Regal Rexnord Co. (NYSE:RRX) Shares Sold by Empire Life Investments Inc.

Empire Life Investments Inc. trimmed its position in Regal Rexnord Co. (NYSE:RRX) by 1.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 94,485 shares of the company’s stock after selling 1,016 shares during the period. Empire Life Investments Inc. owned approximately 0.14% of Regal Rexnord worth $15,673,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. CANADA LIFE ASSURANCE Co increased its stake in shares of Regal Rexnord by 8.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 58,336 shares of the company’s stock worth $10,515,000 after acquiring an additional 4,342 shares during the period. Blair William & Co. IL increased its position in Regal Rexnord by 161.4% during the 1st quarter. Blair William & Co. IL now owns 7,770 shares of the company’s stock worth $1,399,000 after purchasing an additional 4,798 shares during the period. Westfield Capital Management Co. LP raised its stake in shares of Regal Rexnord by 18.6% during the 1st quarter. Westfield Capital Management Co. LP now owns 302,532 shares of the company’s stock worth $54,486,000 after buying an additional 47,379 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Regal Rexnord by 1,036.4% in the 1st quarter. Daiwa Securities Group Inc. now owns 10,773 shares of the company’s stock valued at $1,940,000 after buying an additional 9,825 shares during the period. Finally, TimesSquare Capital Management LLC boosted its stake in shares of Regal Rexnord by 64.4% in the first quarter. TimesSquare Capital Management LLC now owns 466,475 shares of the company’s stock valued at $84,012,000 after buying an additional 182,770 shares in the last quarter. 99.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RRX has been the topic of a number of recent analyst reports. Loop Capital reaffirmed a “buy” rating and set a $200.00 price target on shares of Regal Rexnord in a research note on Thursday, September 19th. Robert W. Baird boosted their price objective on shares of Regal Rexnord from $208.00 to $213.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. KeyCorp lowered their target price on Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. The Goldman Sachs Group boosted their target price on shares of Regal Rexnord from $176.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, Citigroup initiated coverage on Regal Rexnord in a research report on Monday, October 14th. They set a “buy” rating and a $200.00 price target on the stock. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $193.63.

Regal Rexnord Stock Up 1.5 %

RRX stock opened at $169.02 on Friday. The firm has a market cap of $11.25 billion, a PE ratio of -8,451.00, a PEG ratio of 1.76 and a beta of 1.04. Regal Rexnord Co. has a 1 year low of $97.18 and a 1 year high of $183.85. The company has a fifty day simple moving average of $165.12 and a 200 day simple moving average of $156.06. The company has a current ratio of 2.45, a quick ratio of 1.38 and a debt-to-equity ratio of 0.91.

Regal Rexnord (NYSE:RRX) last released its earnings results on Wednesday, July 31st. The company reported $2.29 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.15. Regal Rexnord had a negative net margin of 0.02% and a positive return on equity of 9.16%. The firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same quarter in the previous year, the business earned $2.56 EPS. The business’s revenue was down 12.5% on a year-over-year basis. Sell-side analysts anticipate that Regal Rexnord Co. will post 9.48 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.40 annualized dividend and a dividend yield of 0.83%. Regal Rexnord’s dividend payout ratio (DPR) is presently -7,000.00%.

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.