Regal Rexnord Co. (NYSE:RRX) Shares Sold by Sapience Investments LLC

Sapience Investments LLC cut its holdings in shares of Regal Rexnord Co. (NYSE:RRX) by 23.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,496 shares of the company’s stock after selling 1,060 shares during the period. Sapience Investments LLC’s holdings in Regal Rexnord were worth $542,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Victory Capital Management Inc. increased its position in shares of Regal Rexnord by 20.1% in the 4th quarter. Victory Capital Management Inc. now owns 2,176,963 shares of the company’s stock valued at $337,712,000 after acquiring an additional 363,728 shares during the period. Norges Bank acquired a new position in shares of Regal Rexnord in the 4th quarter valued at $235,188,000. Nuveen Asset Management LLC boosted its holdings in Regal Rexnord by 79.8% in the fourth quarter. Nuveen Asset Management LLC now owns 899,688 shares of the company’s stock valued at $139,569,000 after purchasing an additional 399,267 shares during the last quarter. TimesSquare Capital Management LLC boosted its holdings in Regal Rexnord by 35.7% in the fourth quarter. TimesSquare Capital Management LLC now owns 884,095 shares of the company’s stock valued at $137,150,000 after purchasing an additional 232,509 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Regal Rexnord by 56.8% in the fourth quarter. JPMorgan Chase & Co. now owns 683,980 shares of the company’s stock valued at $106,106,000 after purchasing an additional 247,673 shares during the last quarter. 99.72% of the stock is owned by institutional investors and hedge funds.

Regal Rexnord Stock Up 1.3%

Shares of NYSE RRX opened at $141.52 on Friday. The company has a 50 day simple moving average of $114.03 and a 200-day simple moving average of $141.65. The company has a market capitalization of $9.39 billion, a P/E ratio of 47.97, a P/E/G ratio of 1.37 and a beta of 1.11. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.26 and a quick ratio of 1.25. Regal Rexnord Co. has a 1 year low of $90.56 and a 1 year high of $185.28.

Regal Rexnord (NYSE:RRX) last posted 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. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.38 billion. Regal Rexnord had a net margin of 3.25% and a return on equity of 9.57%. The firm’s quarterly revenue was down 8.4% on a year-over-year basis. During the same quarter last year, the company posted $2.00 EPS. On average, equities research analysts predict that Regal Rexnord Co. will post 9.95 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Monday, June 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.99%. Regal Rexnord’s payout ratio is currently 39.89%.

Wall Street Analysts Forecast Growth

Several research firms have commented on RRX. KeyCorp lowered their price target on shares of Regal Rexnord from $180.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Oppenheimer lowered their target price on shares of Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. Barclays upped their price target on shares of Regal Rexnord from $155.00 to $160.00 and gave the stock an “overweight” rating in a research report on Monday, May 12th. StockNews.com downgraded shares of Regal Rexnord from a “buy” rating to a “hold” rating in a research report on Wednesday, April 16th. Finally, The Goldman Sachs Group reduced their price target on shares of Regal Rexnord from $183.00 to $163.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $171.25.

Insider Buying and Selling

In related news, CEO Louis V. Pinkham sold 10,593 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $140.33, for a total transaction of $1,486,515.69. Following the completion of the transaction, the chief executive officer now owns 175,954 shares of the company’s stock, valued at approximately $24,691,624.82. This trade represents a 5.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.82% of the stock is currently owned by corporate insiders.

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.