First Hawaiian Bank Buys Shares of 5,230 Regal Rexnord Co. (NYSE:RRX)

First Hawaiian Bank bought a new stake in Regal Rexnord Co. (NYSE:RRX) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,230 shares of the company’s stock, valued at approximately $811,000.

Other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its stake in Regal Rexnord by 6.9% in the third quarter. JPMorgan Chase & Co. now owns 436,307 shares of the company’s stock valued at $72,375,000 after acquiring an additional 28,278 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Regal Rexnord by 0.9% in the third quarter. Geode Capital Management LLC now owns 1,104,090 shares of the company’s stock valued at $183,195,000 after purchasing an additional 9,338 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Regal Rexnord by 29.2% in the third quarter. PNC Financial Services Group Inc. now owns 12,311 shares of the company’s stock valued at $2,042,000 after purchasing an additional 2,783 shares during the period. Franklin Resources Inc. raised its position in shares of Regal Rexnord by 7.2% in the third quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company’s stock valued at $204,254,000 after purchasing an additional 77,215 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Regal Rexnord by 1.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 431,774 shares of the company’s stock valued at $71,623,000 after purchasing an additional 4,752 shares during the period. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other 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 sale, the chief executive officer now owns 149,618 shares in the company, valued at approximately $26,935,728.54. The trade was a 5.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.82% of the stock is owned by corporate insiders.

Regal Rexnord Trading Down 3.8 %

Shares of Regal Rexnord stock opened at $149.36 on Friday. The firm has a market capitalization of $9.89 billion, a PE ratio of 47.12, a price-to-earnings-growth ratio of 1.83 and a beta of 1.04. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.45 and a quick ratio of 1.35. The company’s fifty day moving average price is $166.70 and its two-hundred day moving average price is $160.52. Regal Rexnord Co. has a 52-week low of $130.94 and a 52-week high of $185.28.

Regal Rexnord (NYSE:RRX) last announced its quarterly 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 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 business’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.10 EPS. On average, analysts expect that Regal Rexnord Co. will post 9.24 EPS for the current 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 paid 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 0.94%. Regal Rexnord’s dividend payout ratio is presently 44.16%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group lifted their price target on shares of Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Loop Capital reissued a “buy” rating and issued a $200.00 price target on shares of Regal Rexnord in a research report on Thursday, September 19th. 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 report on Wednesday, November 6th. Jefferies Financial Group initiated coverage on shares of Regal Rexnord in a research report on Thursday, December 12th. They issued a “buy” rating and a $215.00 price target on the stock. Finally, Barclays dropped their target price on shares of Regal Rexnord from $205.00 to $190.00 and set an “overweight” rating on the stock in a research report on Wednesday. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $203.25.

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.