Regal Rexnord Corporation $RRX Shares Sold by Campbell & CO Investment Adviser LLC

Campbell & CO Investment Adviser LLC lessened its holdings in shares of Regal Rexnord Corporation (NYSE:RRX) by 77.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,271 shares of the company’s stock after selling 7,732 shares during the period. Campbell & CO Investment Adviser LLC’s holdings in Regal Rexnord were worth $329,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of RRX. Diamond Hill Capital Management Inc. boosted its position in shares of Regal Rexnord by 6.0% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 3,083,622 shares of the company’s stock worth $351,070,000 after purchasing an additional 175,273 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Regal Rexnord by 30.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,712,297 shares of the company’s stock valued at $194,955,000 after purchasing an additional 396,737 shares during the period. Nordea Investment Management AB purchased a new stake in Regal Rexnord during the second quarter worth about $224,889,000. The Manufacturers Life Insurance Company grew its position in Regal Rexnord by 6.1% during the first quarter. The Manufacturers Life Insurance Company now owns 1,200,555 shares of the company’s stock worth $136,683,000 after buying an additional 69,438 shares during the period. Finally, Nuveen LLC acquired a new position in Regal Rexnord during the first quarter worth about $117,996,000. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Analysts Set New Price Targets

RRX has been the subject of a number of research reports. The Goldman Sachs Group reduced their price target on shares of Regal Rexnord from $192.00 to $170.00 and set a “buy” rating for the company in a research report on Tuesday, September 16th. Zacks Research cut Regal Rexnord from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 4th. Wall Street Zen lowered Regal Rexnord from a “strong-buy” rating to a “buy” rating in a report on Sunday, September 21st. Robert W. Baird set a $212.00 price target on Regal Rexnord in a research report on Friday, October 31st. Finally, Barclays reiterated an “overweight” rating and issued a $165.00 price objective on shares of Regal Rexnord in a research report on Monday, November 3rd. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $184.63.

Regal Rexnord Price Performance

Regal Rexnord stock opened at $137.36 on Monday. The firm’s 50-day moving average is $142.25 and its two-hundred day moving average is $143.08. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.00 and a quick ratio of 0.93. The stock has a market capitalization of $9.12 billion, a P/E ratio of 35.49, a P/E/G ratio of 1.52 and a beta of 1.19. Regal Rexnord Corporation has a 12-month low of $90.56 and a 12-month high of $182.70.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings data on Friday, September 8th. The company reported $2.76 earnings per share (EPS) for the quarter. Regal Rexnord had a net margin of 4.38% and a return on equity of 9.75%. The business had revenue of $1.85 billion for the quarter. Equities analysts predict that Regal Rexnord Corporation will post 9.95 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 14th. Stockholders of record on Wednesday, December 31st will be issued a dividend of $0.35 per share. The ex-dividend date is Wednesday, December 31st. This represents a $1.40 annualized dividend and a dividend yield of 1.0%. Regal Rexnord’s dividend payout ratio (DPR) is 36.18%.

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.