Mountain Pacific Investment Advisers Inc. ID Sells 1,279 Shares of Regal Rexnord Co. (NYSE:RRX)

Mountain Pacific Investment Advisers Inc. ID reduced its stake in shares of Regal Rexnord Co. (NYSE:RRX) by 0.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 190,901 shares of the company’s stock after selling 1,279 shares during the period. Regal Rexnord accounts for approximately 1.8% of Mountain Pacific Investment Advisers Inc. ID’s portfolio, making the stock its 23rd biggest holding. Mountain Pacific Investment Advisers Inc. ID’s holdings in Regal Rexnord were worth $28,257,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. FMR LLC raised its stake in shares of Regal Rexnord by 2.1% in the 3rd quarter. FMR LLC now owns 8,978,384 shares of the company’s stock valued at $1,282,831,000 after acquiring an additional 181,889 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Regal Rexnord by 2.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 657,959 shares of the company’s stock worth $94,009,000 after buying an additional 17,810 shares during the period. Third Point LLC bought a new stake in shares of Regal Rexnord during the 3rd quarter worth $92,872,000. Invesco Ltd. grew its stake in Regal Rexnord by 37.4% in the 3rd quarter. Invesco Ltd. now owns 521,492 shares of the company’s stock valued at $74,511,000 after buying an additional 141,939 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in Regal Rexnord by 80.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 509,265 shares of the company’s stock worth $75,382,000 after acquiring an additional 226,435 shares during the last quarter. Institutional investors own 99.72% of the company’s stock.

Regal Rexnord Trading Up 1.3 %

Shares of RRX opened at $164.11 on Friday. The stock has a 50 day simple moving average of $169.93 and a 200-day simple moving average of $144.82. The company has a current ratio of 2.55, a quick ratio of 1.59 and a debt-to-equity ratio of 1.00. The stock has a market cap of $10.90 billion, a PE ratio of -188.63, a PEG ratio of 1.63 and a beta of 1.14. Regal Rexnord Co. has a 1 year low of $97.18 and a 1 year high of $183.85.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings results on Wednesday, February 7th. The company reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.02. Regal Rexnord had a positive return on equity of 9.58% and a negative net margin of 0.92%. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same period in the prior year, the company earned $2.64 EPS. Regal Rexnord’s revenue for the quarter was up 29.2% on a year-over-year basis. On average, sell-side analysts predict that Regal Rexnord Co. will post 10.05 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.85%. Regal Rexnord’s dividend payout ratio is -160.92%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Oppenheimer increased their price objective on Regal Rexnord from $185.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, March 13th. KeyCorp boosted their price target on Regal Rexnord from $180.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, March 25th. Finally, Barclays lifted their price objective on Regal Rexnord from $200.00 to $203.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Regal Rexnord has an average rating of “Moderate Buy” and a consensus target price of $197.00.

Insider Buying and Selling

In other news, EVP Jerrald R. Morton sold 2,992 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $154.34, for a total transaction of $461,785.28. Following the transaction, the executive vice president now directly owns 15,884 shares in the company, valued at $2,451,536.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Regal Rexnord news, EVP Thomas E. Valentyn sold 1,931 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $166.09, for a total transaction of $320,719.79. Following the completion of the sale, the executive vice president now directly owns 27,180 shares of the company’s stock, valued at approximately $4,514,326.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jerrald R. Morton sold 2,992 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $154.34, for a total transaction of $461,785.28. Following the completion of the transaction, the executive vice president now directly owns 15,884 shares in the company, valued at $2,451,536.56. The disclosure for this sale can be found here. Insiders have sold a total of 5,570 shares of company stock worth $892,301 in the last 90 days. Corporate insiders own 0.82% of the company’s stock.

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.