Intech Investment Management LLC Trims Stock Position in Regal Rexnord Co. (NYSE:RRX)

Intech Investment Management LLC reduced its holdings in Regal Rexnord Co. (NYSE:RRX - Free Report) by 31.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. 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 filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. O Shaughnessy Asset Management LLC raised its stake in Regal Rexnord by 8.1% during the first quarter. O Shaughnessy Asset Management LLC now owns 3,441 shares of the company's stock worth $620,000 after purchasing an additional 258 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Regal Rexnord by 5.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 38,969 shares of the company's stock worth $7,019,000 after purchasing an additional 2,101 shares during the period. Bayesian Capital Management LP purchased a new position in Regal Rexnord during the first quarter worth about $828,000. Dynasty Wealth Management LLC purchased a new position in Regal Rexnord during the first quarter worth about $700,000. Finally, Tidal Investments LLC raised its stake in Regal Rexnord by 20.2% during the first quarter. Tidal Investments LLC now owns 1,876 shares of the company's stock worth $338,000 after purchasing an additional 315 shares during the period. 99.72% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Louis V. Pinkham sold 8,774 shares of Regal Rexnord stock in a transaction that occurred on 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 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 Securities & Exchange Commission, which is available through this hyperlink. 0.82% of the stock is owned by insiders.

Regal Rexnord Stock Down 5.7 %

Shares of RRX stock traded down $10.33 during trading on Tuesday, reaching $171.89. The company's stock had a trading volume of 687,509 shares, compared to its average volume of 456,178. 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 company has a market capitalization of $11.38 billion, a price-to-earnings ratio of 57.48, a P/E/G ratio of 1.92 and a beta of 1.04. The stock's 50-day moving average price is $170.63 and its 200 day moving average price is $157.36. Regal Rexnord Co. has a 1-year low of $113.79 and a 1-year high of $185.28.

Regal Rexnord (NYSE:RRX - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The company reported $2.49 earnings per share for the quarter, beating analysts' consensus estimates of $2.48 by $0.01. The firm had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.53 billion. Regal Rexnord had a net margin of 3.41% and a return on equity of 9.48%. The business's quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.10 earnings per share. On average, research analysts anticipate that Regal Rexnord Co. will post 9.25 EPS for the current year.

Regal Rexnord Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st will be paid a $0.35 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.40 dividend on an annualized basis and a yield of 0.81%. Regal Rexnord's dividend payout ratio is currently 44.16%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on RRX. StockNews.com raised shares of Regal Rexnord from a "hold" rating to a "buy" rating in a research note on Wednesday, October 16th. The Goldman Sachs Group lifted their price target on shares of Regal Rexnord from $176.00 to $195.00 and gave the company a "buy" rating in a research report on Friday, August 2nd. Citigroup initiated coverage on shares of Regal Rexnord in a research report on Monday, October 14th. They set a "buy" rating and a $200.00 price target for the company. Barclays lifted their price target on shares of Regal Rexnord from $180.00 to $190.00 and gave the company an "overweight" rating in a research report on Wednesday, October 2nd. Finally, Loop Capital reiterated a "buy" rating and set a $200.00 price target on shares of Regal Rexnord in a research report on Thursday, September 19th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $193.00.

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.