By otakuyassine3@gmail.com 
Regal Rexnord Co. (NYSE:RRX – Get Free Report) saw a large decline in short interest during the month of January. As of January 15th, there was short interest totalling 1,190,000 shares, a decline of 19.0% from the December 31st total of 1,470,000 shares. Based on an average trading volume of 466,100 shares, the short-interest ratio is presently 2.6 days. Approximately 1.8% of the shares of the stock are sold short.
Regal Rexnord Trading Down 2.8 %
RRX traded down $4.49 on Friday, reaching $158.56. 1,225,905 shares of the company traded hands, compared to its average volume of 388,681. Regal Rexnord has a one year low of $130.94 and a one year high of $185.28. The firm has a fifty day simple moving average of $162.26 and a two-hundred day simple moving average of $162.96. The company has a market cap of $10.50 billion, a P/E ratio of 50.02, a price-to-earnings-growth ratio of 1.55 and a beta of 1.04. The company has a quick ratio of 1.35, a current ratio of 2.45 and a debt-to-equity ratio of 0.87.
Regal Rexnord (NYSE:RRX – Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The company reported $2.49 earnings per share for the quarter, beating analysts’ consensus estimates of $2.48 by $0.01. Regal Rexnord had a net margin of 3.41% and a return on equity of 9.48%. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter last year, the business posted $2.10 EPS. The firm’s revenue for the quarter was down 10.4% on a year-over-year basis. As a group, equities research analysts expect that Regal Rexnord will post 9.24 earnings per share for the current year.
Regal Rexnord Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be issued a $0.35 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.40 annualized dividend and a dividend yield of 0.88%. Regal Rexnord’s dividend payout ratio is currently 44.16%.
Insider Buying and Selling at Regal Rexnord
In other Regal Rexnord news, CEO Louis V. Pinkham sold 8,774 shares of Regal Rexnord stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $180.03, for a total value of $1,579,583.22. Following the completion of the transaction, the chief executive officer now directly owns 149,618 shares of the company’s stock, valued at $26,935,728.54. This trade represents a 5.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.82% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Regal Rexnord
Several large investors have recently modified their holdings of RRX. Tobam bought a new stake in shares of Regal Rexnord in the 4th quarter valued at about $45,000. UMB Bank n.a. raised its holdings in shares of Regal Rexnord by 72.5% in the 3rd quarter. UMB Bank n.a. now owns 345 shares of the company’s stock valued at $57,000 after purchasing an additional 145 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its stake in shares of Regal Rexnord by 30.3% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company’s stock worth $71,000 after acquiring an additional 100 shares in the last quarter. 1620 Investment Advisors Inc. raised its stake in shares of Regal Rexnord by 17.4% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 452 shares of the company’s stock worth $75,000 after acquiring an additional 67 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Regal Rexnord by 30.0% during the 3rd quarter. GAMMA Investing LLC now owns 841 shares of the company’s stock worth $140,000 after acquiring an additional 194 shares in the last quarter. Institutional investors own 99.72% of the company’s stock.
Analyst Ratings Changes
RRX has been the subject of a number of recent research reports. The Goldman Sachs Group lifted their price objective on shares of Regal Rexnord from $191.00 to $213.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Citigroup dropped their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Barclays dropped their price target on shares of Regal Rexnord from $205.00 to $190.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Robert W. Baird dropped their price target on shares of Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Finally, StockNews.com cut shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 16th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $202.00.
View Our Latest Report on Regal Rexnord
Regal Rexnord Company Profile
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.
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