Key Points
- CEO Louis Pinkham sold 35,935 shares on Nov. 25 at an average price of $146.20 for total proceeds of $5,253,697, leaving him with 103,262 shares (a 25.82% reduction in his position).
- Regal Rexnord declared a quarterly dividend of $0.35 (annualized $1.40) with an ex-dividend and record date of Dec. 31 and a payment date of Jan. 14, implying a ~1.0% yield.
- The stock has a market cap of $9.68 billion, a P/E of 37.69 and a 52-week range of $90.56–$177.48, and analysts hold a consensus rating of "Moderate Buy" with an average price target of $184.63.
Regal Rexnord Corporation (NYSE:RRX - Get Free Report) CEO Louis Pinkham sold 35,935 shares of the company's stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $146.20, for a total value of $5,253,697.00. Following the completion of the transaction, the chief executive officer owned 103,262 shares of the company's stock, valued at $15,096,904.40. This trade represents a 25.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Regal Rexnord Trading Down 0.9%
NYSE RRX opened at $145.84 on Thursday. The business's fifty day moving average is $141.43 and its 200-day moving average is $143.77. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.00 and a quick ratio of 0.93. The stock has a market capitalization of $9.68 billion, a price-to-earnings ratio of 37.69, a PEG ratio of 1.52 and a beta of 1.19. Regal Rexnord Corporation has a one year low of $90.56 and a one year high of $177.48.
Regal Rexnord (NYSE:RRX - Get Free Report) last posted its quarterly earnings data on Friday, September 8th. The company reported $2.76 earnings per share (EPS) for the quarter. The business had revenue of $1.85 billion during the quarter. Regal Rexnord had a net margin of 4.38% and a return on equity of 9.75%. Equities research analysts predict that Regal Rexnord Corporation will post 9.95 EPS for the current year.
Regal Rexnord Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 14th. Investors of record on Wednesday, December 31st will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, December 31st. Regal Rexnord's payout ratio is 36.18%.
Hedge Funds Weigh In On Regal Rexnord
Hedge funds have recently bought and sold shares of the company. Geneos Wealth Management Inc. lifted its stake in Regal Rexnord by 135.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 221 shares of the company's stock worth $25,000 after purchasing an additional 127 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in shares of Regal Rexnord in the third quarter worth $27,000. Allworth Financial LP boosted its stake in Regal Rexnord by 85.7% during the second quarter. Allworth Financial LP now owns 195 shares of the company's stock valued at $28,000 after buying an additional 90 shares during the period. Root Financial Partners LLC purchased a new position in Regal Rexnord during the third quarter worth about $28,000. Finally, SJS Investment Consulting Inc. increased its stake in Regal Rexnord by 95.1% in the 3rd quarter. SJS Investment Consulting Inc. now owns 199 shares of the company's stock worth $29,000 after acquiring an additional 97 shares during the last quarter. Hedge funds and other institutional investors own 99.72% of the company's stock.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on the company. The Goldman Sachs Group dropped their price objective on Regal Rexnord from $192.00 to $170.00 and set a "buy" rating on the stock in a research note on Tuesday, September 16th. JPMorgan Chase & Co. dropped their price target on Regal Rexnord from $200.00 to $190.00 and set an "overweight" rating on the stock in a research report on Friday, October 31st. KeyCorp cut their price target on Regal Rexnord from $180.00 to $170.00 and set an "overweight" rating for the company in a research note on Tuesday, October 14th. Zacks Research cut Regal Rexnord from a "hold" rating to a "strong sell" rating in a research note on Tuesday, November 4th. Finally, Robert W. Baird set a $212.00 target price on shares of Regal Rexnord in a research report on Friday, October 31st. Eight research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $184.63.
Check Out Our Latest Analysis on RRX
Regal Rexnord Company Profile
(
Get Free Report)
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.
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