Regal Rexnord Co. (NYSE:RRX) Shares Sold by Artemis Investment Management LLP

Artemis Investment Management LLP cut its holdings in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) by 31.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 92,048 shares of the company's stock after selling 42,135 shares during the quarter. Artemis Investment Management LLP owned about 0.14% of Regal Rexnord worth $14,279,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Point72 Asset Management L.P. acquired a new position in shares of Regal Rexnord during the 3rd quarter worth approximately $83,460,000. Westfield Capital Management Co. LP grew its holdings in Regal Rexnord by 68.9% in the 3rd quarter. Westfield Capital Management Co. LP now owns 979,521 shares of the company's stock valued at $162,483,000 after buying an additional 399,649 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Regal Rexnord by 24.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,125,445 shares of the company's stock worth $152,183,000 after acquiring an additional 222,775 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Regal Rexnord by 1,108.9% during the 2nd quarter. Millennium Management LLC now owns 96,819 shares of the company's stock worth $13,092,000 after acquiring an additional 88,810 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Regal Rexnord by 6.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,289,917 shares of the company's stock valued at $213,971,000 after acquiring an additional 83,823 shares during the last quarter. Hedge funds and other institutional investors own 99.72% of the company's stock.

Regal Rexnord Stock Performance

Shares of RRX traded down $2.05 during midday trading on Monday, reaching $156.41. 460,629 shares of the stock were exchanged, compared to its average volume of 397,261. The company has a market capitalization of $10.36 billion, a price-to-earnings ratio of 49.34, a PEG ratio of 1.44 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 twelve month low of $130.94 and a twelve month high of $185.28. The business's 50-day moving average price is $164.43 and its 200 day moving average price is $161.64.

Regal Rexnord (NYSE:RRX - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The company reported $2.49 EPS for the quarter, topping the consensus estimate of $2.48 by $0.01. The company 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 firm's revenue was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.10 earnings per share. On average, sell-side analysts expect that Regal Rexnord Co. will post 9.24 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend was Tuesday, December 31st. Regal Rexnord's dividend payout ratio is currently 44.16%.

Insider Activity at Regal Rexnord

In other 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 transaction, the chief executive officer now directly owns 149,618 shares in the company, valued at $26,935,728.54. The trade was a 5.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.82% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Jefferies Financial Group assumed coverage on Regal Rexnord in a research note on Thursday, December 12th. They set a "buy" rating and a $215.00 target price for the company. StockNews.com lowered shares of Regal Rexnord from a "strong-buy" rating to a "buy" rating in a report on Thursday. The Goldman Sachs Group lifted their price objective on Regal Rexnord from $191.00 to $213.00 and gave the company a "buy" rating in a research note on Thursday, December 12th. Robert W. Baird reduced their target price on shares of Regal Rexnord from $223.00 to $208.00 and set an "outperform" rating on the stock in a report on Wednesday, November 6th. Finally, Barclays dropped their price objective on shares of Regal Rexnord from $205.00 to $190.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, Regal Rexnord presently has an average rating of "Moderate Buy" and a consensus target price of $202.00.

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.