Captrust Financial Advisors Sells 68 Shares of Regal Rexnord Co. (NYSE:RRX)

Captrust Financial Advisors decreased its stake in shares of Regal Rexnord Co. (NYSE:RRX) by 1.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,860 shares of the company’s stock after selling 68 shares during the period. Captrust Financial Advisors’ holdings in Regal Rexnord were worth $972,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. lifted its holdings 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 valued at $2,042,000 after buying an additional 2,783 shares during the period. Natixis Advisors LLC lifted its holdings in Regal Rexnord by 15.3% in the third quarter. Natixis Advisors LLC now owns 86,933 shares of the company’s stock valued at $14,420,000 after acquiring an additional 11,568 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Regal Rexnord by 1.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 431,774 shares of the company’s stock worth $71,623,000 after purchasing an additional 4,752 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in shares of Regal Rexnord by 164.6% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 22,958 shares of the company’s stock valued at $3,808,000 after purchasing an additional 14,280 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of Regal Rexnord by 31.4% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 19,686 shares of the company’s stock valued at $2,662,000 after purchasing an additional 4,701 shares during the last quarter. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Insider Buying and Selling

In related news, CEO Louis V. Pinkham sold 8,774 shares of the company’s stock in a transaction on 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 owns 149,618 shares of the company’s stock, valued at $26,935,728.54. This represents a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.82% of the stock is owned by company insiders.

Regal Rexnord Price Performance

Shares of RRX opened at $170.45 on Tuesday. The business’s 50 day moving average is $171.42 and its 200 day moving average is $158.18. 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 12-month low of $124.50 and a 12-month high of $185.28. The company has a market capitalization of $11.29 billion, a PE ratio of 53.77, a price-to-earnings-growth ratio of 1.84 and a beta of 1.03.

Regal Rexnord (NYSE:RRX) last released its earnings results on Monday, November 4th. The company reported $2.49 EPS for the quarter, topping the consensus estimate of $2.48 by $0.01. The firm 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 company’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.10 earnings per share. Research analysts expect that Regal Rexnord Co. will post 9.25 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st will be issued a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.40 annualized dividend and a dividend yield of 0.82%. Regal Rexnord’s dividend payout ratio (DPR) is 44.16%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on RRX. Barclays boosted their target price on shares of Regal Rexnord from $190.00 to $205.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. StockNews.com upgraded Regal Rexnord from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th. Loop Capital reiterated a “buy” rating and set a $200.00 target price on shares of Regal Rexnord in a research report on Thursday, September 19th. Robert W. Baird reduced their price target on Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Finally, Citigroup initiated coverage on Regal Rexnord in a research report on Monday, October 14th. They set a “buy” rating and a $200.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $194.88.

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.