Geode Capital Management LLC Has $183.20 Million Stake in Regal Rexnord Co. (NYSE:RRX)

Geode Capital Management LLC lifted its stake in Regal Rexnord Co. (NYSE:RRX) by 0.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,104,090 shares of the company’s stock after purchasing an additional 9,338 shares during the period. Geode Capital Management LLC owned 1.67% of Regal Rexnord worth $183,195,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Headlands Technologies LLC acquired a new stake in shares of Regal Rexnord in the 2nd quarter valued at $46,000. 1620 Investment Advisors Inc. bought a new position in Regal Rexnord in the second quarter valued at about $52,000. UMB Bank n.a. boosted its holdings in Regal Rexnord by 72.5% in the third quarter. UMB Bank n.a. now owns 345 shares of the company’s stock valued at $57,000 after acquiring an additional 145 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its position in Regal Rexnord by 30.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company’s stock worth $71,000 after purchasing an additional 100 shares during the period. Finally, CWM LLC raised its holdings in Regal Rexnord by 25.4% during the 2nd quarter. CWM LLC now owns 825 shares of the company’s stock worth $112,000 after purchasing an additional 167 shares during the last quarter. Institutional investors own 99.72% of the company’s stock.

Insider Transactions at Regal Rexnord

In related news, CEO Louis V. Pinkham sold 8,774 shares of the business’s 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 sale, the chief executive officer now directly owns 149,618 shares of the company’s stock, valued at approximately $26,935,728.54. The trade was a 5.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.82% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on RRX shares. Robert W. Baird reduced their target price on shares of Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. The Goldman Sachs Group raised their price objective on shares of Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a research note on Thursday. Citigroup started coverage on shares of Regal Rexnord in a research report on Monday, October 14th. They set a “buy” rating and a $200.00 target price for the company. Barclays raised their price target on Regal Rexnord from $190.00 to $205.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Finally, Jefferies Financial Group started coverage on Regal Rexnord in a research note on Thursday. They set a “buy” rating and a $215.00 price objective for the company. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $205.13.

Regal Rexnord Stock Performance

Shares of Regal Rexnord stock opened at $168.88 on Monday. Regal Rexnord Co. has a 12 month low of $130.94 and a 12 month high of $185.28. The company has a current ratio of 2.45, a quick ratio of 1.35 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $11.18 billion, a PE ratio of 53.27, a PEG ratio of 1.83 and a beta of 1.03. The stock’s fifty day simple moving average is $171.79 and its 200 day simple moving average is $158.82.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings results on Monday, November 4th. The company reported $2.49 EPS for the quarter, topping analysts’ consensus estimates of $2.48 by $0.01. Regal Rexnord had a return on equity of 9.48% and a net margin of 3.41%. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same quarter last year, the firm posted $2.10 earnings per share. Regal Rexnord’s revenue was down 10.4% compared to the same quarter last year. On average, research analysts predict that Regal Rexnord Co. will post 9.24 EPS for the current year.

Regal Rexnord Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.83%. The ex-dividend date is Tuesday, December 31st. Regal Rexnord’s dividend payout ratio (DPR) is presently 44.16%.

Regal Rexnord 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.