Regal Rexnord Co. (NYSE:RRX) Shares Sold by Bank of Montreal Can

Bank of Montreal Can decreased its stake in shares of Regal Rexnord Co. (NYSE:RRX) by 1.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 68,518 shares of the company’s stock after selling 704 shares during the period. Bank of Montreal Can’s holdings in Regal Rexnord were worth $11,455,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of RRX. CIBC Asset Management Inc increased its stake in Regal Rexnord by 3.2% during the third quarter. CIBC Asset Management Inc now owns 1,960 shares of the company’s stock valued at $325,000 after purchasing an additional 61 shares during the last quarter. Hengehold Capital Management LLC grew its position in shares of Regal Rexnord by 1.5% during the 3rd 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 during 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 during the period. GAMMA Investing LLC lifted its holdings in Regal Rexnord by 13.9% in the second quarter. GAMMA Investing LLC now owns 647 shares of the company’s stock worth $87,000 after acquiring an additional 79 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in Regal Rexnord by 2.7% in the third quarter. Nisa Investment Advisors LLC now owns 3,616 shares of the company’s stock valued at $601,000 after acquiring an additional 95 shares during the period. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Citigroup initiated coverage on Regal Rexnord in a report on Monday, October 14th. They issued a “buy” rating and a $200.00 price target on the stock. StockNews.com upgraded shares of Regal Rexnord from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th. Loop Capital reiterated a “buy” rating and issued a $200.00 price objective on shares of Regal Rexnord in a research report on Thursday, September 19th. Barclays upped their target price on shares of Regal Rexnord from $180.00 to $190.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Finally, Robert W. Baird cut their price target on Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $193.00.

Regal Rexnord Price Performance

NYSE RRX opened at $172.71 on Monday. The firm has a market capitalization of $11.44 billion, a PE ratio of 54.48, a P/E/G ratio of 1.87 and a beta of 1.04. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.45 and a quick ratio of 1.35. Regal Rexnord Co. has a 12 month low of $117.32 and a 12 month high of $185.28. The company’s 50 day simple moving average is $170.84 and its 200 day simple moving average is $157.58.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings data 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 company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the previous year, the business earned $2.10 EPS. The company’s quarterly revenue was down 10.4% compared to the same quarter last year. As a group, equities research analysts forecast that Regal Rexnord Co. will post 9.25 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st will be paid a $0.35 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.40 annualized dividend and a dividend yield of 0.81%. Regal Rexnord’s dividend payout ratio is currently 44.16%.

Insider Buying and Selling

In other Regal Rexnord news, CEO Louis V. Pinkham sold 8,774 shares of Regal Rexnord stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 149,618 shares in the company, valued at approximately $26,935,728.54. The trade was a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.82% of the company’s stock.

Regal Rexnord 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.