Regal Rexnord Co. (NYSE:RRX) Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP cut its holdings in Regal Rexnord Co. (NYSE:RRX) by 1.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,365,677 shares of the company’s stock after selling 15,562 shares during the period. Dimensional Fund Advisors LP owned 2.06% of Regal Rexnord worth $210,173,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in RRX. Belpointe Asset Management LLC lifted its holdings in Regal Rexnord by 139.1% in the first quarter. Belpointe Asset Management LLC now owns 208 shares of the company’s stock valued at $29,000 after acquiring an additional 121 shares during the last quarter. Spire Wealth Management lifted its stake 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 purchasing an additional 149 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in Regal Rexnord during the first quarter worth $42,000. Nomura Asset Management Co. Ltd. lifted its stake 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 purchasing an additional 110 shares in the last quarter. Finally, Global Retirement Partners LLC lifted its stake 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 purchasing an additional 378 shares in the last quarter. 96.67% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Theodore D. Crandall acquired 2,000 shares of the company’s stock in a transaction on Tuesday, November 7th. The shares were bought at an average price of $100.77 per share, with a total value of $201,540.00. Following the completion of the acquisition, the director now owns 6,207 shares in the company, valued at approximately $625,479.39. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, VP John Avampato sold 8,427 shares of the stock in a transaction dated 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 completion of the sale, the vice president now owns 12,953 shares in the company, valued at $1,966,653.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Theodore D. Crandall bought 2,000 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The shares were acquired at an average price of $100.77 per share, with a total value of $201,540.00. Following the purchase, the director now directly owns 6,207 shares of the company’s stock, valued at approximately $625,479.39. The disclosure for this purchase can be found here. Corporate insiders own 0.98% of the company’s stock.

Wall Street Analysts Forecast Growth

RRX has been the topic of a number of research reports. Oppenheimer restated an “outperform” rating and set a $200.00 price target on shares of Regal Rexnord in a research note on Wednesday, October 4th. TheStreet lowered Regal Rexnord from a “b-” rating to a “c” rating in a research report on Thursday, November 2nd. KeyCorp cut their price objective on Regal Rexnord from $184.00 to $148.00 and set an “overweight” rating on the stock in a research report on Thursday, November 2nd. StockNews.com started coverage on Regal Rexnord in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Finally, Robert W. Baird upped their price objective on Regal Rexnord from $184.00 to $211.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 2nd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Regal Rexnord currently has a consensus rating of “Moderate Buy” and a consensus target price of $186.00.

Regal Rexnord Trading Up 0.7 %

NYSE:RRX opened at $115.89 on Friday. The business’s fifty day moving average price is $130.45 and its 200 day moving average price is $141.55. The company has a debt-to-equity ratio of 1.05, a current ratio of 2.58 and a quick ratio of 1.59. Regal Rexnord Co. has a 12 month low of $97.18 and a 12 month high of $166.00.

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

Regal Rexnord Announces Dividend

The company also recently disclosed 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 dividend yield of 1.21%. The ex-dividend date of this dividend is Thursday, December 28th. Regal Rexnord’s payout ratio is -777.78%.

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.