Regal Rexnord Co. (NYSE:RRX) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its stake in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) by 3.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,813,235 shares of the company's stock after selling 71,340 shares during the period. Victory Capital Management Inc. owned 2.73% of Regal Rexnord worth $300,779,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Capital World Investors grew its stake in shares of Regal Rexnord by 4.7% during the first quarter. Capital World Investors now owns 6,599,752 shares of the company's stock valued at $1,188,615,000 after buying an additional 296,941 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in Regal Rexnord by 7.1% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 3,181,886 shares of the company's stock valued at $430,255,000 after buying an additional 209,776 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Regal Rexnord by 0.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,422,350 shares of the company's stock worth $192,338,000 after acquiring an additional 8,159 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Regal Rexnord by 24.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,125,445 shares of the company's stock valued at $152,183,000 after acquiring an additional 222,775 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of Regal Rexnord by 31.5% in the 2nd quarter. Principal Financial Group Inc. now owns 714,179 shares of the company's stock valued at $96,571,000 after acquiring an additional 171,069 shares during the period. 99.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. StockNews.com upgraded Regal Rexnord from a "hold" rating to a "buy" rating in a research note on Wednesday, October 16th. 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. Barclays boosted their price target on Regal Rexnord from $180.00 to $190.00 and gave the company an "overweight" rating in a research note on Wednesday, October 2nd. The Goldman Sachs Group raised their price objective on Regal Rexnord from $176.00 to $195.00 and gave the stock a "buy" rating in a research note on Friday, August 2nd. Finally, Citigroup initiated coverage on Regal Rexnord in a research report on Monday, October 14th. They issued a "buy" rating and a $200.00 target price on the stock. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $193.00.

Regal Rexnord Price Performance

Shares of RRX stock traded down $5.72 during trading hours on Tuesday, hitting $170.58. 406,142 shares of the company's stock were exchanged, compared to its average volume of 453,108. Regal Rexnord Co. has a fifty-two week low of $108.64 and a fifty-two week high of $185.28. The firm has a market cap of $11.30 billion, a P/E ratio of 53.81, a P/E/G ratio of 1.90 and a beta of 1.04. The company has a quick ratio of 1.38, a current ratio of 2.45 and a debt-to-equity ratio of 0.87. The firm has a 50 day moving average of $166.46 and a two-hundred day moving average of $156.63.

Regal Rexnord (NYSE:RRX - Get Free Report) last issued its quarterly earnings results 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 net margin of 3.41% and a return on equity of 9.48%. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period last year, the company posted $2.10 EPS. 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 9.2 EPS for the current year.

Regal Rexnord Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend is Tuesday, December 31st. Regal Rexnord's dividend payout ratio is currently 44.16%.

Insider Buying and Selling at Regal Rexnord

In other news, CEO Louis V. Pinkham sold 8,774 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 149,618 shares in the company, valued at $26,935,728.54. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.82% of the stock is currently owned by insiders.

Regal Rexnord Company 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.