Regal Rexnord Co. (NYSE:RRX) Shares Sold by Mountain Pacific Investment Advisers LLC

Mountain Pacific Investment Advisers LLC lowered its stake in Regal Rexnord Co. (NYSE:RRX) by 13.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 72,217 shares of the company’s stock after selling 11,220 shares during the quarter. Mountain Pacific Investment Advisers LLC’s holdings in Regal Rexnord were worth $11,203,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Renaissance Technologies LLC purchased a new stake in Regal Rexnord during the second quarter worth about $949,000. Vanguard Personalized Indexing Management LLC lifted its holdings in Regal Rexnord by 7.9% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 5,521 shares of the company’s stock worth $731,000 after buying an additional 402 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in Regal Rexnord by 342.8% during the 2nd quarter. Hsbc Holdings PLC now owns 14,033 shares of the company’s stock worth $1,908,000 after buying an additional 10,864 shares in the last quarter. Intech Investment Management LLC boosted its position in Regal Rexnord by 879.3% in the 2nd quarter. Intech Investment Management LLC now owns 13,896 shares of the company’s stock valued at $1,879,000 after buying an additional 12,477 shares during the period. Finally, Sei Investments Co. increased its position in shares of Regal Rexnord by 16.7% during the second quarter. Sei Investments Co. now owns 21,093 shares of the company’s stock worth $2,852,000 after acquiring an additional 3,016 shares during the period. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. The Goldman Sachs Group lifted their target price on Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Robert W. Baird lowered their price objective on Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Jefferies Financial Group initiated coverage on shares of Regal Rexnord in a report on Thursday, December 12th. They issued a “buy” rating and a $215.00 target price on the stock. Citigroup lowered their price target on shares of Regal Rexnord from $210.00 to $190.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Finally, Barclays reduced their price objective on shares of Regal Rexnord from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $202.00.

Regal Rexnord Price Performance

Shares of RRX opened at $156.41 on Tuesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.45 and a quick ratio of 1.35. Regal Rexnord Co. has a 1-year low of $130.94 and a 1-year high of $185.28. The stock has a market cap of $10.36 billion, a PE ratio of 49.34, a price-to-earnings-growth ratio of 1.51 and a beta of 1.04. The firm has a fifty day moving average price of $164.03 and a 200 day moving average price of $161.79.

Regal Rexnord (NYSE:RRX) last posted its earnings results on Monday, November 4th. The company reported $2.49 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.01. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the business earned $2.10 EPS. As a group, sell-side analysts anticipate that Regal Rexnord Co. will post 9.24 EPS for the current year.

Regal Rexnord Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.90%. Regal Rexnord’s dividend payout ratio (DPR) is 44.16%.

Insider Buying and Selling at Regal Rexnord

In related news, CEO Louis V. Pinkham sold 8,774 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 149,618 shares of the company’s stock, valued at approximately $26,935,728.54. The trade was a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.82% of the stock is owned by corporate insiders.

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.