Regal Rexnord Co. (NYSE:RRX) Short Interest Update

Regal Rexnord Co. (NYSE:RRX) was the target of a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 1,300,000 shares, a growth of 21.5% from the October 31st total of 1,070,000 shares. Based on an average daily trading volume, of 456,600 shares, the short-interest ratio is presently 2.8 days. Currently, 2.0% of the shares of the company are short sold.

Regal Rexnord Stock Performance

Shares of Regal Rexnord stock traded up $2.45 during trading hours on Monday, hitting $175.16. 222,265 shares of the company were exchanged, compared to its average volume of 454,334. The business has a 50-day moving average of $170.84 and a 200-day moving average of $157.58. Regal Rexnord has a 1 year low of $122.49 and a 1 year high of $185.28. The stock has a market capitalization of $11.60 billion, a price-to-earnings ratio of 55.44, a P/E/G ratio of 1.87 and a beta of 1.04. The company has a current ratio of 2.45, a quick ratio of 1.35 and a debt-to-equity ratio of 0.87.

Regal Rexnord (NYSE:RRX) last released its earnings results on Monday, November 4th. The company reported $2.49 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.01. Regal Rexnord had a return on equity of 9.48% and a net margin of 3.41%. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the prior year, the business posted $2.10 earnings per share. The firm’s revenue for the quarter was down 10.4% compared to the same quarter last year. As a group, analysts expect that Regal Rexnord will post 9.25 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

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 paid a $0.35 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.40 annualized dividend and a dividend yield of 0.80%. Regal Rexnord’s payout ratio is 44.16%.

Analyst Upgrades and Downgrades

RRX has been the topic of a number of research reports. 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 report on Wednesday, November 6th. Loop Capital reiterated a “buy” rating and set a $200.00 target price on shares of Regal Rexnord in a research report on Thursday, September 19th. Barclays upped their price objective on shares of Regal Rexnord from $180.00 to $190.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Citigroup started coverage on shares of Regal Rexnord in a report on Monday, October 14th. They issued a “buy” rating and a $200.00 target price for the company. Finally, StockNews.com upgraded shares of Regal Rexnord from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th. One equities 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 stock presently has an average rating of “Moderate Buy” and a consensus price target of $193.00.

Insider Buying and Selling

In other news, CEO Louis V. Pinkham sold 8,774 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $26,935,728.54. The trade was a 5.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.82% of the stock is currently owned by insiders.

Institutional Trading of Regal Rexnord

Several institutional investors have recently modified their holdings of the company. CIBC Asset Management Inc boosted its stake in shares of Regal Rexnord by 3.2% during the 3rd quarter. CIBC Asset Management Inc now owns 1,960 shares of the company’s stock valued at $325,000 after buying an additional 61 shares during the period. Hengehold Capital Management LLC boosted its stake in shares of Regal Rexnord by 1.5% during the 3rd quarter. Hengehold Capital Management LLC now owns 4,315 shares of the company’s stock valued at $716,000 after buying an additional 65 shares during the period. 1620 Investment Advisors Inc. lifted its stake in shares of Regal Rexnord by 17.4% in the 3rd quarter. 1620 Investment Advisors Inc. now owns 452 shares of the company’s stock valued at $75,000 after purchasing an additional 67 shares during the last quarter. iA Global Asset Management Inc. lifted its stake in shares of Regal Rexnord by 2.7% in the 3rd quarter. iA Global Asset Management Inc. now owns 2,626 shares of the company’s stock valued at $436,000 after purchasing an additional 68 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Regal Rexnord by 13.9% in the 2nd 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 last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.

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.