Regal Rexnord Co. (NYSE:RRX) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado cut its holdings in shares of Regal Rexnord Co. (NYSE:RRX) by 9.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,893 shares of the company’s stock after selling 911 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Regal Rexnord were worth $1,369,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Belpointe Asset Management LLC boosted its position in Regal Rexnord by 139.1% during the first quarter. Belpointe Asset Management LLC now owns 208 shares of the company’s stock worth $29,000 after acquiring an additional 121 shares during the last quarter. Spire Wealth Management boosted its position in Regal Rexnord by 115.5% during the first quarter. Spire Wealth Management now owns 278 shares of the company’s stock worth $39,000 after acquiring an additional 149 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in Regal Rexnord during the first quarter worth about $42,000. Nomura Asset Management Co. Ltd. boosted its position in Regal Rexnord by 50.0% during the first quarter. Nomura Asset Management Co. Ltd. now owns 330 shares of the company’s stock worth $46,000 after acquiring an additional 110 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its position in Regal Rexnord by 945.0% during the first quarter. Global Retirement Partners LLC now owns 418 shares of the company’s stock worth $55,000 after acquiring an additional 378 shares during the last quarter. 96.67% of the stock is currently owned by institutional investors and hedge funds.

Regal Rexnord Stock Down 2.1 %

Shares of RRX opened at $115.05 on Friday. Regal Rexnord Co. has a fifty-two week low of $97.18 and a fifty-two week high of $166.00. The firm’s 50 day moving average price is $130.45 and its 200 day moving average price is $141.55. The company has a quick ratio of 1.59, a current ratio of 2.58 and a debt-to-equity ratio of 1.05.

Regal Rexnord (NYSE:RRX) last announced its earnings results on Wednesday, November 1st. The company reported $2.10 earnings per share for the quarter, missing the consensus estimate of $2.50 by ($0.40). Regal Rexnord had a positive return on equity of 9.92% and a negative net margin of 0.20%. The business had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the previous year, the company earned $2.66 earnings per share. Regal Rexnord’s quarterly revenue was up 24.5% on a year-over-year basis. As a group, analysts predict that Regal Rexnord Co. will post 9.13 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, December 29th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend is Thursday, December 28th. Regal Rexnord’s dividend payout ratio (DPR) is presently -777.78%.

Insiders Place Their Bets

In other news, Director Theodore D. Crandall purchased 2,000 shares of the stock in a transaction on Tuesday, November 7th. The stock was bought at an average price of $100.77 per share, for a total transaction of $201,540.00. Following the acquisition, the director now directly owns 6,207 shares of the company’s stock, valued at approximately $625,479.39. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP John Avampato sold 8,427 shares of Regal Rexnord stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $151.83, for a total transaction of $1,279,471.41. Following the sale, the vice president now directly owns 12,953 shares in the company, valued at approximately $1,966,653.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Theodore D. Crandall purchased 2,000 shares of Regal Rexnord stock in a transaction that occurred on Tuesday, November 7th. The stock was bought at an average cost of $100.77 per share, with a total value of $201,540.00. Following the completion of the transaction, the director now owns 6,207 shares of the company’s stock, valued at $625,479.39. The disclosure for this purchase can be found here. 0.98% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on RRX. StockNews.com began coverage on shares of Regal Rexnord in a report on Thursday, October 5th. They issued a “hold” rating on the stock. KeyCorp reduced their price target on shares of Regal Rexnord from $184.00 to $148.00 and set an “overweight” rating on the stock in a research note on Thursday, November 2nd. Robert W. Baird boosted their price target on shares of Regal Rexnord from $184.00 to $211.00 and gave the company an “outperform” rating in a research note on Wednesday, August 2nd. Oppenheimer reissued an “outperform” rating and issued a $200.00 price target on shares of Regal Rexnord in a research note on Wednesday, October 4th. Finally, TheStreet downgraded shares of Regal Rexnord from a “b-” rating to a “c” rating in a research note on Thursday, November 2nd. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Regal Rexnord currently has a consensus rating of “Moderate Buy” and an average target price of $186.00.

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. It operates in four segments: Commercial Systems, Industrial Systems, Climate Solutions, and Motion Control Solutions.