Louis V. Pinkham Sells 10,593 Shares of Regal Rexnord Co. (NYSE:RRX) Stock

Regal Rexnord Co. (NYSE:RRX) CEO Louis V. Pinkham sold 10,593 shares of the firm’s stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $140.33, for a total transaction of $1,486,515.69. Following the sale, the chief executive officer now owns 175,954 shares of the company’s stock, valued at approximately $24,691,624.82. This represents a 5.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Regal Rexnord Price Performance

Shares of Regal Rexnord stock opened at $141.52 on Friday. The firm has a fifty day simple moving average of $114.03 and a 200-day simple moving average of $141.45. The company has a current ratio of 2.26, a quick ratio of 1.25 and a debt-to-equity ratio of 0.87. Regal Rexnord Co. has a 1-year low of $90.56 and a 1-year high of $185.28. The stock has a market capitalization of $9.39 billion, a price-to-earnings ratio of 47.97, a PEG ratio of 1.37 and a beta of 1.11.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings data on Monday, May 5th. The company reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $0.33. Regal Rexnord had a net margin of 3.25% and a return on equity of 9.57%. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same period in the previous year, the company earned $2.00 earnings per share. Regal Rexnord’s revenue for the quarter was down 8.4% on a year-over-year basis. On average, sell-side analysts expect that Regal Rexnord Co. will post 9.95 earnings per share for the current year.

Regal Rexnord Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 14th. Investors of record on Monday, June 30th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend is Monday, June 30th. Regal Rexnord’s dividend payout ratio (DPR) is currently 39.89%.

Hedge Funds Weigh In On Regal Rexnord

A number of institutional investors and hedge funds have recently bought and sold shares of RRX. Skandinaviska Enskilda Banken AB publ increased its position in Regal Rexnord by 472.4% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company’s stock worth $25,000 after acquiring an additional 137 shares during the period. Bernard Wealth Management Corp. bought a new position in Regal Rexnord during the fourth quarter worth $30,000. Golden State Wealth Management LLC increased its position in Regal Rexnord by 106.2% during the first quarter. Golden State Wealth Management LLC now owns 268 shares of the company’s stock worth $31,000 after acquiring an additional 138 shares during the period. Aster Capital Management DIFC Ltd bought a new position in Regal Rexnord during the fourth quarter worth $33,000. Finally, Tobam bought a new position in Regal Rexnord during the fourth quarter worth $45,000. Institutional investors own 99.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Robert W. Baird raised their price target on shares of Regal Rexnord from $167.00 to $172.00 and gave the stock an “outperform” rating in a report on Wednesday, May 7th. Citigroup raised their price objective on shares of Regal Rexnord from $110.00 to $145.00 and gave the company a “buy” rating in a research report on Thursday, May 8th. Barclays raised their price objective on shares of Regal Rexnord from $155.00 to $160.00 and gave the company an “overweight” rating in a research report on Monday, May 12th. The Goldman Sachs Group cut their price objective on shares of Regal Rexnord from $183.00 to $163.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. Finally, Oppenheimer cut their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $171.25.

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.