First Citizens Bank & Trust Co. Acquires Shares of 1,376 Regal Rexnord Co. (NYSE:RRX)

First Citizens Bank & Trust Co. bought a new stake in Regal Rexnord Co. (NYSE:RRX) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,376 shares of the company’s stock, valued at approximately $213,000.

A number of other institutional investors have also modified their holdings of the stock. State Street Corp lifted its holdings in shares of Regal Rexnord by 1.3% during the third quarter. State Street Corp now owns 1,972,866 shares of the company’s stock worth $327,944,000 after purchasing an additional 24,860 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Regal Rexnord by 6.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,289,917 shares of the company’s stock worth $213,971,000 after buying an additional 83,823 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Regal Rexnord by 7.2% in the 3rd quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company’s stock worth $204,254,000 after acquiring an additional 77,215 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Regal Rexnord by 1.1% in the third quarter. The Manufacturers Life Insurance Company now owns 1,137,746 shares of the company’s stock valued at $188,729,000 after acquiring an additional 12,301 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Regal Rexnord by 0.9% during the third quarter. Geode Capital Management LLC now owns 1,104,090 shares of the company’s stock worth $183,195,000 after acquiring an additional 9,338 shares during the period. Institutional investors and hedge funds own 99.72% of the company’s stock.

Insider Transactions at Regal Rexnord

In related news, CEO Louis V. Pinkham sold 8,774 shares of Regal Rexnord stock in a transaction dated 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 sale, the chief executive officer now owns 149,618 shares in the company, valued at approximately $26,935,728.54. This trade represents a 5.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on RRX shares. Barclays lowered their price objective on Regal Rexnord from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. The Goldman Sachs Group lifted their price target on Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. StockNews.com cut Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 16th. Citigroup decreased their target price on shares of Regal Rexnord from $210.00 to $190.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Finally, Robert W. Baird cut their price target on shares of Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $202.00.

Regal Rexnord Trading Down 1.2 %

NYSE:RRX opened at $160.90 on Wednesday. Regal Rexnord Co. has a 52-week low of $130.94 and a 52-week 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 fifty day simple moving average of $163.06 and a 200-day simple moving average of $162.88. The company has a market capitalization of $10.66 billion, a PE ratio of 50.76, a price-to-earnings-growth ratio of 1.57 and a beta of 1.04.

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 the consensus estimate of $2.48 by $0.01. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.53 billion. Regal Rexnord had a net margin of 3.41% and a return on equity of 9.48%. The company’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.10 earnings per share. On average, equities research analysts expect that Regal Rexnord Co. will post 9.24 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date is Monday, March 31st. Regal Rexnord’s dividend payout ratio (DPR) is presently 44.16%.

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.