JPMorgan Chase & Co. Buys 28,278 Shares of Regal Rexnord Co. (NYSE:RRX)

JPMorgan Chase & Co. boosted its stake in Regal Rexnord Co. (NYSE:RRX) by 6.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 436,307 shares of the company’s stock after purchasing an additional 28,278 shares during the quarter. JPMorgan Chase & Co. owned about 0.66% of Regal Rexnord worth $72,375,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of RRX. CIBC Asset Management Inc boosted its position in shares of Regal Rexnord by 3.2% during the 3rd quarter. CIBC Asset Management Inc now owns 1,960 shares of the company’s stock worth $325,000 after acquiring an additional 61 shares in the last quarter. Hengehold Capital Management LLC boosted its stake in Regal Rexnord by 1.5% in the third quarter. Hengehold Capital Management LLC now owns 4,315 shares of the company’s stock valued at $716,000 after buying an additional 65 shares in the last quarter. 1620 Investment Advisors Inc. raised its stake in Regal Rexnord by 17.4% during the third quarter. 1620 Investment Advisors Inc. now owns 452 shares of the company’s stock worth $75,000 after acquiring an additional 67 shares in the last quarter. iA Global Asset Management Inc. boosted its stake in shares of Regal Rexnord by 2.7% in the 3rd quarter. iA Global Asset Management Inc. now owns 2,626 shares of the company’s stock valued at $436,000 after purchasing an additional 68 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Regal Rexnord by 2.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,616 shares of the company’s stock valued at $601,000 after purchasing an additional 95 shares during the last quarter. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Regal Rexnord Stock Up 3.5 %

Shares of NYSE:RRX opened at $158.68 on Friday. Regal Rexnord Co. has a 1 year low of $130.94 and a 1 year high of $185.28. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.45 and a quick ratio of 1.35. The business’s 50-day moving average is $167.72 and its 200-day moving average is $160.11. The company has a market capitalization of $10.51 billion, a price-to-earnings ratio of 50.06, a P/E/G ratio of 1.83 and a beta of 1.03.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings data 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. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.53 billion. Regal Rexnord had a net margin of 3.41% and a return on equity of 9.48%. The business’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.10 earnings per share. Equities research analysts predict that Regal Rexnord Co. will post 9.24 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date is Tuesday, December 31st. Regal Rexnord’s dividend payout ratio (DPR) is 44.16%.

Analyst Ratings Changes

RRX has been the topic of a number of research analyst reports. StockNews.com upgraded shares of Regal Rexnord from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group increased their target price on Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Jefferies Financial Group began coverage on Regal Rexnord in a research note on Thursday, December 12th. They issued a “buy” rating and a $215.00 price objective for the company. Robert W. Baird reduced their target price on shares of Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Finally, Barclays lifted their price target on shares of Regal Rexnord from $190.00 to $205.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $205.13.

Insider Buying and Selling at Regal Rexnord

In other Regal Rexnord news, CEO Louis V. Pinkham sold 8,774 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $180.03, for a total value 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 approximately $26,935,728.54. This trade represents a 5.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.82% of the company’s stock.

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.