Mountain Pacific Investment Advisers Inc. ID Decreases Stock Holdings in Regal Rexnord Co. (NYSE:RRX)

Mountain Pacific Investment Advisers Inc. ID lowered its stake in Regal Rexnord Co. (NYSE:RRX) by 0.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 190,901 shares of the company’s stock after selling 1,279 shares during the quarter. Regal Rexnord accounts for 1.8% of Mountain Pacific Investment Advisers Inc. ID’s portfolio, making the stock its 23rd largest position. Mountain Pacific Investment Advisers Inc. ID owned about 0.29% of Regal Rexnord worth $28,257,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Cary Street Partners Investment Advisory LLC grew its holdings in shares of Regal Rexnord by 652.2% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 173 shares of the company’s stock worth $25,000 after acquiring an additional 150 shares during the period. GAMMA Investing LLC bought a new stake in shares of Regal Rexnord during the fourth quarter valued at approximately $58,000. Global Retirement Partners LLC boosted its position in shares of Regal Rexnord by 18.5% during the third quarter. Global Retirement Partners LLC now owns 493 shares of the company’s stock worth $68,000 after acquiring an additional 77 shares during the last quarter. CWM LLC increased its holdings in Regal Rexnord by 48.5% in the 4th quarter. CWM LLC now owns 738 shares of the company’s stock valued at $109,000 after acquiring an additional 241 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in shares of Regal Rexnord by 11,000.0% during the 4th quarter. International Assets Investment Management LLC now owns 888 shares of the company’s stock valued at $131,000 after purchasing an additional 880 shares during the last quarter. Institutional investors own 99.72% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Oppenheimer increased their price objective on shares of Regal Rexnord from $185.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, March 13th. KeyCorp raised their target price on shares of Regal Rexnord from $180.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, March 25th. Finally, Barclays lifted their target price on Regal Rexnord from $200.00 to $203.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $197.00.

Insider Transactions at Regal Rexnord

In related news, EVP Jerrald R. Morton sold 2,992 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $154.34, for a total value of $461,785.28. Following the transaction, the executive vice president now directly owns 15,884 shares of the company’s stock, valued at approximately $2,451,536.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Regal Rexnord news, EVP Jerrald R. Morton sold 2,992 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $154.34, for a total value of $461,785.28. Following the sale, the executive vice president now owns 15,884 shares of the company’s stock, valued at $2,451,536.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Thomas E. Valentyn sold 647 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $169.70, for a total value of $109,795.90. Following the completion of the sale, the executive vice president now owns 28,412 shares in the company, valued at $4,821,516.40. The disclosure for this sale can be found here. In the last three months, insiders sold 5,570 shares of company stock valued at $892,301. Insiders own 0.82% of the company’s stock.

Regal Rexnord Stock Up 1.3 %

Shares of RRX opened at $164.11 on Friday. The company has a current ratio of 2.55, a quick ratio of 1.59 and a debt-to-equity ratio of 1.00. The stock’s 50 day moving average is $169.93 and its two-hundred day moving average is $144.82. The firm has a market cap of $10.90 billion, a P/E ratio of -188.63, a PEG ratio of 1.63 and a beta of 1.14. Regal Rexnord Co. has a 12 month low of $97.18 and a 12 month high of $183.85.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $2.28 EPS for the quarter, topping the consensus estimate of $2.26 by $0.02. Regal Rexnord had a positive return on equity of 9.58% and a negative net margin of 0.92%. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the previous year, the firm earned $2.64 EPS. The company’s quarterly revenue was up 29.2% compared to the same quarter last year. Analysts predict that Regal Rexnord Co. will post 10.05 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.85%. Regal Rexnord’s payout ratio is -160.92%.

Regal Rexnord Company 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.