Regal Rexnord Co. (NYSE:RRX) CEO Louis V. Pinkham Sells 8,774 Shares of Stock

Regal Rexnord Co. (NYSE:RRX) CEO Louis V. Pinkham sold 8,774 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $180.03, for a total value of $1,579,583.22. Following the sale, the chief executive officer now owns 149,618 shares of the company’s stock, valued at approximately $26,935,728.54. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Regal Rexnord Stock Performance

RRX stock opened at $170.58 on Wednesday. The company has a quick ratio of 1.38, a current ratio of 2.45 and a debt-to-equity ratio of 0.87. The firm has a market cap of $11.30 billion, a PE ratio of 53.81, a P/E/G ratio of 1.90 and a beta of 1.04. The business has a 50 day moving average of $166.46 and a 200-day moving average of $156.63. Regal Rexnord Co. has a 12-month low of $108.64 and a 12-month 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 (EPS) for the quarter, beating the consensus estimate of $2.48 by $0.01. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.53 billion. Regal Rexnord had a return on equity of 9.48% and a net margin of 3.41%. The business’s revenue was down 10.4% compared to the same quarter last year. During the same period last year, the firm posted $2.10 EPS. As a group, sell-side analysts expect that Regal Rexnord Co. will post 9.2 earnings per share for the current 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 paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date of this dividend is Tuesday, December 31st. Regal Rexnord’s payout ratio is 44.16%.

Analyst Ratings Changes

A number of analysts have commented on RRX shares. StockNews.com upgraded shares of Regal Rexnord from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th. Robert W. Baird decreased their target price on shares of Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Loop Capital reaffirmed a “buy” rating and issued a $200.00 price target on shares of Regal Rexnord in a research report on Thursday, September 19th. Citigroup initiated coverage on Regal Rexnord in a report on Monday, October 14th. They set a “buy” rating and a $200.00 price objective for the company. Finally, Barclays raised their target price on Regal Rexnord from $180.00 to $190.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $193.00.

Institutional Investors Weigh In On Regal Rexnord

Large investors have recently modified their holdings of the stock. Headlands Technologies LLC bought a new position in Regal Rexnord during the second quarter valued at $46,000. 1620 Investment Advisors Inc. purchased a new position in shares of Regal Rexnord during the 2nd quarter valued at $52,000. UMB Bank n.a. grew its stake in shares of Regal Rexnord by 72.5% during the 3rd 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 period. EntryPoint Capital LLC bought a new stake in Regal Rexnord in the 1st quarter valued at about $68,000. Finally, GAMMA Investing LLC lifted its holdings in Regal Rexnord by 13.9% during the second quarter. GAMMA Investing LLC now owns 647 shares of the company’s stock valued at $87,000 after purchasing an additional 79 shares during the last quarter. Hedge funds and other institutional investors own 99.72% of the company’s stock.

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.