US Bancorp DE Sells 215 Shares of Regal Rexnord Co. (NYSE:RRX)

US Bancorp DE cut its position in Regal Rexnord Co. (NYSE:RRX) by 11.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,627 shares of the company’s stock after selling 215 shares during the quarter. US Bancorp DE’s holdings in Regal Rexnord were worth $270,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Headlands Technologies LLC bought a new position in Regal Rexnord in the second quarter worth about $46,000. UMB Bank n.a. grew its stake in shares of 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. EntryPoint Capital LLC purchased a new stake in shares of Regal Rexnord during the first quarter worth about $68,000. 1620 Investment Advisors Inc. purchased a new stake in shares of Regal Rexnord during the second quarter worth about $52,000. Finally, GAMMA Investing LLC grew its stake in shares of Regal Rexnord by 13.9% during the second quarter. GAMMA Investing LLC now owns 647 shares of the company’s stock worth $87,000 after acquiring an additional 79 shares during the last quarter. 99.72% of the stock is currently owned by institutional investors.

Regal Rexnord Trading Up 0.9 %

Shares of RRX stock opened at $172.06 on Thursday. 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 company has a market cap of $11.40 billion, a price-to-earnings ratio of 54.28, a PEG ratio of 1.85 and a beta of 1.04. The stock has a 50 day simple moving average of $166.89 and a 200-day simple moving average of $156.73. Regal Rexnord Co. has a 1-year low of $111.33 and a 1-year high of $185.28.

Regal Rexnord (NYSE:RRX) last announced 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. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.53 billion. Regal Rexnord had a return on equity of 9.48% and a net margin of 3.41%. The business’s quarterly revenue was down 10.4% on a year-over-year basis. During the same period in the prior year, the company posted $2.10 EPS. On average, equities research analysts expect that Regal Rexnord Co. will post 9.2 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.81%. The ex-dividend date is Tuesday, December 31st. Regal Rexnord’s payout ratio is currently 44.16%.

Analysts Set New Price Targets

RRX has been the topic of a number of research analyst reports. Barclays boosted their price target on Regal Rexnord from $180.00 to $190.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Robert W. Baird dropped their target price on Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Loop Capital reiterated a “buy” rating and issued a $200.00 target price on shares of Regal Rexnord in a research report on Thursday, September 19th. The Goldman Sachs Group upped their target price on Regal Rexnord from $176.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, StockNews.com upgraded Regal Rexnord from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Regal Rexnord currently has an average rating of “Moderate Buy” and a consensus price target of $193.00.

Insider Buying and Selling at Regal Rexnord

In other news, CEO Louis V. Pinkham sold 8,774 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $180.03, for a total transaction of $1,579,583.22. Following the completion of the transaction, the chief executive officer now directly owns 149,618 shares in the company, valued at approximately $26,935,728.54. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.82% of the stock is owned by company insiders.

Regal Rexnord Company 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.