Chartwell Investment Partners LLC Sells 2,682 Shares of Regal Rexnord Co. (NYSE:RRX)

Chartwell Investment Partners LLC reduced its stake in shares of Regal Rexnord Co. (NYSE:RRX) by 12.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 18,694 shares of the company’s stock after selling 2,682 shares during the quarter. Chartwell Investment Partners LLC’s holdings in Regal Rexnord were worth $3,101,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Headlands Technologies LLC bought a new position in Regal Rexnord during the second quarter valued at about $46,000. 1620 Investment Advisors Inc. acquired a new position in shares of Regal Rexnord in the 2nd quarter worth approximately $52,000. UMB Bank n.a. raised its position 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 purchasing an additional 145 shares during the last quarter. EntryPoint Capital LLC bought a new position in Regal Rexnord in the 1st quarter worth approximately $68,000. Finally, GAMMA Investing LLC raised its position in Regal Rexnord by 13.9% in the 2nd quarter. GAMMA Investing LLC now owns 647 shares of the company’s stock worth $87,000 after purchasing an additional 79 shares during the last quarter. 99.72% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Regal Rexnord

In other news, CEO Louis V. Pinkham sold 8,774 shares of Regal Rexnord stock in a transaction on Thursday, November 7th. The shares were 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 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.82% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on RRX shares. Loop Capital reiterated a “buy” rating and set a $200.00 target price on shares of Regal Rexnord in a research report on Thursday, September 19th. The Goldman Sachs Group upped their target price on shares of Regal Rexnord from $176.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Barclays upped their target price on shares of Regal Rexnord from $180.00 to $190.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Robert W. Baird reduced their price objective on shares of Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Finally, Citigroup started coverage on shares of Regal Rexnord in a research note on Monday, October 14th. They issued a “buy” rating and a $200.00 target price for the company. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $193.00.

Regal Rexnord Stock Down 3.2 %

Regal Rexnord stock opened at $170.58 on Wednesday. Regal Rexnord Co. has a twelve month low of $108.64 and a twelve month high of $185.28. The company’s 50-day moving average price is $166.46 and its two-hundred day moving average price is $156.63. The stock has a market cap of $11.30 billion, a P/E ratio of 53.81, a P/E/G ratio of 1.90 and a beta of 1.04. The company has a quick ratio of 1.38, a current ratio of 2.45 and a debt-to-equity ratio of 0.87.

Regal Rexnord (NYSE:RRX) last announced its earnings results on Monday, November 4th. The company reported $2.49 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 analysts’ expectations 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 period last year, the firm earned $2.10 earnings per share. As a group, analysts expect that Regal Rexnord Co. will post 9.2 EPS for the current year.

Regal Rexnord Dividend Announcement

The company 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 dividend of $0.35 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.40 annualized dividend and a dividend yield of 0.82%. Regal Rexnord’s dividend payout ratio is 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.