Insider Selling: Regal Rexnord (NYSE:RRX) CEO Sells 35,935 Shares of Stock

Regal Rexnord Corporation (NYSE:RRX) CEO Louis Pinkham sold 35,935 shares of the business’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $146.20, for a total value of $5,253,697.00. Following the completion of the transaction, the chief executive officer directly owned 103,262 shares of the company’s stock, valued at approximately $15,096,904.40. The trade was a 25.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Regal Rexnord Stock Down 0.9%

Regal Rexnord stock traded down $1.31 during trading hours on Wednesday, reaching $145.84. The stock had a trading volume of 817,300 shares, compared to its average volume of 772,256. Regal Rexnord Corporation has a 52 week low of $90.56 and a 52 week high of $177.48. The business’s 50 day moving average price is $141.32 and its 200-day moving average price is $143.76. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.00 and a quick ratio of 0.93. The company has a market cap of $9.68 billion, a price-to-earnings ratio of 37.69, a PEG ratio of 1.52 and a beta of 1.19.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings data on Friday, September 8th. The company reported $2.76 earnings per share (EPS) for the quarter. Regal Rexnord had a net margin of 4.38% and a return on equity of 9.75%. The firm had revenue of $1.85 billion for the quarter. Sell-side analysts anticipate that Regal Rexnord Corporation will post 9.95 EPS for the current year.

Regal Rexnord Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 14th. Investors of record on Wednesday, December 31st will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Wednesday, December 31st. Regal Rexnord’s payout ratio is currently 36.18%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Wall Street Zen cut Regal Rexnord from a “strong-buy” rating to a “buy” rating in a report on Sunday, September 21st. Weiss Ratings restated a “hold (c)” rating on shares of Regal Rexnord in a report on Wednesday, October 8th. 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 report on Friday, October 31st. Barclays reissued an “overweight” rating and issued a $165.00 price objective on shares of Regal Rexnord in a report on Monday, November 3rd. Finally, The Goldman Sachs Group decreased their price target on shares of Regal Rexnord from $192.00 to $170.00 and set a “buy” rating for the company in a research report on Tuesday, September 16th. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $184.63.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in RRX. CIBC Bancorp USA Inc. purchased a new stake in shares of Regal Rexnord during the 3rd quarter worth approximately $22,716,000. Alpine Global Management LLC acquired a new position in Regal Rexnord during the third quarter worth about $204,000. Wilmington Savings Fund Society FSB grew its position in shares of Regal Rexnord by 629.9% in the third quarter. Wilmington Savings Fund Society FSB now owns 562 shares of the company’s stock valued at $81,000 after purchasing an additional 485 shares during the last quarter. Coldstream Capital Management Inc. increased its stake in shares of Regal Rexnord by 15.0% during the 3rd quarter. Coldstream Capital Management Inc. now owns 2,706 shares of the company’s stock worth $388,000 after purchasing an additional 352 shares in the last quarter. Finally, Danske Bank A S acquired a new position in shares of Regal Rexnord during the 3rd quarter worth approximately $100,000. 99.72% of the stock is currently owned by institutional investors and hedge funds.

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.