4,150 Shares in Regal Rexnord Co. (NYSE:RRX) Bought by Maven Securities LTD

Maven Securities LTD acquired a new stake in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 4,150 shares of the company's stock, valued at approximately $688,000.

Other large investors have also modified their holdings of the company. PNC Financial Services Group Inc. grew its position in Regal Rexnord by 29.2% during the third quarter. PNC Financial Services Group Inc. now owns 12,311 shares of the company's stock valued at $2,042,000 after acquiring an additional 2,783 shares during the period. Natixis Advisors LLC lifted 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 purchasing an additional 11,568 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of Regal Rexnord by 164.6% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 22,958 shares of the company's stock worth $3,808,000 after purchasing an additional 14,280 shares during the period. Charles Schwab Investment Management Inc. increased its position in Regal Rexnord by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 431,774 shares of the company's stock worth $71,623,000 after purchasing an additional 4,752 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in Regal Rexnord by 31.4% in the second 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. 99.72% of the stock is currently owned by hedge funds and other institutional investors.

Regal Rexnord Stock Down 2.3 %

Shares of RRX stock traded down $4.00 during mid-day trading on Thursday, reaching $168.92. 464,305 shares of the company were exchanged, compared to its average volume of 454,729. The company has a market capitalization of $11.19 billion, a P/E ratio of 53.29, a P/E/G ratio of 1.89 and a beta of 1.03. The business's 50 day simple moving average is $171.26 and its 200 day simple moving average is $157.97. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.35 and a current ratio of 2.45. Regal Rexnord Co. has a fifty-two week low of $122.49 and a fifty-two week high of $185.28.

Regal Rexnord (NYSE:RRX - Get Free Report) last released 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. Regal Rexnord had a net margin of 3.41% and a return on equity of 9.48%. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the previous year, the firm earned $2.10 EPS. The company's revenue was down 10.4% on a year-over-year basis. Research analysts predict that Regal Rexnord Co. will post 9.25 earnings per share for the current year.

Regal Rexnord Announces Dividend

The company 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. This represents a $1.40 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date of this dividend is Tuesday, December 31st. Regal Rexnord's dividend payout ratio is presently 44.16%.

Insider Transactions at Regal Rexnord

In related news, CEO Louis V. Pinkham sold 8,774 shares of the business's stock in a transaction dated Thursday, November 7th. The shares were 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 owns 149,618 shares of the company's stock, valued at $26,935,728.54. This represents a 5.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.82% of the company's stock.

Wall Street Analysts Forecast Growth

RRX has been the subject of several recent research reports. Barclays increased their price objective on shares of Regal Rexnord from $190.00 to $205.00 and gave the stock an "overweight" rating in a research report on Thursday. Citigroup assumed coverage on Regal Rexnord in a report on Monday, October 14th. They issued a "buy" rating and a $200.00 price target for the company. Loop Capital restated a "buy" rating and set a $200.00 price objective on shares of Regal Rexnord in a research note on Thursday, September 19th. StockNews.com upgraded Regal Rexnord from a "hold" rating to a "buy" rating in a research note on Wednesday, October 16th. Finally, Robert W. Baird decreased their price target on Regal Rexnord from $223.00 to $208.00 and set an "outperform" rating for the company in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $194.88.

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.