Swiss National Bank Sells 900 Shares of Regal Rexnord Co. (NYSE:RRX)

Swiss National Bank cut its holdings in shares of Regal Rexnord Co. (NYSE:RRX) by 0.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 129,917 shares of the company’s stock after selling 900 shares during the period. Swiss National Bank’s holdings in Regal Rexnord were worth $21,551,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in RRX. Headlands Technologies LLC purchased a new position in shares of Regal Rexnord in the second quarter worth $46,000. UMB Bank n.a. raised its stake in Regal Rexnord by 72.5% in the 3rd quarter. UMB Bank n.a. now owns 345 shares of the company’s stock worth $57,000 after acquiring an additional 145 shares during the last quarter. EntryPoint Capital LLC acquired a new stake in Regal Rexnord during the 1st quarter worth about $68,000. 1620 Investment Advisors Inc. purchased a new stake in Regal Rexnord during the 2nd quarter valued at about $52,000. Finally, GAMMA Investing LLC increased its holdings in shares of Regal Rexnord by 13.9% in the second quarter. GAMMA Investing LLC now owns 647 shares of the company’s stock valued at $87,000 after purchasing an additional 79 shares during the period. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Insider Buying and Selling at Regal Rexnord

In other Regal Rexnord news, CEO Louis V. Pinkham sold 8,774 shares of the business’s stock in a transaction that occurred on 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 transaction, 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.82% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on RRX. Robert W. Baird reduced their price target on shares of Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Barclays boosted their target price on shares of Regal Rexnord from $180.00 to $190.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. StockNews.com raised Regal Rexnord from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group boosted their price objective on Regal Rexnord from $176.00 to $195.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, Citigroup began coverage on Regal Rexnord in a report on Monday, October 14th. They set a “buy” rating and a $200.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $193.00.

Regal Rexnord Price Performance

RRX stock opened at $173.74 on Friday. The business has a 50 day moving average price of $169.15 and a 200 day moving average price of $157.03. 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 market cap of $11.51 billion, a price-to-earnings ratio of 54.81, a PEG ratio of 1.86 and a beta of 1.04. Regal Rexnord Co. has a fifty-two week low of $113.79 and a fifty-two week high of $185.28.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings data on Monday, November 4th. The company reported $2.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.01. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.53 billion. Regal Rexnord had a return on equity of 9.48% and a net margin of 3.41%. The business’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter last year, the company posted $2.10 earnings per share. Equities research analysts anticipate 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. Investors of record on Tuesday, December 31st will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend is Tuesday, December 31st. Regal Rexnord’s dividend payout ratio (DPR) is presently 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.