Short Interest in Regal Rexnord Corporation (NYSE:RRX) Decreases By 18.8%

Regal Rexnord Corporation (NYSE:RRX) was the recipient of a large drop in short interest in the month of January. As of January 15th, there was short interest totaling 2,807,447 shares, a drop of 18.8% from the December 31st total of 3,456,865 shares. Based on an average trading volume of 720,438 shares, the short-interest ratio is currently 3.9 days. Approximately 4.3% of the shares of the stock are sold short. Approximately 4.3% of the shares of the stock are sold short. Based on an average trading volume of 720,438 shares, the short-interest ratio is currently 3.9 days.

Insiders Place Their Bets

In other news, CEO Louis V. Pinkham sold 35,935 shares of the company’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $146.20, for a total transaction of $5,253,697.00. Following the completion of the sale, the chief executive officer directly owned 103,262 shares in the company, valued at approximately $15,096,904.40. This represents a 25.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.82% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Regal Rexnord

Several institutional investors and hedge funds have recently made changes to their positions in the business. Aster Capital Management DIFC Ltd acquired a new position in Regal Rexnord in the third quarter valued at approximately $27,000. Allworth Financial LP raised its stake in Regal Rexnord by 85.7% during the 2nd quarter. Allworth Financial LP now owns 195 shares of the company’s stock worth $28,000 after buying an additional 90 shares during the period. Root Financial Partners LLC acquired a new stake in Regal Rexnord in the third quarter valued at approximately $28,000. SJS Investment Consulting Inc. lifted its holdings in shares of Regal Rexnord by 95.1% in the 3rd quarter. SJS Investment Consulting Inc. now owns 199 shares of the company’s stock worth $29,000 after purchasing an additional 97 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its position in Regal Rexnord by 135.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock valued at $25,000 after purchasing an additional 127 shares during the period. Institutional investors own 99.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on RRX shares. JPMorgan Chase & Co. dropped their target price on shares of Regal Rexnord from $200.00 to $190.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. Barclays reiterated an “overweight” rating and issued a $165.00 target price on shares of Regal Rexnord in a research report on Monday, November 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Regal Rexnord in a research report on Thursday, January 22nd. Jefferies Financial Group downgraded shares of Regal Rexnord from a “buy” rating to a “hold” rating and lowered their price target for the stock from $170.00 to $160.00 in a report on Wednesday, December 10th. Finally, Citigroup upped their price objective on Regal Rexnord from $175.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $180.25.

Regal Rexnord Trading Up 5.2%

Shares of RRX stock traded up $8.40 on Monday, hitting $169.90. The company had a trading volume of 1,582,567 shares, compared to its average volume of 658,939. Regal Rexnord has a twelve month low of $90.56 and a twelve month high of $170.78. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.97 and a current ratio of 2.05. The firm has a market cap of $11.28 billion, a P/E ratio of 43.90, a P/E/G ratio of 1.50 and a beta of 1.13. The stock’s 50-day moving average is $149.72 and its two-hundred day moving average is $146.21.

Regal Rexnord Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 31st will be issued a dividend of $0.35 per share. The ex-dividend date is Tuesday, March 31st. This represents a $1.40 annualized dividend and a yield of 0.8%. Regal Rexnord’s dividend payout ratio (DPR) is presently 36.18%.

Regal Rexnord Company Profile

Regal Rexnord Corporation (NYSE: RRX) is a global industrial manufacturer specializing in electric motors, power generation equipment and automated motion control systems. The company designs, engineers and produces a broad portfolio of products that includes energy-efficient electric motors, variable frequency drives, gearboxes, couplings, bearings and power transmission components. These offerings support critical applications in industries such as heating, ventilation and air conditioning (HVAC), refrigeration, data centers, water treatment, food and beverage processing, mining, oil and gas, and material handling.

The company’s operations are organized into multiple business segments that address distinct customer needs.