Regal Rexnord Corporation (NYSE:RRX – Get Free Report) CFO Robert Rehard sold 6,499 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $200.00, for a total value of $1,299,800.00. Following the completion of the transaction, the chief financial officer owned 27,965 shares of the company’s stock, valued at approximately $5,593,000. This represents a 18.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Robert Rehard also recently made the following trade(s):
- On Wednesday, February 25th, Robert Rehard sold 968 shares of Regal Rexnord stock. The shares were sold at an average price of $223.00, for a total value of $215,864.00.
Regal Rexnord Stock Performance
NYSE:RRX opened at $206.51 on Thursday. The business’s 50-day moving average price is $199.87 and its two-hundred day moving average price is $178.44. Regal Rexnord Corporation has a twelve month low of $127.96 and a twelve month high of $236.35. The stock has a market cap of $13.75 billion, a P/E ratio of 48.03, a PEG ratio of 1.97 and a beta of 1.15. The company has a quick ratio of 1.08, a current ratio of 2.17 and a debt-to-equity ratio of 0.69.
Regal Rexnord Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 30th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.40 annualized dividend and a dividend yield of 0.7%. Regal Rexnord’s dividend payout ratio (DPR) is presently 32.56%.
Analysts Set New Price Targets
A number of equities analysts recently weighed in on RRX shares. Robert W. Baird set a $253.00 price objective on Regal Rexnord in a report on Friday, February 6th. Oppenheimer raised their price objective on Regal Rexnord from $180.00 to $225.00 and gave the company an “outperform” rating in a report on Friday, February 6th. JPMorgan Chase & Co. raised their price objective on Regal Rexnord from $230.00 to $240.00 and gave the company an “overweight” rating in a report on Tuesday. The Goldman Sachs Group raised their price objective on Regal Rexnord from $170.00 to $230.00 and gave the company a “buy” rating in a report on Monday, February 9th. Finally, Citigroup raised their price objective on Regal Rexnord from $230.00 to $240.00 and gave the company a “buy” rating in a report on Monday, April 13th. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $232.25.
Check Out Our Latest Report on Regal Rexnord
Hedge Funds Weigh In On Regal Rexnord
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE grew its position in Regal Rexnord by 4.4% during the 1st quarter. Bank of America Corp DE now owns 397,219 shares of the company’s stock worth $74,383,000 after acquiring an additional 16,615 shares during the last quarter. Janus Henderson Group PLC grew its position in Regal Rexnord by 362.4% during the 1st quarter. Janus Henderson Group PLC now owns 127,677 shares of the company’s stock worth $23,911,000 after acquiring an additional 100,067 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Regal Rexnord by 60.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 242 shares of the company’s stock valued at $45,000 after purchasing an additional 91 shares during the last quarter. California State Teachers Retirement System lifted its holdings in Regal Rexnord by 21.7% in the 1st quarter. California State Teachers Retirement System now owns 72,969 shares of the company’s stock worth $13,664,000 after buying an additional 13,026 shares during the period. Finally, Royal Bank of Canada grew its position in shares of Regal Rexnord by 54.5% in the 1st quarter. Royal Bank of Canada now owns 72,038 shares of the company’s stock worth $13,489,000 after buying an additional 25,422 shares during the last quarter. 99.72% of the stock is currently owned by institutional investors.
Regal Rexnord Company Profile
Regal Rexnord Corporation (NYSE: RRX) is a global industrial manufacturer specializing in electric motors, power generation equipment and automated motion control systems. The company designs, engineers and produces a broad portfolio of products that includes energy-efficient electric motors, variable frequency drives, gearboxes, couplings, bearings and power transmission components. These offerings support critical applications in industries such as heating, ventilation and air conditioning (HVAC), refrigeration, data centers, water treatment, food and beverage processing, mining, oil and gas, and material handling.
The company’s operations are organized into multiple business segments that address distinct customer needs.
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