Intech Investment Management LLC Has $1.58 Million Stake in Regal Rexnord Co. (NYSE:RRX)

Intech Investment Management LLC decreased its position in Regal Rexnord Co. (NYSE:RRX) by 31.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,521 shares of the company’s stock after selling 4,375 shares during the quarter. Intech Investment Management LLC’s holdings in Regal Rexnord were worth $1,579,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Diamond Hill Capital Management Inc. raised its stake in shares of Regal Rexnord by 7.1% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 3,181,886 shares of the company’s stock valued at $430,255,000 after purchasing an additional 209,776 shares during the period. Victory Capital Management Inc. increased its position in shares of Regal Rexnord by 42.7% in the second quarter. Victory Capital Management Inc. now owns 1,884,575 shares of the company’s stock valued at $254,832,000 after acquiring an additional 563,853 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Regal Rexnord by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,422,350 shares of the company’s stock valued at $192,338,000 after acquiring an additional 8,159 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Regal Rexnord by 24.7% in the second quarter. The Manufacturers Life Insurance Company now owns 1,125,445 shares of the company’s stock valued at $152,183,000 after acquiring an additional 222,775 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Regal Rexnord by 31.5% in the second quarter. Principal Financial Group Inc. now owns 714,179 shares of the company’s stock valued at $96,571,000 after acquiring an additional 171,069 shares during the last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.

Insider Transactions at Regal Rexnord

In other news, CEO Louis V. Pinkham sold 8,774 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was 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 owns 149,618 shares in the company, valued at $26,935,728.54. The trade was a 5.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on RRX. The Goldman Sachs Group lifted their target price on Regal Rexnord from $176.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Loop Capital reaffirmed a “buy” rating and issued a $200.00 target price on shares of Regal Rexnord in a research report on Thursday, September 19th. StockNews.com raised Regal Rexnord from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th. Robert W. Baird lowered their target price on Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Finally, Citigroup began coverage on Regal Rexnord in a research report on Monday, October 14th. They issued a “buy” rating and a $200.00 target price on the stock. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $193.00.

Regal Rexnord Price Performance

Shares of NYSE RRX opened at $182.22 on Tuesday. The business’s 50 day moving average price is $170.10 and its two-hundred day moving average price is $157.21. The company has a market cap of $12.07 billion, a PE ratio of 57.48, a price-to-earnings-growth ratio of 1.92 and a beta of 1.04. The company has a quick ratio of 1.35, a current ratio of 2.45 and a debt-to-equity ratio of 0.87. Regal Rexnord Co. has a twelve month low of $113.79 and a twelve month high of $185.28.

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

Regal Rexnord Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend is Tuesday, December 31st. Regal Rexnord’s dividend payout ratio is presently 44.16%.

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.