Regal Rexnord Co. (NYSE:RRX) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. cut its stake in Regal Rexnord Co. (NYSE:RRX) by 1.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,783 shares of the company’s stock after selling 250 shares during the period. Pacer Advisors Inc.’s holdings in Regal Rexnord were worth $2,293,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of RRX. KBC Group NV increased its stake in Regal Rexnord by 1,136.7% in the 4th quarter. KBC Group NV now owns 22,199 shares of the company’s stock valued at $3,444,000 after purchasing an additional 20,404 shares in the last quarter. First Citizens Bank & Trust Co. acquired a new position in shares of Regal Rexnord during the 4th quarter worth $213,000. Chesley Taft & Associates LLC boosted its position in shares of Regal Rexnord by 5.8% in the 4th quarter. Chesley Taft & Associates LLC now owns 9,095 shares of the company’s stock worth $1,411,000 after buying an additional 500 shares in the last quarter. Harbor Capital Advisors Inc. increased its holdings in Regal Rexnord by 3.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 23,772 shares of the company’s stock valued at $3,688,000 after acquiring an additional 814 shares in the last quarter. Finally, First Hawaiian Bank acquired a new position in Regal Rexnord during the fourth quarter worth about $811,000. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Regal Rexnord Stock Down 2.8 %

Shares of NYSE:RRX opened at $158.56 on Friday. The company has a current ratio of 2.45, a quick ratio of 1.35 and a debt-to-equity ratio of 0.87. The firm has a market cap of $10.50 billion, a price-to-earnings ratio of 50.02, a PEG ratio of 1.55 and a beta of 1.04. The stock’s 50-day moving average price is $162.26 and its two-hundred day moving average price is $162.92. Regal Rexnord Co. has a 12-month low of $130.94 and a 12-month high of $185.28.

Regal Rexnord (NYSE:RRX) last released its earnings results on Monday, November 4th. The company reported $2.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.01. Regal Rexnord had a net margin of 3.41% and a return on equity of 9.48%. The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same period last year, the company earned $2.10 earnings per share. The company’s quarterly revenue was down 10.4% on a year-over-year basis. On average, research analysts forecast that Regal Rexnord Co. will post 9.24 EPS for the current year.

Regal Rexnord Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.35 per share. The ex-dividend date is Monday, March 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.88%. Regal Rexnord’s payout ratio is 44.16%.

Insider Buying and Selling

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

Analysts Set New Price Targets

Several research firms have recently commented on RRX. Citigroup lowered their price target on shares of Regal Rexnord from $210.00 to $190.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. The Goldman Sachs Group boosted their price target on Regal Rexnord from $191.00 to $213.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Robert W. Baird reduced their price objective on Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Jefferies Financial Group began coverage on Regal Rexnord in a research report on Thursday, December 12th. They set a “buy” rating and a $215.00 price objective for the company. Finally, StockNews.com lowered shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 16th. 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 company currently has an average rating of “Moderate Buy” and a consensus price target of $202.00.

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.