Fmr LLC Has $998.71 Million Position in Regal Rexnord Co. (NYSE:RRX)

FMR LLC trimmed its position in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) by 6.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,020,659 shares of the company's stock after selling 383,307 shares during the period. FMR LLC owned approximately 9.09% of Regal Rexnord worth $998,707,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Headlands Technologies LLC acquired a new stake in Regal Rexnord in the 2nd quarter valued at $46,000. 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 valued at $57,000 after acquiring an additional 145 shares during the period. 1620 Investment Advisors Inc. bought a new stake in Regal Rexnord in the 2nd quarter valued at about $52,000. GAMMA Investing LLC grew its holdings in Regal Rexnord by 13.9% during the 2nd quarter. GAMMA Investing LLC now owns 647 shares of the company's stock valued at $87,000 after buying an additional 79 shares in the last quarter. Finally, CWM LLC increased 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 worth $112,000 after purchasing an additional 167 shares during the last quarter. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Regal Rexnord Trading Down 1.3 %

Shares of Regal Rexnord stock traded down $2.31 during trading hours on Thursday, reaching $169.66. 452,258 shares of the company's stock were exchanged, compared to its average volume of 456,170. The company has a fifty day moving average of $170.87 and a 200-day moving average of $157.52. 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 52-week low of $114.18 and a 52-week high of $185.28. The firm has a market capitalization of $11.24 billion, a price-to-earnings ratio of 53.52, a price-to-earnings-growth ratio of 1.97 and a beta of 1.04.

Regal Rexnord (NYSE:RRX - Get Free Report) last issued its earnings results on Monday, November 4th. The company reported $2.49 EPS for the quarter, beating analysts' consensus estimates 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 earnings per share. Regal Rexnord's quarterly revenue was down 10.4% compared to the same quarter last year. Sell-side analysts forecast that Regal Rexnord Co. will post 9.25 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date of this dividend is Tuesday, December 31st. Regal Rexnord's dividend payout ratio is presently 44.16%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. The Goldman Sachs Group increased 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. Robert W. Baird lowered their price objective 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. StockNews.com upgraded Regal Rexnord from a "hold" rating to a "buy" rating in a report on Wednesday, October 16th. Loop Capital reiterated a "buy" rating and issued a $200.00 price objective on shares of Regal Rexnord in a report on Thursday, September 19th. Finally, Barclays lifted their price objective on Regal Rexnord from $180.00 to $190.00 and gave the company an "overweight" rating in a research report on Wednesday, October 2nd. 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 MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $193.00.

Insider Activity

In other news, CEO Louis V. Pinkham sold 8,774 shares of the 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 sale, the chief executive officer now directly owns 149,618 shares of the company's stock, valued at $26,935,728.54. This represents a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.82% of the stock is owned by company insiders.

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.