Thrivent Financial for Lutherans Has $21.72 Million Holdings in Regal Rexnord Co. (NYSE:RRX)

Thrivent Financial for Lutherans trimmed its holdings in Regal Rexnord Co. (NYSE:RRX) by 12.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 130,940 shares of the company’s stock after selling 19,013 shares during the period. Thrivent Financial for Lutherans’ holdings in Regal Rexnord were worth $21,720,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in RRX. Headlands Technologies LLC acquired a new position in shares of Regal Rexnord in the 2nd quarter valued at $46,000. UMB Bank n.a. boosted its holdings in 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 buying an additional 145 shares during the last quarter. EntryPoint Capital LLC acquired a new position in shares of Regal Rexnord in the 1st quarter valued at $68,000. 1620 Investment Advisors Inc. bought a new position in Regal Rexnord in the second quarter valued at approximately $52,000. Finally, GAMMA Investing LLC boosted its position 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 buying an additional 79 shares during the period. Institutional investors own 99.72% of the company’s stock.

Insider Activity

In related news, CEO Louis V. Pinkham sold 8,774 shares of the business’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 149,618 shares of the company’s stock, valued at approximately $26,935,728.54. The trade was a 5.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.82% of the company’s stock.

Regal Rexnord Trading Down 0.3 %

Regal Rexnord stock opened at $172.02 on Wednesday. The stock has a market cap of $11.39 billion, a P/E ratio of 54.26, a PEG ratio of 1.83 and a beta of 1.04. The firm’s 50 day moving average price is $168.21 and its 200-day moving average price is $156.88. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.45 and a quick ratio of 1.35. Regal Rexnord Co. has a 1 year low of $113.79 and a 1 year high of $185.28.

Regal Rexnord (NYSE:RRX) last issued its earnings results on Monday, November 4th. The company reported $2.49 EPS for the quarter, topping analysts’ consensus estimates of $2.48 by $0.01. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.53 billion. Regal Rexnord had a net margin of 3.41% and a return on equity of 9.48%. The company’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same period last year, the company posted $2.10 earnings per share. On average, equities analysts predict that Regal Rexnord Co. will post 9.25 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

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

Analysts Set New Price Targets

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

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.