Regal Rexnord Co. (NYSE:RRX) Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC cut its stake in Regal Rexnord Co. (NYSE:RRX) by 20.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 371,268 shares of the company’s stock after selling 92,653 shares during the period. Fisher Asset Management LLC owned 0.56% of Regal Rexnord worth $54,955,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC raised its stake in shares of Regal Rexnord by 80.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 509,265 shares of the company’s stock valued at $75,382,000 after purchasing an additional 226,435 shares in the last quarter. WCM Investment Management LLC lifted its stake in shares of Regal Rexnord by 56.8% in the 4th quarter. WCM Investment Management LLC now owns 144,139 shares of the company’s stock worth $21,549,000 after acquiring an additional 52,214 shares during the period. Retirement Systems of Alabama boosted its holdings in shares of Regal Rexnord by 5.2% in the fourth quarter. Retirement Systems of Alabama now owns 159,126 shares of the company’s stock valued at $23,554,000 after acquiring an additional 7,935 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Regal Rexnord by 13.5% during the third quarter. The Manufacturers Life Insurance Company now owns 354,484 shares of the company’s stock valued at $50,649,000 after acquiring an additional 42,110 shares during the period. Finally, O Shaughnessy Asset Management LLC raised its holdings in Regal Rexnord by 7.1% during the third quarter. O Shaughnessy Asset Management LLC now owns 3,834 shares of the company’s stock worth $548,000 after purchasing an additional 253 shares in the last quarter. 99.72% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on RRX shares. Oppenheimer increased their price target on Regal Rexnord from $185.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, March 13th. KeyCorp lifted their target price on Regal Rexnord from $180.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, March 25th. Finally, Barclays boosted their price target on shares of Regal Rexnord from $200.00 to $203.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $197.00.

Insider Buying and Selling

In other Regal Rexnord news, EVP Thomas E. Valentyn sold 1,931 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $166.09, for a total value of $320,719.79. Following the completion of the sale, the executive vice president now owns 27,180 shares in the company, valued at approximately $4,514,326.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Thomas E. Valentyn sold 1,931 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $166.09, for a total transaction of $320,719.79. Following the transaction, the executive vice president now owns 27,180 shares of the company’s stock, valued at approximately $4,514,326.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Jerrald R. Morton sold 2,992 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $154.34, for a total value of $461,785.28. Following the sale, the executive vice president now directly owns 15,884 shares of the company’s stock, valued at approximately $2,451,536.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,570 shares of company stock worth $892,301. 0.82% of the stock is owned by company insiders.

Regal Rexnord Trading Up 1.6 %

Shares of NYSE RRX opened at $165.08 on Friday. The company has a quick ratio of 1.59, a current ratio of 2.55 and a debt-to-equity ratio of 1.00. Regal Rexnord Co. has a 12 month low of $97.18 and a 12 month high of $183.85. The company has a market cap of $10.98 billion, a price-to-earnings ratio of -189.74, a P/E/G ratio of 1.62 and a beta of 1.16. The business has a fifty day simple moving average of $169.91 and a 200-day simple moving average of $145.81.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $2.28 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.02. The company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.63 billion. Regal Rexnord had a negative net margin of 0.92% and a positive return on equity of 9.58%. The business’s quarterly revenue was up 29.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.64 earnings per share. Sell-side analysts predict that Regal Rexnord Co. will post 10.05 EPS for the current year.

Regal Rexnord Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend is Friday, June 28th. Regal Rexnord’s dividend payout ratio (DPR) is -160.92%.

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.