Dean Capital Management Sells 2,946 Shares of Regal Rexnord Corporation $RRX

Dean Capital Management trimmed its stake in shares of Regal Rexnord Corporation (NYSE:RRX) by 21.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,927 shares of the company’s stock after selling 2,946 shares during the period. Dean Capital Management’s holdings in Regal Rexnord were worth $2,046,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Covestor Ltd boosted its stake in Regal Rexnord by 81.6% in the 4th quarter. Covestor Ltd now owns 178 shares of the company’s stock worth $25,000 after purchasing an additional 80 shares during the period. Geneos Wealth Management Inc. raised its stake in shares of 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. Garner Asset Management Corp acquired a new stake in shares of Regal Rexnord in the 4th quarter valued at about $27,000. IFP Advisors Inc lifted its holdings in shares of Regal Rexnord by 34.0% in the fourth quarter. IFP Advisors Inc now owns 193 shares of the company’s stock valued at $27,000 after purchasing an additional 49 shares in the last quarter. Finally, Advisory Services Network LLC bought a new stake in shares of Regal Rexnord in the third quarter valued at about $35,000. 99.72% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Regal Rexnord news, CEO Louis V. Pinkham sold 22,509 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $211.68, for a total transaction of $4,764,705.12. Following the sale, the chief executive officer directly owned 56,749 shares of the company’s stock, valued at approximately $12,012,628.32. This represents a 28.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robin A. Walker-Lee sold 1,297 shares of the stock in a transaction on Monday, May 11th. The shares were sold at an average price of $213.85, for a total transaction of $277,363.45. Following the completion of the sale, the director owned 5,503 shares of the company’s stock, valued at approximately $1,176,816.55. This represents a 19.07% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 30,305 shares of company stock worth $6,341,869. Insiders own 0.63% of the company’s stock.

Regal Rexnord Stock Performance

Shares of NYSE RRX opened at $212.78 on Monday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.08 and a current ratio of 2.17. The stock has a 50 day moving average price of $212.34 and a 200 day moving average price of $200.06. The stock has a market capitalization of $14.16 billion, a PE ratio of 49.48, a price-to-earnings-growth ratio of 2.00 and a beta of 1.08. Regal Rexnord Corporation has a 52 week low of $127.96 and a 52 week high of $247.80.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings results on Thursday, May 7th. The company reported $2.17 earnings per share for the quarter, topping the consensus estimate of $2.11 by $0.06. Regal Rexnord had a return on equity of 9.49% and a net margin of 4.78%.The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the previous year, the firm earned $2.15 EPS. The business’s quarterly revenue was up 4.3% on a year-over-year basis. Analysts predict that Regal Rexnord Corporation will post 10.64 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 14th. Investors of record on Wednesday, September 30th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Wednesday, September 30th. Regal Rexnord’s payout ratio is presently 32.56%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on RRX shares. DA Davidson initiated coverage on Regal Rexnord in a report on Tuesday, June 16th. They set a “buy” rating and a $260.00 price objective for the company. JPMorgan Chase & Co. boosted their target price on Regal Rexnord from $230.00 to $240.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Regal Rexnord in a research report on Friday, July 17th. Wolfe Research set a $250.00 price target on shares of Regal Rexnord in a research note on Thursday, July 9th. Finally, Oppenheimer reissued an “outperform” rating on shares of Regal Rexnord in a research report on Friday, July 10th. Eight investment 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 an average rating of “Moderate Buy” and a consensus target price of $247.00.

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.