Vontobel Holding Ltd. Sells 4,523 Shares of Regal Rexnord Corporation $RRX

Vontobel Holding Ltd. decreased its stake in shares of Regal Rexnord Corporation (NYSE:RRX) by 1.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 262,702 shares of the company’s stock after selling 4,523 shares during the quarter. Vontobel Holding Ltd. owned about 0.40% of Regal Rexnord worth $37,682,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Norges Bank purchased a new position in Regal Rexnord in the second quarter worth about $256,155,000. Nordea Investment Management AB bought a new position in Regal Rexnord in the 2nd quarter valued at approximately $224,889,000. Viking Global Investors LP increased its holdings in shares of Regal Rexnord by 25.7% in the 2nd quarter. Viking Global Investors LP now owns 3,430,128 shares of the company’s stock worth $497,231,000 after purchasing an additional 701,145 shares in the last quarter. Invesco Ltd. raised its stake in shares of Regal Rexnord by 36.6% in the second quarter. Invesco Ltd. now owns 1,274,266 shares of the company’s stock worth $184,718,000 after purchasing an additional 341,437 shares during the last quarter. Finally, Ceredex Value Advisors LLC boosted its position in shares of Regal Rexnord by 110.6% during the first quarter. Ceredex Value Advisors LLC now owns 386,225 shares of the company’s stock valued at $43,972,000 after buying an additional 202,825 shares during the last quarter. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Insider Transactions at Regal Rexnord

In other news, CEO Louis V. Pinkham sold 35,935 shares of the business’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $146.20, for a total value of $5,253,697.00. Following the transaction, the chief executive officer owned 103,262 shares of the company’s stock, valued at approximately $15,096,904.40. The trade was a 25.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.82% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RRX. KeyCorp dropped their price target on shares of Regal Rexnord from $180.00 to $170.00 and set an “overweight” rating on the stock in a report on Tuesday, October 14th. JPMorgan Chase & Co. reduced their price objective on Regal Rexnord from $200.00 to $190.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. Barclays reaffirmed an “overweight” rating and set a $165.00 price target on shares of Regal Rexnord in a research report on Monday, November 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Regal Rexnord in a report on Wednesday, October 8th. Finally, Citigroup upped their target price on shares of Regal Rexnord from $175.00 to $180.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Seven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Regal Rexnord currently has a consensus rating of “Moderate Buy” and a consensus price target of $179.63.

Regal Rexnord Stock Down 0.5%

Shares of RRX stock opened at $143.45 on Wednesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.05 and a quick ratio of 0.97. Regal Rexnord Corporation has a one year low of $90.56 and a one year high of $167.77. The company’s fifty day moving average price is $141.94 and its 200-day moving average price is $144.74. The company has a market capitalization of $9.52 billion, a price-to-earnings ratio of 37.07, a PEG ratio of 1.49 and a beta of 1.11.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings results on Friday, September 8th. The company reported $2.76 EPS for the quarter. Regal Rexnord had a return on equity of 9.64% and a net margin of 4.38%.The business had revenue of $1.85 billion for the quarter. Sell-side analysts expect that Regal Rexnord Corporation will post 9.95 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 14th. Shareholders of record on Wednesday, December 31st will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.0%. The ex-dividend date is Wednesday, December 31st. Regal Rexnord’s dividend payout ratio is presently 36.18%.

About Regal Rexnord

Regal Rexnord Corporation (NYSE: RRX) is a global industrial manufacturer specializing in electric motors, power generation equipment and automated motion control systems. The company designs, engineers and produces a broad portfolio of products that includes energy-efficient electric motors, variable frequency drives, gearboxes, couplings, bearings and power transmission components. These offerings support critical applications in industries such as heating, ventilation and air conditioning (HVAC), refrigeration, data centers, water treatment, food and beverage processing, mining, oil and gas, and material handling.

The company’s operations are organized into multiple business segments that address distinct customer needs.