Regal Rexnord Corporation (NYSE:RRX) Short Interest Update

Regal Rexnord Corporation (NYSE:RRX) saw a large growth in short interest in the month of March. As of March 31st, there was short interest totaling 2,501,117 shares, a growth of 40.4% from the March 15th total of 1,781,433 shares. Currently, 3.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,074,457 shares, the short-interest ratio is presently 2.3 days.

Insiders Place Their Bets

In other Regal Rexnord news, CFO Robert Rehard sold 968 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $223.00, for a total transaction of $215,864.00. Following the sale, the chief financial officer directly owned 34,447 shares of the company’s stock, valued at $7,681,681. This trade represents a 2.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Curtis W. Stoelting sold 4,500 shares of the company’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $180.00, for a total value of $810,000.00. Following the completion of the transaction, the director directly owned 15,617 shares of the company’s stock, valued at approximately $2,811,060. This trade represents a 22.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 53,451 shares of company stock worth $11,386,689. 0.63% of the stock is currently owned by corporate insiders.

Institutional Trading of Regal Rexnord

Several large investors have recently made changes to their positions in the business. Covestor Ltd grew its position in shares of Regal Rexnord by 81.6% during the 4th quarter. Covestor Ltd now owns 178 shares of the company’s stock valued at $25,000 after acquiring an additional 80 shares during the period. Aster Capital Management DIFC Ltd purchased a new stake in shares of Regal Rexnord during the third quarter worth about $27,000. Garner Asset Management Corp purchased a new position in Regal Rexnord in the 4th quarter valued at about $27,000. IFP Advisors Inc boosted its holdings in Regal Rexnord by 34.0% in the 4th quarter. IFP Advisors Inc now owns 193 shares of the company’s stock worth $27,000 after buying an additional 49 shares during the last quarter. Finally, Root Financial Partners LLC purchased a new stake in Regal Rexnord during the 3rd quarter worth approximately $28,000. 99.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RRX has been the topic of several recent analyst reports. Citigroup lifted their price objective on shares of Regal Rexnord from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Monday. Oppenheimer raised their target price on shares of Regal Rexnord from $180.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. Robert W. Baird set a $253.00 price target on shares of Regal Rexnord in a report on Friday, February 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Regal Rexnord in a research note on Thursday, January 22nd. Finally, Wall Street Zen lowered Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Regal Rexnord currently has a consensus rating of “Moderate Buy” and an average price target of $229.75.

Regal Rexnord Price Performance

Regal Rexnord stock opened at $201.13 on Wednesday. Regal Rexnord has a 52-week low of $94.42 and a 52-week high of $229.30. The company has a quick ratio of 1.10, a current ratio of 2.15 and a debt-to-equity ratio of 0.70. The firm’s fifty day moving average is $201.67 and its 200 day moving average is $165.60. The company has a market cap of $13.39 billion, a price-to-earnings ratio of 49.14, a PEG ratio of 1.95 and a beta of 1.11.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings data on Thursday, February 5th. The company reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. The business had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Regal Rexnord had a net margin of 4.71% and a return on equity of 9.60%. The business’s revenue was up 4.3% on a year-over-year basis. During the same period last year, the company posted $2.34 EPS. Sell-side analysts forecast that Regal Rexnord will post 9.95 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 31st were issued a $0.35 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.7%. Regal Rexnord’s payout ratio is 33.33%.

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.