Regal Rexnord Co. (NYSE:RRX) Shares Purchased by Cerity Partners LLC

Cerity Partners LLC raised its position in Regal Rexnord Co. (NYSE:RRX) by 11.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,632 shares of the company’s stock after acquiring an additional 276 shares during the quarter. Cerity Partners LLC’s holdings in Regal Rexnord were worth $436,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Headlands Technologies LLC purchased a new stake in shares of Regal Rexnord during the 2nd quarter worth $46,000. 1620 Investment Advisors Inc. purchased a new stake in Regal Rexnord during the 2nd quarter worth about $52,000. UMB Bank n.a. boosted its position in shares of Regal Rexnord by 72.5% during the 3rd quarter. UMB Bank n.a. now owns 345 shares of the company’s stock worth $57,000 after acquiring an additional 145 shares in the last quarter. CWM LLC boosted its position 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 acquiring an additional 167 shares in the last quarter. Finally, Quarry LP increased its holdings in shares of Regal Rexnord by 752.9% in the 2nd quarter. Quarry LP now owns 870 shares of the company’s stock valued at $118,000 after acquiring an additional 768 shares during the last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on RRX shares. StockNews.com raised Regal Rexnord from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th. Robert W. Baird lowered their target price on shares of Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Citigroup started coverage on shares of Regal Rexnord in a research note on Monday, October 14th. They set a “buy” rating and a $200.00 price target on the stock. Loop Capital restated a “buy” rating and issued a $200.00 price objective on shares of Regal Rexnord in a research note on Thursday, September 19th. Finally, Barclays lifted their target price on Regal Rexnord from $190.00 to $205.00 and gave the stock an “overweight” rating in a research report on Thursday. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Regal Rexnord currently has an average rating of “Moderate Buy” and a consensus price target of $194.88.

Regal Rexnord Stock Performance

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 P/E/G ratio of 1.87 and a beta of 1.03. Regal Rexnord Co. has a 52-week low of $122.49 and a 52-week high of $185.28. The business’s 50-day moving average price is $171.33 and its 200 day moving average price is $158.04. 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 (NYSE:RRX) last announced its earnings results on Monday, November 4th. The company reported $2.49 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.53 billion. During the same period last year, the business posted $2.10 EPS. The company’s revenue was down 10.4% on a year-over-year basis. On average, equities research analysts expect that Regal Rexnord Co. will post 9.25 earnings per share for the current year.

Regal Rexnord Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.82%. The ex-dividend date is Tuesday, December 31st. Regal Rexnord’s dividend payout ratio (DPR) is presently 44.16%.

Insider Activity

In other news, CEO Louis V. Pinkham sold 8,774 shares of the 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 transaction, the chief executive officer now directly owns 149,618 shares of the company’s stock, valued at approximately $26,935,728.54. This represents a 5.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.82% of the company’s stock.

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.