,850 shares of the company’s stock after selling 44,983 shares during the quarter. Regal Rexnord comprises approximately 0.6% of Segall Bryant & Hamill LLC’s investment portfolio, making the stock its 27th biggest holding. Segall Bryant & Hamill LLC’s holdings in Regal Rexnord were worth $47,251,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Victory Capital Management Inc. boosted its stake in Regal Rexnord by 42.7% during the 2nd quarter. Victory Capital Management Inc. now owns 1,884,575 shares of the company’s stock valued at $254,832,000 after purchasing an additional 563,853 shares during the period. Capital World Investors grew its stake in shares of Regal Rexnord by 4.7% in the first quarter. Capital World Investors now owns 6,599,752 shares of the company’s stock worth $1,188,615,000 after acquiring an additional 296,941 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Regal Rexnord by 24.7% during the second quarter. The Manufacturers Life Insurance Company now owns 1,125,445 shares of the company’s stock worth $152,183,000 after acquiring an additional 222,775 shares during the period. Diamond Hill Capital Management Inc. raised its stake in Regal Rexnord by 7.1% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 3,181,886 shares of the company’s stock valued at $430,255,000 after purchasing an additional 209,776 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Regal Rexnord by 31.5% in the 2nd quarter. Principal Financial Group Inc. now owns 714,179 shares of the company’s stock valued at $96,571,000 after purchasing an additional 171,069 shares during the period. 99.72% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Louis V. Pinkham sold 8,774 shares of Regal Rexnord stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $180.03, for a total value of $1,579,583.22. Following the completion of the transaction, the chief executive officer now directly owns 149,618 shares of the company’s stock, valued at $26,935,728.54. The trade was a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.82% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on RRX shares. 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 objective for the company. Loop Capital reaffirmed a “buy” rating and issued a $200.00 price target on shares of Regal Rexnord in a report on Thursday, September 19th. Barclays lifted their price objective on Regal Rexnord from $180.00 to $190.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. StockNews.com upgraded Regal Rexnord from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th. Finally, Robert W. Baird reduced their target price on Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Regal Rexnord currently has an average rating of “Moderate Buy” and an average price target of $193.00.

Regal Rexnord Price Performance

Shares of RRX stock opened at $172.02 on Wednesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.45 and a quick ratio of 1.35. The stock’s fifty day simple moving average is $168.21 and its 200 day simple moving average is $156.88. Regal Rexnord Co. has a one year low of $113.79 and a one year high of $185.28. The firm has a market cap of $11.39 billion, a price-to-earnings ratio of 54.26, a P/E/G ratio of 1.83 and a beta of 1.04.

Regal Rexnord (NYSE:RRX) last posted its earnings results on Monday, November 4th. The company reported $2.49 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.01. Regal Rexnord had a net margin of 3.41% and a return on equity of 9.48%. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the prior year, the firm earned $2.10 EPS. The firm’s quarterly revenue was down 10.4% compared to the same quarter last year. On average, analysts expect that Regal Rexnord Co. will post 9.25 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders 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 dividend yield of 0.81%. The ex-dividend date is Tuesday, December 31st. Regal Rexnord’s payout ratio is 44.16%.

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.