Regal Rexnord Co. (NYSE:RRX) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its position in Regal Rexnord Co. (NYSE:RRX - Free Report) by 1.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 431,774 shares of the company's stock after acquiring an additional 4,752 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.65% of Regal Rexnord worth $71,623,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in RRX. Headlands Technologies LLC acquired a new stake in Regal Rexnord in the 2nd quarter worth approximately $46,000. 1620 Investment Advisors Inc. acquired a new position in shares of Regal Rexnord in the 2nd quarter valued at $52,000. UMB Bank n.a. raised its stake in Regal Rexnord by 72.5% in the 3rd quarter. UMB Bank n.a. now owns 345 shares of the company's stock worth $57,000 after acquiring an additional 145 shares during the last quarter. GAMMA Investing LLC lifted its position in Regal Rexnord by 13.9% during the 2nd quarter. GAMMA Investing LLC now owns 647 shares of the company's stock worth $87,000 after acquiring an additional 79 shares during the period. Finally, CWM LLC grew its stake in Regal Rexnord by 25.4% during the 2nd quarter. CWM LLC now owns 825 shares of the company's stock valued at $112,000 after purchasing an additional 167 shares during the last quarter. 99.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Transactions at Regal Rexnord

In related 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 approximately $26,935,728.54. The trade was a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.82% of the company's stock.

Regal Rexnord Price Performance

Shares of RRX stock traded up $3.15 during trading hours on Friday, hitting $172.81. 273,458 shares of the company's stock were exchanged, compared to its average volume of 455,379. The firm has a 50 day moving average of $170.77 and a two-hundred day moving average of $157.60. Regal Rexnord Co. has a fifty-two week low of $117.32 and a fifty-two week high of $185.28. The firm has a market cap of $11.45 billion, a P/E ratio of 53.52, a P/E/G ratio of 1.83 and a beta of 1.04. The company has a quick ratio of 1.35, a current ratio of 2.45 and a debt-to-equity ratio of 0.87.

Regal Rexnord (NYSE:RRX - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The company reported $2.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.48 by $0.01. The business had revenue of $1.48 billion for 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%. The company's revenue was down 10.4% compared to the same quarter last year. During the same period last year, the firm posted $2.10 earnings per share. Sell-side analysts forecast that Regal Rexnord Co. will post 9.25 EPS for the current year.

Regal Rexnord Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st will be given a $0.35 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.40 annualized dividend and a dividend yield of 0.81%. Regal Rexnord's dividend payout ratio (DPR) is presently 44.16%.

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.