Captrust Financial Advisors Sells 1,017 Shares of Regal Rexnord Co. (NYSE:RRX)

Captrust Financial Advisors lowered its position in shares of Regal Rexnord Co. (NYSE:RRX) by 17.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,843 shares of the company’s stock after selling 1,017 shares during the quarter. Captrust Financial Advisors’ holdings in Regal Rexnord were worth $751,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Skandinaviska Enskilda Banken AB publ lifted its position in shares of Regal Rexnord by 472.4% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company’s stock worth $25,000 after buying an additional 137 shares in the last quarter. Bernard Wealth Management Corp. bought a new position in shares of Regal Rexnord during the 4th quarter worth approximately $30,000. Aster Capital Management DIFC Ltd bought a new position in shares of Regal Rexnord during the 4th quarter worth approximately $33,000. Tobam bought a new position in shares of Regal Rexnord during the 4th quarter worth approximately $45,000. Finally, Jones Financial Companies Lllp lifted its position in shares of Regal Rexnord by 90.5% during the 4th quarter. Jones Financial Companies Lllp now owns 322 shares of the company’s stock worth $50,000 after buying an additional 153 shares in the last quarter. Institutional investors own 99.72% of the company’s stock.

Insider Activity at Regal Rexnord

In related news, CEO Louis V. Pinkham sold 10,593 shares of Regal Rexnord stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $140.33, for a total value of $1,486,515.69. Following the completion of the transaction, the chief executive officer now directly owns 175,954 shares in the company, valued at approximately $24,691,624.82. The trade was a 5.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.82% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

RRX has been the topic of several recent analyst reports. The Goldman Sachs Group dropped their target price on shares of Regal Rexnord from $183.00 to $163.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. StockNews.com lowered shares of Regal Rexnord from a “buy” rating to a “hold” rating in a research note on Wednesday, April 16th. Barclays raised their price target on shares of Regal Rexnord from $155.00 to $160.00 and gave the stock an “overweight” rating in a research note on Monday, May 12th. Oppenheimer decreased their price target on shares of Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Finally, KeyCorp decreased their price target on shares of Regal Rexnord from $180.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $171.25.

Regal Rexnord Stock Up 1.3%

Regal Rexnord stock opened at $141.52 on Friday. Regal Rexnord Co. has a 1-year low of $90.56 and a 1-year high of $185.28. The firm has a market capitalization of $9.39 billion, a price-to-earnings ratio of 47.97, a P/E/G ratio of 1.37 and a beta of 1.11. The company has a current ratio of 2.26, a quick ratio of 1.25 and a debt-to-equity ratio of 0.87. The firm has a 50 day simple moving average of $114.03 and a 200 day simple moving average of $141.65.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings data on Monday, May 5th. The company reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.33. Regal Rexnord had a net margin of 3.25% and a return on equity of 9.57%. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same period in the previous year, the business earned $2.00 EPS. Regal Rexnord’s revenue was down 8.4% compared to the same quarter last year. On average, analysts predict that Regal Rexnord Co. will post 9.95 earnings per share for the current year.

Regal Rexnord Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 14th. Investors of record on Monday, June 30th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.40 dividend on an annualized basis and a yield of 0.99%. Regal Rexnord’s dividend payout ratio is 39.89%.

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.