Regal Rexnord Co. (NYSE:RRX) Stake Raised by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its holdings in Regal Rexnord Co. (NYSE:RRX) by 1.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 431,774 shares of the company’s stock after buying an additional 4,752 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Regal Rexnord were worth $71,623,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Moors & Cabot Inc. bought a new position in shares of Regal Rexnord in the third quarter worth $341,000. Jennison Associates LLC lifted its holdings in Regal Rexnord by 4.7% in the third quarter. Jennison Associates LLC now owns 131,255 shares of the company’s stock worth $21,773,000 after purchasing an additional 5,942 shares during the period. Commerce Bank grew its position in Regal Rexnord by 1.6% in the 3rd quarter. Commerce Bank now owns 425,901 shares of the company’s stock valued at $70,648,000 after buying an additional 6,538 shares in the last quarter. Avior Wealth Management LLC increased its stake in Regal Rexnord by 17.5% during the 3rd quarter. Avior Wealth Management LLC now owns 3,182 shares of the company’s stock valued at $528,000 after buying an additional 474 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in shares of Regal Rexnord by 29.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 12,311 shares of the company’s stock worth $2,042,000 after buying an additional 2,783 shares in the last quarter. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Regal Rexnord Trading Down 1.3 %

Shares of RRX opened at $169.66 on Friday. The company has a current ratio of 2.45, a quick ratio of 1.35 and a debt-to-equity ratio of 0.87. Regal Rexnord Co. has a 1-year low of $114.18 and a 1-year high of $185.28. The stock has a market capitalization of $11.24 billion, a P/E ratio of 53.52, a P/E/G ratio of 1.97 and a beta of 1.04. The business’s 50-day moving average price is $170.87 and its 200 day moving average price is $157.52.

Regal Rexnord (NYSE:RRX) last released its earnings results on Monday, November 4th. The company reported $2.49 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.01. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate 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 period last year, the firm posted $2.10 earnings per share. Analysts expect that Regal Rexnord Co. will post 9.25 earnings per share for the current year.

Regal Rexnord Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st will be given a $0.35 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.40 annualized dividend and a dividend yield of 0.83%. Regal Rexnord’s dividend payout ratio (DPR) is presently 44.16%.

Analyst Ratings Changes

RRX has been the subject of several recent analyst reports. Barclays increased their price objective on shares of Regal Rexnord from $180.00 to $190.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Robert W. Baird dropped their price objective on 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 reaffirmed a “buy” rating and set a $200.00 target price on shares of Regal Rexnord in a research note on Thursday, September 19th. Citigroup assumed coverage on shares of Regal Rexnord in a research report on Monday, October 14th. They issued a “buy” rating and a $200.00 price target on the stock. Finally, StockNews.com raised shares of Regal Rexnord from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th. One investment 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, Regal Rexnord has an average rating of “Moderate Buy” and an average price target of $193.00.

Insider Activity

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 stock was sold at an average price of $180.03, for a total transaction of $1,579,583.22. Following the completion of the sale, the chief executive officer now directly owns 149,618 shares in the company, valued at approximately $26,935,728.54. This trade represents a 5.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.82% of the stock is currently owned by corporate insiders.

Regal Rexnord 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.