Regal Rexnord Co. (NYSE:RRX) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. trimmed its holdings in shares of Regal Rexnord Co. (NYSE:RRX) by 29.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 45,445 shares of the company’s stock after selling 19,144 shares during the quarter. Russell Investments Group Ltd.’s holdings in Regal Rexnord were worth $6,727,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Cary Street Partners Investment Advisory LLC raised its position in shares of Regal Rexnord by 652.2% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 173 shares of the company’s stock worth $25,000 after acquiring an additional 150 shares during the period. GAMMA Investing LLC purchased a new position in Regal Rexnord during the fourth quarter worth approximately $58,000. Global Retirement Partners LLC grew its holdings in Regal Rexnord by 63.9% in the fourth quarter. Global Retirement Partners LLC now owns 808 shares of the company’s stock valued at $109,000 after purchasing an additional 315 shares during the period. CWM LLC increased its position in shares of Regal Rexnord by 48.5% in the fourth quarter. CWM LLC now owns 738 shares of the company’s stock valued at $109,000 after buying an additional 241 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its position in shares of Regal Rexnord by 11,000.0% during the 4th quarter. International Assets Investment Management LLC now owns 888 shares of the company’s stock valued at $131,000 after buying an additional 880 shares in the last quarter. 99.72% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Thomas E. Valentyn sold 1,931 shares of Regal Rexnord stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $166.09, for a total transaction of $320,719.79. Following the sale, the executive vice president now owns 27,180 shares of the company’s stock, valued at approximately $4,514,326.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Thomas E. Valentyn sold 1,931 shares of the stock in a transaction on 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 transaction, the executive vice president now directly owns 27,180 shares in the company, valued at approximately $4,514,326.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Thomas E. Valentyn sold 647 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $169.70, for a total transaction of $109,795.90. Following the completion of the sale, the executive vice president now owns 28,412 shares in the company, valued at $4,821,516.40. The disclosure for this sale can be found here. Insiders sold a total of 5,570 shares of company stock valued at $892,301 in the last 90 days. Company insiders own 0.82% of the company’s stock.

Regal Rexnord Price Performance

RRX stock opened at $157.35 on Thursday. Regal Rexnord Co. has a 1 year low of $97.18 and a 1 year high of $183.85. The firm has a market capitalization of $10.46 billion, a PE ratio of -180.86, a price-to-earnings-growth ratio of 1.64 and a beta of 1.16. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.55 and a quick ratio of 1.59. The business has a 50 day simple moving average of $169.44 and a 200-day simple moving average of $146.68.

Regal Rexnord (NYSE:RRX) last issued its earnings results on Monday, May 6th. The company reported $2.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.02. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.56 billion. Regal Rexnord had a positive return on equity of 9.58% and a negative net margin of 0.92%. The company’s revenue for the quarter was up 26.4% on a year-over-year basis. During the same period last year, the company earned $2.22 EPS. Equities research analysts anticipate that Regal Rexnord Co. will post 10.05 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be issued a $0.35 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.40 annualized dividend and a yield of 0.89%. Regal Rexnord’s payout ratio is -160.92%.

Analyst Ratings Changes

RRX has been the subject of several recent analyst reports. KeyCorp boosted their price target on shares of Regal Rexnord from $180.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, March 25th. Oppenheimer raised their price target on shares of Regal Rexnord from $185.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, March 13th. Robert W. Baird boosted their price objective on Regal Rexnord from $205.00 to $208.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Barclays reduced their target price on Regal Rexnord from $203.00 to $199.00 and set an “overweight” rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $195.60.

Regal Rexnord Profile

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.