Cerity Partners LLC Raises Stock Position in Regal Rexnord Co. (NYSE:RRX)

Cerity Partners LLC grew its stake in shares of Regal Rexnord Co. (NYSE:RRX) by 11.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,632 shares of the company’s stock after acquiring an additional 276 shares during the period. Cerity Partners LLC’s holdings in Regal Rexnord were worth $436,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Headlands Technologies LLC purchased a new position in Regal Rexnord in the 2nd quarter valued at approximately $46,000. UMB Bank n.a. grew its holdings in Regal Rexnord by 72.5% in the third quarter. UMB Bank n.a. now owns 345 shares of the company’s stock valued at $57,000 after purchasing an additional 145 shares during the last quarter. 1620 Investment Advisors Inc. purchased a new position in shares of Regal Rexnord in the second quarter valued at $52,000. CWM LLC raised its stake in shares of Regal Rexnord by 25.4% during the 2nd quarter. CWM LLC now owns 825 shares of the company’s stock worth $112,000 after buying an additional 167 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Regal Rexnord by 30.0% in the 3rd quarter. GAMMA Investing LLC now owns 841 shares of the company’s stock worth $140,000 after buying an additional 194 shares in the last quarter. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Insider Activity

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on RRX. StockNews.com upgraded shares of Regal Rexnord from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th. Loop Capital reiterated a “buy” rating and issued a $200.00 price target on shares of Regal Rexnord in a research report on Thursday, September 19th. Barclays lifted their price objective on Regal Rexnord from $190.00 to $205.00 and gave the stock an “overweight” rating in a research report on Thursday. Citigroup assumed coverage on Regal Rexnord in a research note on Monday, October 14th. They issued a “buy” rating and a $200.00 target price on the stock. Finally, Robert W. Baird dropped their price target 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. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $194.88.

Regal Rexnord Stock Up 0.9 %

Shares of NYSE RRX opened at $170.45 on Monday. The firm has a market cap of $11.29 billion, a P/E ratio of 53.77, a price-to-earnings-growth ratio of 1.87 and a beta of 1.03. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.35 and a current ratio of 2.45. Regal Rexnord Co. has a 1 year low of $122.49 and a 1 year high of $185.28. The firm’s 50 day moving average price is $171.33 and its 200 day moving average price is $158.04.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings data on Monday, November 4th. The company reported $2.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.01. The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Regal Rexnord had a return on equity of 9.48% and a net margin of 3.41%. The business’s revenue was down 10.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.10 earnings per share. As a group, sell-side analysts anticipate that Regal Rexnord Co. will post 9.25 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.82%. The ex-dividend date is Tuesday, December 31st. Regal Rexnord’s dividend payout ratio (DPR) 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.