Regal Rexnord Co. (NYSE:RRX) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its position in shares of Regal Rexnord Co. (NYSE:RRX) by 1.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 431,774 shares of the company’s stock after acquiring an additional 4,752 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.65% of Regal Rexnord worth $71,623,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Headlands Technologies LLC acquired a new position in Regal Rexnord in the 2nd quarter valued at about $46,000. UMB Bank n.a. lifted 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. 1620 Investment Advisors Inc. purchased a new position in Regal Rexnord in the second quarter worth approximately $52,000. GAMMA Investing LLC raised its position in Regal Rexnord by 13.9% in the second quarter. GAMMA Investing LLC now owns 647 shares of the company’s stock valued at $87,000 after purchasing an additional 79 shares during the period. Finally, CWM LLC boosted its position in shares of Regal Rexnord by 25.4% during the second quarter. CWM LLC now owns 825 shares of the company’s stock worth $112,000 after buying an additional 167 shares during the period. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Insider Activity at Regal Rexnord

In related news, CEO Louis V. Pinkham sold 8,774 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $180.03, for a total transaction of $1,579,583.22. Following the completion of the transaction, the chief executive officer now owns 149,618 shares in the company, valued at $26,935,728.54. The trade was a 5.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Barclays increased their price target on shares of Regal Rexnord from $180.00 to $190.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Loop Capital restated a “buy” rating and issued a $200.00 price objective on shares of Regal Rexnord in a report on Thursday, September 19th. Robert W. Baird lowered their price objective on Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Citigroup began coverage on shares of Regal Rexnord in a research note on Monday, October 14th. They issued a “buy” rating and a $200.00 price objective for the company. Finally, StockNews.com upgraded Regal Rexnord from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Regal Rexnord currently has an average rating of “Moderate Buy” and an average target price of $193.00.

Regal Rexnord Price Performance

RRX opened at $169.66 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.35 and a current ratio of 2.45. The company has a market capitalization of $11.24 billion, a P/E ratio of 53.52, a PEG ratio of 1.97 and a beta of 1.04. Regal Rexnord Co. has a 1-year low of $114.18 and a 1-year high of $185.28. The company has a 50-day moving average of $170.87 and a 200-day moving average of $157.52.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings results 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. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.53 billion. Regal Rexnord had a return on equity of 9.48% and a net margin of 3.41%. The business’s quarterly revenue was down 10.4% on a year-over-year basis. During the same period in the previous year, the business earned $2.10 EPS. Equities analysts expect that Regal Rexnord Co. will post 9.25 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The firm 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 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.