Allspring Global Investments Holdings LLC Sells 7,408 Shares of Regal Rexnord Corporation $RRX

Allspring Global Investments Holdings LLC reduced its position in shares of Regal Rexnord Corporation (NYSE:RRX) by 1.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 472,125 shares of the company’s stock after selling 7,408 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.71% of Regal Rexnord worth $68,977,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of RRX. Geneos Wealth Management Inc. raised its holdings in shares of Regal Rexnord by 135.1% in the first quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock valued at $25,000 after acquiring an additional 127 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in Regal Rexnord during the 3rd quarter worth about $27,000. Root Financial Partners LLC bought a new position in Regal Rexnord during the 3rd quarter worth about $28,000. SJS Investment Consulting Inc. increased its position in Regal Rexnord by 95.1% during the 3rd quarter. SJS Investment Consulting Inc. now owns 199 shares of the company’s stock valued at $29,000 after purchasing an additional 97 shares during the period. Finally, Advisory Services Network LLC bought a new stake in shares of Regal Rexnord in the 3rd quarter valued at about $35,000. 99.72% of the stock is owned by institutional investors.

Regal Rexnord Price Performance

NYSE RRX opened at $187.30 on Wednesday. The firm’s fifty day simple moving average is $194.31 and its two-hundred day simple moving average is $161.77. The company has a current ratio of 2.15, a quick ratio of 1.10 and a debt-to-equity ratio of 0.70. Regal Rexnord Corporation has a 12-month low of $90.56 and a 12-month high of $229.30. The firm has a market capitalization of $12.47 billion, a P/E ratio of 44.59, a P/E/G ratio of 1.66 and a beta of 1.05.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings data on Thursday, February 5th. The company reported $2.51 EPS for the quarter, beating the consensus estimate of $2.47 by $0.04. The firm had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.54 billion. Regal Rexnord had a return on equity of 9.60% and a net margin of 4.71%.The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.34 EPS. Analysts forecast that Regal Rexnord Corporation will post 9.95 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 31st will be paid a $0.35 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $1.40 dividend on an annualized basis and a yield of 0.7%. Regal Rexnord’s dividend payout ratio (DPR) is 33.33%.

Insiders Place Their Bets

In other news, CEO Louis V. Pinkham sold 36,728 shares of the business’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $215.52, for a total transaction of $7,915,618.56. Following the sale, the chief executive officer owned 83,337 shares in the company, valued at approximately $17,960,790.24. The trade was a 30.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Cheryl Lewis sold 2,262 shares of the company’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $215.73, for a total transaction of $487,981.26. Following the transaction, the executive vice president owned 13,219 shares in the company, valued at approximately $2,851,734.87. This trade represents a 14.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 53,451 shares of company stock worth $11,386,689 in the last three months. Insiders own 0.63% of the company’s stock.

Analyst Upgrades and Downgrades

RRX has been the subject of several research reports. Oppenheimer upped their price target on shares of Regal Rexnord from $180.00 to $225.00 and gave the stock an “outperform” rating in a research report on Friday, February 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Regal Rexnord in a research note on Thursday, January 22nd. Robert W. Baird set a $253.00 target price on Regal Rexnord in a report on Friday, February 6th. JPMorgan Chase & Co. increased their target price on Regal Rexnord from $190.00 to $230.00 and gave the company an “overweight” rating in a research report on Friday, February 6th. Finally, Zacks Research upgraded Regal Rexnord from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 30th. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Regal Rexnord has an average rating of “Moderate Buy” and a consensus target price of $228.50.

Regal Rexnord 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.