Regal Rexnord Co. (NYSE:RRX) Shares Sold by Missouri Trust & Investment Co

Missouri Trust & Investment Co lowered its position in shares of Regal Rexnord Co. (NYSE:RRX) by 50.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 250 shares of the company’s stock after selling 250 shares during the period. Missouri Trust & Investment Co’s holdings in Regal Rexnord were worth $35,000 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. Spire Wealth Management increased its position in shares of Regal Rexnord by 115.5% during the first quarter. Spire Wealth Management now owns 278 shares of the company’s stock worth $39,000 after purchasing an additional 149 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Regal Rexnord during the first quarter worth about $42,000. Nomura Asset Management Co. Ltd. grew its holdings in shares of Regal Rexnord by 50.0% during the first quarter. Nomura Asset Management Co. Ltd. now owns 330 shares of the company’s stock worth $46,000 after buying an additional 110 shares during the last quarter. Global Retirement Partners LLC grew its holdings in shares of Regal Rexnord by 945.0% during the first quarter. Global Retirement Partners LLC now owns 418 shares of the company’s stock worth $55,000 after buying an additional 378 shares during the last quarter. Finally, ICA Group Wealth Management LLC purchased a new position in shares of Regal Rexnord during the fourth quarter worth about $57,000. Institutional investors and hedge funds own 96.67% of the company’s stock.

Regal Rexnord Price Performance

Shares of RRX opened at $157.45 on Friday. Regal Rexnord Co. has a twelve month low of $111.84 and a twelve month high of $166.00. The stock’s 50 day moving average is $155.61 and its two-hundred day moving average is $145.27. The firm has a market capitalization of $10.44 billion, a PE ratio of 42.33, a P/E/G ratio of 1.56 and a beta of 1.08. The company has a current ratio of 2.52, a quick ratio of 1.37 and a debt-to-equity ratio of 1.03.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings results on Monday, July 31st. The company reported $2.56 EPS for the quarter, topping the consensus estimate of $2.44 by $0.12. The business had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.77 billion. Regal Rexnord had a return on equity of 10.53% and a net margin of 4.45%. The company’s quarterly revenue was up 31.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.76 EPS. Research analysts anticipate that Regal Rexnord Co. will post 10.41 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.89%. The ex-dividend date is Thursday, September 28th. Regal Rexnord’s dividend payout ratio (DPR) is 37.63%.

Insider Transactions at Regal Rexnord

In other news, VP John Avampato sold 8,427 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $151.83, for a total transaction of $1,279,471.41. Following the sale, the vice president now owns 12,953 shares of the company’s stock, valued at approximately $1,966,653.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.98% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Oppenheimer raised their price target on Regal Rexnord from $190.00 to $200.00 and gave the stock an “outperform” rating in a report on Wednesday, August 2nd. StockNews.com assumed coverage on Regal Rexnord in a report on Friday, August 18th. They set a “hold” rating on the stock. Finally, Robert W. Baird raised their price target on Regal Rexnord from $184.00 to $211.00 and gave the stock an “outperform” rating in a report on Wednesday, August 2nd. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Regal Rexnord has a consensus rating of “Moderate Buy” and an average target price of $193.40.

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. It operates in four segments: Commercial Systems, Industrial Systems, Climate Solutions, and Motion Control Solutions.