National Bank of Canada FI Decreases Position in Regal Rexnord Co. (NYSE:RRX)

National Bank of Canada FI trimmed its holdings in Regal Rexnord Co. (NYSE:RRX - Free Report) by 88.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,252 shares of the company's stock after selling 9,954 shares during the quarter. National Bank of Canada FI's holdings in Regal Rexnord were worth $208,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. boosted its stake in shares of Regal Rexnord by 29.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 12,311 shares of the company's stock worth $2,042,000 after acquiring an additional 2,783 shares in the last quarter. Natixis Advisors LLC boosted its stake in shares of Regal Rexnord by 15.3% during the 3rd quarter. Natixis Advisors LLC now owns 86,933 shares of the company's stock worth $14,420,000 after acquiring an additional 11,568 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of 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 acquiring an additional 4,752 shares in the last quarter. Harbor Capital Advisors Inc. boosted its stake 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 acquiring an additional 14,280 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of Regal Rexnord by 31.4% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 19,686 shares of the company's stock worth $2,662,000 after acquiring an additional 4,701 shares in the last quarter. 99.72% of the stock is owned by hedge funds and other institutional investors.

Regal Rexnord Price Performance

RRX stock traded down $3.29 during mid-day trading on Tuesday, reaching $162.61. The company's stock had a trading volume of 422,984 shares, compared to its average volume of 452,578. The stock has a market cap of $10.77 billion, a PE ratio of 51.68, a P/E/G ratio of 1.83 and a beta of 1.03. The company has a current ratio of 2.45, a quick ratio of 1.35 and a debt-to-equity ratio of 0.87. Regal Rexnord Co. has a fifty-two week low of $130.94 and a fifty-two week high of $185.28. The company's 50 day moving average is $171.72 and its two-hundred day moving average is $158.95.

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

Regal Rexnord Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.86%. Regal Rexnord's dividend payout ratio is currently 44.16%.

Analyst Ratings Changes

Several research firms have recently issued reports on RRX. Barclays increased their target price on shares of Regal Rexnord from $190.00 to $205.00 and gave the stock an "overweight" rating in a research note on Thursday, December 5th. Jefferies Financial Group started coverage on shares of Regal Rexnord in a research note on Thursday, December 12th. They issued a "buy" rating and a $215.00 price target on the stock. 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 raised their price target on shares of Regal Rexnord from $191.00 to $213.00 and gave the company a "buy" rating in a research note on Thursday, December 12th. Finally, Citigroup started coverage on shares of Regal Rexnord in a research note on Monday, October 14th. They issued a "buy" rating and a $200.00 price target on the stock. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, Regal Rexnord has a consensus rating of "Moderate Buy" and an average target price of $205.13.

Insider Transactions at Regal Rexnord

In other news, CEO Louis V. Pinkham sold 8,774 shares of the firm's stock in a transaction that occurred on 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 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.82% of the company's stock.

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.