Segall Bryant & Hamill LLC Decreases Holdings in Regal Rexnord Co. (NYSE:RRX)

Segall Bryant & Hamill LLC decreased its stake in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) by 13.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 284,850 shares of the company's stock after selling 44,983 shares during the quarter. Regal Rexnord accounts for about 0.6% of Segall Bryant & Hamill LLC's investment portfolio, making the stock its 27th biggest position. Segall Bryant & Hamill LLC owned about 0.43% of Regal Rexnord worth $47,251,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Headlands Technologies LLC acquired a new stake in shares of Regal Rexnord during the 2nd quarter valued at about $46,000. 1620 Investment Advisors Inc. acquired a new position in shares of Regal Rexnord during the second quarter worth approximately $52,000. UMB Bank n.a. raised its stake in shares of Regal Rexnord by 72.5% during the third quarter. UMB Bank n.a. now owns 345 shares of the company's stock worth $57,000 after buying an additional 145 shares during the last quarter. EntryPoint Capital LLC bought a new stake in shares of Regal Rexnord during the first quarter worth approximately $68,000. Finally, GAMMA Investing LLC increased its stake in Regal Rexnord by 13.9% in the second quarter. GAMMA Investing LLC now owns 647 shares of the company's stock valued at $87,000 after purchasing an additional 79 shares in the last quarter. Institutional investors own 99.72% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on RRX shares. Citigroup started coverage on shares of Regal Rexnord in a report on Monday, October 14th. They issued a "buy" rating and a $200.00 price target for the company. Barclays lifted their price objective on shares of Regal Rexnord from $180.00 to $190.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 2nd. Robert W. Baird dropped their target price on shares of Regal Rexnord from $223.00 to $208.00 and set an "outperform" rating for the company in a research report on Wednesday, November 6th. The Goldman Sachs Group boosted their target price 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. Finally, Loop Capital reaffirmed a "buy" rating and set a $200.00 price target on shares of Regal Rexnord in a report on Thursday, September 19th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Regal Rexnord currently has an average rating of "Moderate Buy" and a consensus target price of $193.00.

Regal Rexnord Stock Down 2.1 %

Shares of NYSE RRX traded down $3.63 during trading on Wednesday, hitting $168.39. The stock had a trading volume of 152,341 shares, compared to its average volume of 452,586. The company has a market capitalization of $11.15 billion, a PE ratio of 52.72, a PEG ratio of 1.83 and a beta of 1.04. The firm has a fifty day moving average of $168.70 and a two-hundred day moving average of $156.93. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.45 and a quick ratio of 1.35. Regal Rexnord Co. has a 12 month low of $113.79 and a 12 month high of $185.28.

Regal Rexnord (NYSE:RRX - Get Free Report) last issued its earnings results on Monday, November 4th. The company reported $2.49 earnings per share for the quarter, topping analysts' consensus estimates of $2.48 by $0.01. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.53 billion. Regal Rexnord had a net margin of 3.41% and a return on equity of 9.48%. The company's quarterly revenue was down 10.4% on a year-over-year basis. During the same quarter last year, the business earned $2.10 earnings per share. As a group, equities research analysts forecast that Regal Rexnord Co. will post 9.25 EPS for the current fiscal 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 $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend is Tuesday, December 31st. Regal Rexnord's payout ratio is 44.16%.

Insider Transactions at Regal Rexnord

In related 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 value 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 trade represents a 5.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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.