Regal Rexnord Co. (NYSE:RRX) Short Interest Down 19.0% in January

Regal Rexnord Co. (NYSE:RRX - Get Free Report) was the target of a significant decrease in short interest in January. As of January 15th, there was short interest totalling 1,190,000 shares, a decrease of 19.0% from the December 31st total of 1,470,000 shares. Currently, 1.8% of the company's stock are sold short. Based on an average daily trading volume, of 466,100 shares, the days-to-cover ratio is presently 2.6 days.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on RRX shares. Citigroup lowered their price target on shares of Regal Rexnord from $210.00 to $190.00 and set a "buy" rating on the stock in a report on Tuesday, January 14th. The Goldman Sachs Group boosted their target price on Regal Rexnord from $191.00 to $213.00 and gave the company a "buy" rating in a research note on Thursday, December 12th. Jefferies Financial Group started coverage on Regal Rexnord in a research note on Thursday, December 12th. They set a "buy" rating and a $215.00 price target for the company. StockNews.com lowered shares of Regal Rexnord from a "strong-buy" rating to a "buy" rating in a research report on Thursday, January 16th. Finally, Barclays lowered their price target on shares of Regal Rexnord from $205.00 to $190.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $202.00.

Insider Buying and Selling

In other Regal Rexnord news, CEO Louis V. Pinkham sold 8,774 shares of the business's stock in a transaction on Thursday, November 7th. The stock was 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 of the company's stock, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. 0.82% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Regal Rexnord

Institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its holdings in shares of Regal Rexnord by 6.9% in the third quarter. JPMorgan Chase & Co. now owns 436,307 shares of the company's stock worth $72,375,000 after purchasing an additional 28,278 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Regal Rexnord by 0.9% in the third quarter. Geode Capital Management LLC now owns 1,104,090 shares of the company's stock valued at $183,195,000 after acquiring an additional 9,338 shares during the period. First Hawaiian Bank bought a new position in shares of Regal Rexnord during the fourth quarter valued at about $811,000. PNC Financial Services Group Inc. boosted its holdings in shares of Regal Rexnord by 29.2% during the third quarter. PNC Financial Services Group Inc. now owns 12,311 shares of the company's stock worth $2,042,000 after purchasing an additional 2,783 shares during the period. Finally, Franklin Resources Inc. grew its stake in shares of Regal Rexnord by 7.2% in the third quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company's stock worth $204,254,000 after purchasing an additional 77,215 shares during the last quarter. 99.72% of the stock is currently owned by institutional investors.

Regal Rexnord Price Performance

Shares of RRX stock traded down $0.15 on Wednesday, reaching $154.74. The company's stock had a trading volume of 706,291 shares, compared to its average volume of 499,689. The company has a market capitalization of $10.25 billion, a P/E ratio of 48.81, a PEG ratio of 1.53 and a beta of 1.03. The company has a quick ratio of 1.35, a current ratio of 2.45 and a debt-to-equity ratio of 0.87. The stock's 50 day simple moving average is $161.31 and its 200-day simple moving average is $163.10. Regal Rexnord has a 12-month low of $130.94 and a 12-month 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 (EPS) for the quarter, topping 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 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 EPS. The firm's revenue was down 10.4% compared to the same quarter last year. As a group, equities analysts predict that Regal Rexnord will post 9.24 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend is Monday, March 31st. Regal Rexnord's payout ratio is currently 44.16%.

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.