Principal Financial Group Inc. Has $116.52 Million Holdings in Regal Rexnord Co. (NYSE:RRX)

Principal Financial Group Inc. lessened its holdings in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) by 1.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 702,402 shares of the company's stock after selling 11,777 shares during the period. Principal Financial Group Inc. owned about 1.06% of Regal Rexnord worth $116,515,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. American Trust grew its holdings in shares of Regal Rexnord by 11.5% during the 3rd quarter. American Trust now owns 1,797 shares of the company's stock worth $298,000 after purchasing an additional 185 shares in the last quarter. Franklin Resources Inc. grew its stake in Regal Rexnord by 7.2% during the third quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company's stock worth $204,254,000 after buying an additional 77,215 shares in the last quarter. Tidal Investments LLC increased its holdings in Regal Rexnord by 4.8% in the 3rd quarter. Tidal Investments LLC now owns 7,605 shares of the company's stock valued at $1,262,000 after buying an additional 347 shares during the period. Coldstream Capital Management Inc. raised its position in shares of Regal Rexnord by 5.3% in the 3rd quarter. Coldstream Capital Management Inc. now owns 2,430 shares of the company's stock valued at $404,000 after buying an additional 123 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Regal Rexnord by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,104,090 shares of the company's stock worth $183,195,000 after acquiring an additional 9,338 shares during the period. Institutional investors and hedge funds own 99.72% of the company's stock.

Insider Buying and Selling at Regal Rexnord

In related news, CEO Louis V. Pinkham sold 8,774 shares of the business's stock in a transaction 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 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 transaction 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.

Regal Rexnord Trading Down 0.0 %

NYSE RRX traded down $0.06 on Friday, hitting $155.96. The company's stock had a trading volume of 1,004,531 shares, compared to its average volume of 456,736. The firm has a market cap of $10.33 billion, a PE ratio of 49.20, a PEG ratio of 1.83 and a beta of 1.03. The company's 50-day moving average is $170.99 and its 200 day moving average is $159.20. 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 Co. has a 1-year low of $130.94 and a 1-year high of $185.28.

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 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 business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the prior year, the business posted $2.10 earnings per share. Regal Rexnord's quarterly revenue was down 10.4% on a year-over-year basis. As a group, analysts predict that Regal Rexnord Co. will post 9.24 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The business also recently announced 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 annualized dividend and a yield of 0.90%. The ex-dividend date is Tuesday, December 31st. Regal Rexnord's payout ratio is presently 44.16%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on RRX shares. The Goldman Sachs Group lifted their price objective 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. Robert W. Baird decreased their price target on Regal Rexnord from $223.00 to $208.00 and set an "outperform" rating on the stock in a research note on Wednesday, November 6th. Barclays lifted their target price on Regal Rexnord from $190.00 to $205.00 and gave the company an "overweight" rating in a research report on Thursday, December 5th. Citigroup assumed coverage on shares of Regal Rexnord in a report on Monday, October 14th. They issued a "buy" rating and a $200.00 target price for the company. Finally, StockNews.com raised shares of Regal Rexnord from a "hold" rating to a "buy" rating in a research note on Wednesday, October 16th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $205.13.

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.