Intech Investment Management LLC Has $1.58 Million Stake in Regal Rexnord Co. (NYSE:RRX)

Intech Investment Management LLC trimmed its holdings in shares of Regal Rexnord Co. (NYSE:RRX) by 31.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,521 shares of the company’s stock after selling 4,375 shares during the period. Intech Investment Management LLC’s holdings in Regal Rexnord were worth $1,579,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Harbor Capital Advisors Inc. acquired a new stake in shares of Regal Rexnord in the 2nd quarter valued at $1,173,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of Regal Rexnord by 31.4% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 19,686 shares of the company’s stock valued at $2,662,000 after buying an additional 4,701 shares during the period. Natixis Advisors LLC increased its stake in shares of Regal Rexnord by 15.3% in the 3rd quarter. Natixis Advisors LLC now owns 86,933 shares of the company’s stock valued at $14,420,000 after buying an additional 11,568 shares during the period. Texas Permanent School Fund Corp increased its stake in shares of Regal Rexnord by 7.0% in the 2nd quarter. Texas Permanent School Fund Corp now owns 62,101 shares of the company’s stock valued at $8,397,000 after buying an additional 4,076 shares during the period. Finally, TimesSquare Capital Management LLC increased its stake in shares of Regal Rexnord by 0.8% in the 3rd quarter. TimesSquare Capital Management LLC now owns 651,586 shares of the company’s stock valued at $108,085,000 after buying an additional 5,331 shares during the period. 99.72% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Regal Rexnord news, CEO Louis V. Pinkham sold 8,774 shares of Regal Rexnord 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 transaction, the chief executive officer now directly 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 legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on RRX. Robert W. Baird lowered their target price on Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. The Goldman Sachs Group lifted their target price on Regal Rexnord from $176.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. StockNews.com raised Regal Rexnord from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th. Loop Capital restated a “buy” rating and issued a $200.00 price target on shares of Regal Rexnord in a research report on Thursday, September 19th. Finally, Citigroup assumed coverage on Regal Rexnord in a research report on Monday, October 14th. They issued a “buy” rating and a $200.00 price target on the stock. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Regal Rexnord currently has an average rating of “Moderate Buy” and an average target price of $193.00.

Regal Rexnord Stock Up 2.7 %

NYSE:RRX opened at $182.22 on Tuesday. The stock’s fifty day simple moving average is $170.10 and its 200-day simple moving average is $157.21. The company has a quick ratio of 1.35, a current ratio of 2.45 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $12.07 billion, a P/E ratio of 57.48, a P/E/G ratio of 1.92 and a beta of 1.04. Regal Rexnord Co. has a 12-month low of $113.79 and a 12-month high of $185.28.

Regal Rexnord (NYSE:RRX) last posted its earnings results on Monday, November 4th. The company reported $2.49 earnings per share for the quarter, topping 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 return on equity of 9.48% and a net margin of 3.41%. The company’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.10 earnings per share. Equities research analysts expect that Regal Rexnord Co. will post 9.25 earnings per share for the current year.

Regal Rexnord Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st will be issued 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 yield of 0.77%. Regal Rexnord’s dividend payout ratio is presently 44.16%.

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.