Insider Selling: Regal Rexnord (NYSE:RRX) CFO Sells $287,614.57 in Stock

Regal Rexnord Corporation (NYSE:RRX) CFO Robert Rehard sold 1,289 shares of the business’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $223.13, for a total transaction of $287,614.57. Following the sale, the chief financial officer owned 35,415 shares in the company, valued at approximately $7,902,148.95. This trade represents a 3.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Robert Rehard also recently made the following trade(s):

• On Wednesday, February 25th, Robert Rehard sold 968 shares of Regal Rexnord stock. The stock was sold at an average price of $223.00, for a total transaction of $215,864.00.
• On Monday, February 9th, Robert Rehard sold 7,704 shares of Regal Rexnord stock. The shares were sold at an average price of $216.72, for a total transaction of $1,669,610.88.

Regal Rexnord Price Performance

Shares of RRX opened at $220.86 on Friday. Regal Rexnord Corporation has a fifty-two week low of $90.56 and a fifty-two week high of $229.30. The firm’s 50-day simple moving average is $175.47 and its two-hundred day simple moving average is $154.72. The stock has a market cap of $14.69 billion, a PE ratio of 52.59, a price-to-earnings-growth ratio of 2.05 and a beta of 1.13. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.10 and a current ratio of 2.15.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings results on Thursday, February 5th. The company reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. The firm had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Regal Rexnord had a return on equity of 9.60% and a net margin of 4.71%.The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.34 EPS. Analysts anticipate that Regal Rexnord Corporation will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 31st will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Tuesday, March 31st. Regal Rexnord’s payout ratio is 33.33%.

Wall Street Analyst Weigh In

RRX has been the topic of a number of analyst reports. Oppenheimer upped their price target on shares of Regal Rexnord from $180.00 to $225.00 and gave the stock an “outperform” rating in a research note on Friday, February 6th. Barclays upped their target price on shares of Regal Rexnord from $165.00 to $237.00 and gave the stock an “overweight” rating in a research note on Monday, February 9th. Jefferies Financial Group downgraded shares of Regal Rexnord from a “buy” rating to a “hold” rating and reduced their price target for the company from $170.00 to $160.00 in a research report on Wednesday, December 10th. Citigroup upped their price objective on Regal Rexnord from $180.00 to $230.00 and gave the company a “buy” rating in a research report on Monday, February 9th. Finally, The Goldman Sachs Group increased their target price on Regal Rexnord from $170.00 to $230.00 and gave the company a “buy” rating in a research note on Monday, February 9th. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Regal Rexnord currently has a consensus rating of “Moderate Buy” and a consensus price target of $227.50.

Hedge Funds Weigh In On Regal Rexnord

A number of institutional investors and hedge funds have recently modified their holdings of the company. IFP Advisors Inc increased its position in Regal Rexnord by 34.0% during the fourth quarter. IFP Advisors Inc now owns 193 shares of the company’s stock valued at $27,000 after acquiring an additional 49 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of Regal Rexnord by 6.5% during the 4th quarter. Parallel Advisors LLC now owns 888 shares of the company’s stock valued at $125,000 after purchasing an additional 54 shares during the period. Northwestern Mutual Investment Management Company LLC increased its position in shares of Regal Rexnord by 0.4% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 14,855 shares of the company’s stock valued at $2,084,000 after purchasing an additional 60 shares during the last quarter. UMB Bank n.a. lifted its stake in shares of Regal Rexnord by 6.2% in the 4th quarter. UMB Bank n.a. now owns 1,023 shares of the company’s stock worth $144,000 after purchasing an additional 60 shares during the period. Finally, Allworth Financial LP boosted its holdings in shares of Regal Rexnord by 35.9% in the third quarter. Allworth Financial LP now owns 265 shares of the company’s stock worth $38,000 after buying an additional 70 shares during the last quarter. 99.72% of the stock is currently owned by hedge funds and other institutional investors.

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.