Robeco Institutional Asset Management B.V. Reduces Position in Regal Rexnord Corporation $RRX

Robeco Institutional Asset Management B.V. reduced its position in shares of Regal Rexnord Corporation (NYSE:RRX) by 13.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 72,294 shares of the company’s stock after selling 11,332 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Regal Rexnord were worth $10,370,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vontobel Holding Ltd. lifted its stake in Regal Rexnord by 4.7% during the second quarter. Vontobel Holding Ltd. now owns 267,225 shares of the company’s stock worth $38,737,000 after purchasing an additional 11,992 shares during the last quarter. Granite Investment Partners LLC purchased a new stake in shares of Regal Rexnord during the 2nd quarter worth approximately $1,309,000. Prudential Financial Inc. boosted its holdings in shares of Regal Rexnord by 233.6% in the 2nd quarter. Prudential Financial Inc. now owns 45,281 shares of the company’s stock valued at $6,564,000 after buying an additional 31,709 shares in the last quarter. Stanley Capital Management LLC acquired a new position in shares of Regal Rexnord in the 2nd quarter valued at $19,367,000. Finally, Legal & General Group Plc grew its position in shares of Regal Rexnord by 2.8% in the 2nd quarter. Legal & General Group Plc now owns 112,789 shares of the company’s stock valued at $16,350,000 after buying an additional 3,096 shares during the last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.

Insider Transactions at Regal Rexnord

In other Regal Rexnord news, CEO Louis V. Pinkham sold 35,935 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $146.20, for a total value of $5,253,697.00. Following the sale, the chief executive officer owned 103,262 shares of the company’s stock, valued at $15,096,904.40. This represents a 25.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.82% of the company’s stock.

Regal Rexnord Stock Performance

Shares of RRX opened at $152.65 on Friday. The company has a quick ratio of 0.97, a current ratio of 2.05 and a debt-to-equity ratio of 0.71. Regal Rexnord Corporation has a 52-week low of $90.56 and a 52-week high of $167.77. The company has a 50-day simple moving average of $142.45 and a 200-day simple moving average of $145.23. The company has a market capitalization of $10.13 billion, a PE ratio of 39.44, a P/E/G ratio of 1.43 and a beta of 1.12.

Regal Rexnord (NYSE:RRX) last issued its earnings results on Friday, September 8th. The company reported $2.76 earnings per share for the quarter. Regal Rexnord had a net margin of 4.38% and a return on equity of 9.64%. The company had revenue of $1.85 billion for the quarter. Equities research analysts predict that Regal Rexnord Corporation will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 14th. Shareholders of record on Wednesday, December 31st will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.9%. The ex-dividend date is Wednesday, December 31st. Regal Rexnord’s dividend payout ratio (DPR) is 36.18%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on RRX shares. KeyCorp reduced their price target on shares of Regal Rexnord from $180.00 to $170.00 and set an “overweight” rating for the company in a research report on Tuesday, October 14th. Jefferies Financial Group downgraded Regal Rexnord from a “buy” rating to a “hold” rating and reduced their target price for the company from $170.00 to $160.00 in a report on Wednesday, December 10th. Zacks Research raised Regal Rexnord from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 30th. Barclays reaffirmed an “overweight” rating and set a $165.00 price target on shares of Regal Rexnord in a research report on Monday, November 3rd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Regal Rexnord in a report on Wednesday, October 8th. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $179.63.

Regal Rexnord 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.