Moody National Bank Trust Division Sells 7,202 Shares of Regal Rexnord Co. (NYSE:RRX)

Moody National Bank Trust Division cut its stake in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) by 52.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,480 shares of the company's stock after selling 7,202 shares during the period. Moody National Bank Trust Division's holdings in Regal Rexnord were worth $1,005,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of RRX. JPMorgan Chase & Co. raised its position in shares of Regal Rexnord by 6.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 436,307 shares of the company's stock worth $72,375,000 after acquiring an additional 28,278 shares in the last quarter. Geode Capital Management LLC grew its stake in Regal Rexnord by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,104,090 shares of the company's stock valued at $183,195,000 after purchasing an additional 9,338 shares during the period. PNC Financial Services Group Inc. boosted its stake in Regal Rexnord by 29.2% in 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 last quarter. Franklin Resources Inc. raised its stake in shares of Regal Rexnord by 7.2% in the third quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company's stock valued at $204,254,000 after buying an additional 77,215 shares during the period. Finally, First Hawaiian Bank bought a new stake in Regal Rexnord during the 4th quarter valued at $811,000. Institutional investors own 99.72% of the company's stock.

Insider Transactions at Regal Rexnord

In related news, CEO Louis V. Pinkham sold 8,774 shares of Regal Rexnord 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 transaction, the chief executive officer now directly owns 149,618 shares of the company's stock, valued at $26,935,728.54. This trade represents a 5.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.82% of the company's stock.

Regal Rexnord Stock Performance

NYSE RRX traded up $1.97 during trading hours on Tuesday, hitting $153.77. 136,978 shares of the stock were exchanged, compared to its average volume of 461,229. Regal Rexnord Co. has a 12-month low of $130.94 and a 12-month high of $185.28. The company has a quick ratio of 1.35, a current ratio of 2.45 and a debt-to-equity ratio of 0.87. The stock has a 50-day moving average of $165.94 and a 200 day moving average of $161.00. The company has a market cap of $10.18 billion, a price-to-earnings ratio of 48.51, a price-to-earnings-growth ratio of 1.83 and a beta of 1.04.

Regal Rexnord (NYSE:RRX - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The company reported $2.49 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.01. Regal Rexnord had a return on equity of 9.48% and a net margin of 3.41%. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the previous year, the firm posted $2.10 EPS. Regal Rexnord's revenue was down 10.4% on a year-over-year basis. As a group, equities research analysts forecast that Regal Rexnord Co. will post 9.24 earnings per share for the current year.

Regal Rexnord Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.35 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.91%. Regal Rexnord's dividend payout ratio is presently 44.16%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Robert W. Baird decreased their price target on shares of Regal Rexnord from $223.00 to $208.00 and set an "outperform" rating on the stock in a research note on Wednesday, November 6th. Loop Capital reissued a "buy" rating and issued a $200.00 target price on shares of Regal Rexnord in a research report on Thursday, September 19th. StockNews.com upgraded shares of Regal Rexnord from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, January 8th. Citigroup started coverage on Regal Rexnord in a research report on Monday, October 14th. They issued a "buy" rating and a $200.00 target price on the stock. Finally, Barclays reduced their target price on shares of Regal Rexnord from $205.00 to $190.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $203.25.

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.