Rhumbline Advisers Lowers Stock Holdings in Regal Rexnord Corporation $RRX

Rhumbline Advisers reduced its position in Regal Rexnord Corporation (NYSE:RRX) by 0.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 181,233 shares of the company’s stock after selling 1,272 shares during the quarter. Rhumbline Advisers’ holdings in Regal Rexnord were worth $26,271,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP boosted its holdings in Regal Rexnord by 30.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,712,297 shares of the company’s stock valued at $194,955,000 after purchasing an additional 396,737 shares during the period. Nordea Investment Management AB bought a new position in shares of Regal Rexnord in the second quarter worth $224,889,000. The Manufacturers Life Insurance Company raised its position in shares of Regal Rexnord by 6.1% in the first quarter. The Manufacturers Life Insurance Company now owns 1,200,555 shares of the company’s stock worth $136,683,000 after buying an additional 69,438 shares in the last quarter. Nuveen LLC bought a new stake in Regal Rexnord during the first quarter valued at $117,996,000. Finally, Invesco Ltd. grew its position in Regal Rexnord by 76.3% during the first quarter. Invesco Ltd. now owns 932,829 shares of the company’s stock worth $106,203,000 after buying an additional 403,845 shares in the last quarter. Institutional investors own 99.72% of the company’s stock.

Regal Rexnord Price Performance

Shares of Regal Rexnord stock opened at $145.84 on Thursday. The company has a fifty day moving average of $141.43 and a 200-day moving average of $143.77. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 2.00. Regal Rexnord Corporation has a 52-week low of $90.56 and a 52-week high of $177.48. The stock has a market capitalization of $9.68 billion, a price-to-earnings ratio of 37.69, a price-to-earnings-growth ratio of 1.52 and a beta of 1.19.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings data on Friday, September 8th. The company reported $2.76 earnings per share (EPS) for the quarter. Regal Rexnord had a return on equity of 9.75% and a net margin of 4.38%.The firm had revenue of $1.85 billion for the quarter. Equities research analysts expect that Regal Rexnord Corporation will post 9.95 EPS for the current year.

Regal Rexnord Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 14th. Shareholders of record on Wednesday, December 31st will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, December 31st. Regal Rexnord’s payout ratio is 36.18%.

Insider Buying and Selling

In other Regal Rexnord news, CEO Louis V. Pinkham sold 35,935 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $146.20, for a total value of $5,253,697.00. Following the completion of the sale, the chief executive officer owned 103,262 shares in the company, valued at approximately $15,096,904.40. The trade was a 25.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.82% of the stock is owned by company insiders.

Analyst Ratings Changes

RRX has been the topic of several recent analyst reports. Zacks Research cut Regal Rexnord from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 4th. Barclays reaffirmed an “overweight” rating and issued a $165.00 target price on shares of Regal Rexnord in a research note on Monday, November 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Regal Rexnord in a research note on Wednesday, October 8th. JPMorgan Chase & Co. lowered their price objective on shares of Regal Rexnord from $200.00 to $190.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. Finally, KeyCorp dropped their price objective on shares of Regal Rexnord from $180.00 to $170.00 and set an “overweight” rating for the company in a report on Tuesday, October 14th. Eight research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $184.63.

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.