Regal Rexnord Corporation $RRX Position Decreased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its holdings in Regal Rexnord Corporation (NYSE:RRX) by 73.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,814 shares of the company’s stock after selling 77,933 shares during the period. Thrivent Financial for Lutherans’ holdings in Regal Rexnord were worth $4,031,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Geneos Wealth Management Inc. grew its position in Regal Rexnord by 135.1% in the first quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock worth $25,000 after buying an additional 127 shares during the last quarter. Allworth Financial LP boosted its stake in shares of Regal Rexnord by 85.7% during the 2nd quarter. Allworth Financial LP now owns 195 shares of the company’s stock worth $28,000 after acquiring an additional 90 shares in the last quarter. Tobam grew its holdings in shares of Regal Rexnord by 54.8% in the 2nd quarter. Tobam now owns 308 shares of the company’s stock worth $45,000 after acquiring an additional 109 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of Regal Rexnord by 91.6% during the first quarter. Jones Financial Companies Lllp now owns 617 shares of the company’s stock worth $70,000 after purchasing an additional 295 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Regal Rexnord by 369.3% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 779 shares of the company’s stock valued at $113,000 after purchasing an additional 613 shares during the last quarter. 99.72% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on RRX shares. Weiss Ratings reissued a “hold (c)” rating on shares of Regal Rexnord in a research note on Wednesday, October 8th. Citigroup raised their target price on shares of Regal Rexnord from $175.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. The Goldman Sachs Group cut their price target on shares of Regal Rexnord from $192.00 to $170.00 and set a “buy” rating on the stock in a report on Tuesday, September 16th. KeyCorp reduced their price target on shares of Regal Rexnord from $180.00 to $170.00 and set an “overweight” rating for the company in a research report on Tuesday, October 14th. Finally, Barclays reiterated an “overweight” rating and set a $165.00 price objective on shares of Regal Rexnord in a research report on Monday, November 3rd. Seven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Regal Rexnord currently has an average rating of “Moderate Buy” and an average price target of $179.63.

Insider Buying and Selling

In other Regal Rexnord news, CEO Louis V. Pinkham sold 35,935 shares of the company’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $146.20, for a total value of $5,253,697.00. Following the transaction, the chief executive officer directly owned 103,262 shares of the company’s stock, valued at $15,096,904.40. This represents a 25.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.82% of the stock is owned by company insiders.

Regal Rexnord Stock Performance

Shares of RRX opened at $140.00 on Friday. The company has a market capitalization of $9.29 billion, a PE ratio of 36.18, a PEG ratio of 1.45 and a beta of 1.11. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.97 and a current ratio of 2.05. The company’s 50 day moving average price is $141.84 and its 200 day moving average price is $144.62. Regal Rexnord Corporation has a 52 week low of $90.56 and a 52 week high of $167.77.

Regal Rexnord (NYSE:RRX) last released its earnings results 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 9.64%. The company had revenue of $1.85 billion during the quarter. Research analysts expect that Regal Rexnord Corporation will post 9.95 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

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

Regal Rexnord Company Profile

Regal Rexnord Corporation (NYSE: RRX) is a global industrial manufacturer specializing in electric motors, power generation equipment and automated motion control systems. The company designs, engineers and produces a broad portfolio of products that includes energy-efficient electric motors, variable frequency drives, gearboxes, couplings, bearings and power transmission components. These offerings support critical applications in industries such as heating, ventilation and air conditioning (HVAC), refrigeration, data centers, water treatment, food and beverage processing, mining, oil and gas, and material handling.

The company’s operations are organized into multiple business segments that address distinct customer needs.