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

Regal Rexnord Co. (NYSE:RRX) saw a large decrease in short interest during the month of January. As of January 15th, there was short interest totalling 1,190,000 shares, a decrease of 19.0% from the December 31st total of 1,470,000 shares. Currently, 1.8% of the shares of the stock are short sold. Based on an average trading volume of 466,100 shares, the days-to-cover ratio is currently 2.6 days.

Regal Rexnord Price Performance

NYSE:RRX traded down $6.95 on Monday, reaching $151.78. 861,748 shares of the company’s stock traded hands, compared to its average volume of 490,744. Regal Rexnord has a 12 month low of $130.94 and a 12 month high of $185.28. The company has a quick ratio of 1.35, a current ratio of 2.45 and a debt-to-equity ratio of 0.87. The stock has a 50-day simple moving average of $161.65 and a 200-day simple moving average of $163.05. The firm has a market cap of $10.05 billion, a PE ratio of 47.88, a P/E/G ratio of 1.53 and a beta of 1.03.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings results on Monday, November 4th. The company reported $2.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.48 by $0.01. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.53 billion. Regal Rexnord had a return on equity of 9.48% and a net margin of 3.41%. Regal Rexnord’s quarterly revenue was down 10.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.10 earnings per share. Equities research analysts forecast 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 given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date is Monday, March 31st. Regal Rexnord’s payout ratio is presently 44.16%.

Insider Buying and Selling at Regal Rexnord

In other news, CEO Louis V. Pinkham sold 8,774 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $180.03, for a total value of $1,579,583.22. Following the completion of the sale, the chief executive officer now directly owns 149,618 shares of the company’s stock, valued at approximately $26,935,728.54. This represents a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.82% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Regal Rexnord

Several hedge funds have recently made changes to their positions in RRX. Tobam purchased a new position in Regal Rexnord in the 4th quarter valued at about $45,000. UMB Bank n.a. lifted its holdings in Regal Rexnord by 72.5% during the 3rd quarter. UMB Bank n.a. now owns 345 shares of the company’s stock worth $57,000 after buying an additional 145 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in 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 buying an additional 100 shares in the last quarter. 1620 Investment Advisors Inc. raised its holdings 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 in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Regal Rexnord by 30.0% in the 3rd quarter. GAMMA Investing LLC now owns 841 shares of the company’s stock valued at $140,000 after purchasing an additional 194 shares in the last quarter. 99.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RRX has been the topic of several recent analyst reports. Robert W. Baird lowered their price target on Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Barclays cut their price target on Regal Rexnord from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. StockNews.com lowered Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 16th. Jefferies Financial Group assumed coverage on Regal Rexnord in a report on Thursday, December 12th. They issued a “buy” rating and a $215.00 target price for the company. Finally, The Goldman Sachs Group boosted their price objective on Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a report on Thursday, December 12th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Regal Rexnord presently has an average rating of “Moderate Buy” and an average price target of $202.00.

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.