HighTower Advisors LLC Has $403,000 Stock Holdings in Regal Rexnord Co. (NYSE:RRX)

HighTower Advisors LLC increased its stake in Regal Rexnord Co. (NYSE:RRX) by 7.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,451 shares of the company’s stock after acquiring an additional 167 shares during the quarter. HighTower Advisors LLC’s holdings in Regal Rexnord were worth $403,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in RRX. PNC Financial Services Group Inc. lifted its position in shares of Regal Rexnord by 29.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 12,311 shares of the company’s stock worth $2,042,000 after purchasing an additional 2,783 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Regal Rexnord by 1.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 431,774 shares of the company’s stock worth $71,623,000 after buying an additional 4,752 shares during the last quarter. Natixis Advisors LLC lifted its holdings in Regal Rexnord by 15.3% in the third quarter. Natixis Advisors LLC now owns 86,933 shares of the company’s stock valued at $14,420,000 after buying an additional 11,568 shares during the period. Harbor Capital Advisors Inc. boosted its position in Regal Rexnord by 164.6% during the third quarter. Harbor Capital Advisors Inc. now owns 22,958 shares of the company’s stock valued at $3,808,000 after acquiring an additional 14,280 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in Regal Rexnord by 31.4% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 19,686 shares of the company’s stock worth $2,662,000 after acquiring an additional 4,701 shares during the period. 99.72% of the stock is currently owned by institutional investors.

Regal Rexnord Stock Down 0.0 %

Regal Rexnord stock opened at $155.96 on Friday. The firm’s fifty day moving average price is $170.99 and its two-hundred day moving average price is $159.20. Regal Rexnord Co. has a 1-year low of $130.94 and a 1-year high of $185.28. The firm has a market capitalization of $10.33 billion, a price-to-earnings ratio of 49.20, a price-to-earnings-growth ratio of 1.83 and a beta of 1.03. The company has a current ratio of 2.45, a quick ratio of 1.35 and a debt-to-equity ratio of 0.87.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings results on Monday, November 4th. The company reported $2.49 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 business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period last year, the company posted $2.10 earnings per share. Regal Rexnord’s quarterly revenue was down 10.4% compared to the same quarter last year. On average, equities research analysts predict that Regal Rexnord Co. will post 9.24 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend is Tuesday, December 31st. Regal Rexnord’s dividend payout ratio is currently 44.16%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RRX. Citigroup initiated coverage on Regal Rexnord in a research note on Monday, October 14th. They issued a “buy” rating and a $200.00 price objective on the stock. The Goldman Sachs Group boosted their price target on Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. StockNews.com upgraded shares of Regal Rexnord from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th. Jefferies Financial Group started coverage on shares of Regal Rexnord in a research note on Thursday, December 12th. They set a “buy” rating and a $215.00 target price on the stock. Finally, Loop Capital reaffirmed a “buy” rating and issued a $200.00 price target on shares of Regal Rexnord in a research note on Thursday, September 19th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.13.

Insider Buying and Selling

In other Regal Rexnord news, CEO Louis V. Pinkham sold 8,774 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $180.03, for a total value of $1,579,583.22. Following the completion of the transaction, the chief executive officer now owns 149,618 shares in the company, valued at $26,935,728.54. This trade represents a 5.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.82% of the stock is currently owned by insiders.

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.