Geode Capital Management LLC Grows Stake in Regal Rexnord Co. (NYSE:RRX)

Geode Capital Management LLC lifted its stake in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) by 0.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,104,090 shares of the company's stock after purchasing an additional 9,338 shares during the period. Geode Capital Management LLC owned 1.67% of Regal Rexnord worth $183,195,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Headlands Technologies LLC bought a new position in shares of Regal Rexnord during the 2nd quarter worth $46,000. 1620 Investment Advisors Inc. purchased a new position in Regal Rexnord in the 2nd quarter valued at approximately $52,000. UMB Bank n.a. raised its holdings in Regal Rexnord by 72.5% during the 3rd quarter. UMB Bank n.a. now owns 345 shares of the company's stock valued at $57,000 after acquiring an additional 145 shares during the period. Nomura Asset Management Co. Ltd. boosted its stake in Regal Rexnord by 30.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company's stock worth $71,000 after purchasing an additional 100 shares during the period. Finally, CWM LLC boosted its position in shares of Regal Rexnord by 25.4% in the second quarter. CWM LLC now owns 825 shares of the company's stock valued at $112,000 after acquiring an additional 167 shares during the period. Hedge funds and other institutional investors own 99.72% of the company's stock.

Insider Buying and Selling

In related news, CEO Louis V. Pinkham sold 8,774 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 149,618 shares in the company, valued at $26,935,728.54. This trade represents a 5.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.82% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently commented on RRX shares. Robert W. Baird reduced their target price on Regal Rexnord from $223.00 to $208.00 and set an "outperform" rating for the company in a research report on Wednesday, November 6th. Loop Capital reiterated a "buy" rating and issued a $200.00 target price on shares of Regal Rexnord in a research report on Thursday, September 19th. Jefferies Financial Group started coverage on Regal Rexnord in a research report on Thursday. They set a "buy" rating and a $215.00 price target on the stock. Barclays upped their price objective on Regal Rexnord from $190.00 to $205.00 and gave the stock an "overweight" rating in a report on Thursday, December 5th. Finally, Citigroup began coverage on Regal Rexnord in a report on Monday, October 14th. They set a "buy" rating and a $200.00 price objective on the stock. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $205.13.

Regal Rexnord Trading Down 1.8 %

RRX traded down $2.98 during trading on Monday, hitting $165.90. 309,133 shares of the stock traded hands, compared to its average volume of 452,701. The firm has a market capitalization of $10.99 billion, a P/E ratio of 52.33, a price-to-earnings-growth ratio of 1.83 and a beta of 1.03. Regal Rexnord Co. has a 12-month low of $130.94 and a 12-month high of $185.28. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.45 and a quick ratio of 1.35. The firm has a 50-day moving average of $171.79 and a 200 day moving average of $158.82.

Regal Rexnord (NYSE:RRX - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The company reported $2.49 earnings per share for the quarter, topping analysts' consensus estimates 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 business's quarterly revenue was down 10.4% compared to the same quarter last year. During the same period last year, the company earned $2.10 EPS. Equities research analysts anticipate that Regal Rexnord Co. will post 9.24 EPS for the current year.

Regal Rexnord Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend is Tuesday, December 31st. Regal Rexnord's payout ratio is 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.