Crossmark Global Holdings Inc. Raises Holdings in Regal Rexnord Co. (NYSE:RRX)

Crossmark Global Holdings Inc. raised its position in Regal Rexnord Co. (NYSE:RRX) by 18.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,705 shares of the company’s stock after buying an additional 725 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Regal Rexnord were worth $780,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. CANADA LIFE ASSURANCE Co raised its stake in Regal Rexnord by 8.0% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 58,336 shares of the company’s stock valued at $10,515,000 after acquiring an additional 4,342 shares during the last quarter. Blair William & Co. IL lifted its holdings in shares of Regal Rexnord by 161.4% during the first quarter. Blair William & Co. IL now owns 7,770 shares of the company’s stock worth $1,399,000 after purchasing an additional 4,798 shares during the period. Westfield Capital Management Co. LP grew its position in Regal Rexnord by 18.6% in the 1st quarter. Westfield Capital Management Co. LP now owns 302,532 shares of the company’s stock valued at $54,486,000 after buying an additional 47,379 shares during the last quarter. PEAK6 Investments LLC increased its stake in Regal Rexnord by 52.2% in the 1st quarter. PEAK6 Investments LLC now owns 28,696 shares of the company’s stock valued at $5,168,000 after buying an additional 9,848 shares during the period. Finally, Harbor Capital Advisors Inc. purchased a new position in Regal Rexnord during the 2nd quarter worth $1,173,000. 99.72% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Regal Rexnord

In other Regal Rexnord news, CEO Louis V. Pinkham sold 8,774 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $180.03, for a total transaction of $1,579,583.22. Following the sale, the chief executive officer now directly owns 149,618 shares of the company’s stock, valued at $26,935,728.54. This trade represents a 5.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Robert W. Baird dropped their price target on shares of Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Loop Capital reissued a “buy” rating and set a $200.00 target price on shares of Regal Rexnord in a research note on Thursday, September 19th. Barclays lifted their price target on Regal Rexnord from $180.00 to $190.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Citigroup started coverage on Regal Rexnord in a research report on Monday, October 14th. They issued a “buy” rating and a $200.00 price objective for the company. Finally, The Goldman Sachs Group boosted their target price on shares of Regal Rexnord from $176.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $193.00.

Regal Rexnord Trading Down 1.6 %

NYSE:RRX opened at $169.73 on Friday. Regal Rexnord Co. has a 52-week low of $113.79 and a 52-week high of $185.28. The company has a quick ratio of 1.35, a current ratio of 2.45 and a debt-to-equity ratio of 0.87. The stock has a fifty day simple moving average of $167.71 and a 200-day simple moving average of $156.87. The company has a market capitalization of $11.24 billion, a PE ratio of 53.54, a price-to-earnings-growth ratio of 1.86 and a beta of 1.04.

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, topping analysts’ consensus estimates of $2.48 by $0.01. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Regal Rexnord had a net margin of 3.41% and a return on equity of 9.48%. The firm’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.10 earnings per share. On average, equities research analysts expect that Regal Rexnord Co. will post 9.25 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The business 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. This represents a $1.40 annualized dividend 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%.

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.