Short Interest in Regal Rexnord Co. (NYSE:RRX) Expands By 17.6%

Regal Rexnord Co. (NYSE:RRX - Get Free Report) was the target of a significant increase in short interest in the month of May. As of May 15th, there was short interest totalling 2,000,000 shares, an increase of 17.6% from the April 30th total of 1,700,000 shares. Based on an average daily trading volume, of 837,300 shares, the short-interest ratio is currently 2.4 days. Currently, 3.0% of the company's shares are short sold.

Regal Rexnord Stock Up 0.3%

NYSE RRX traded up $0.42 during trading hours on Wednesday, hitting $136.45. The company's stock had a trading volume of 519,629 shares, compared to its average volume of 576,756. Regal Rexnord has a 52 week low of $90.56 and a 52 week high of $185.28. The company has a market capitalization of $9.05 billion, a PE ratio of 46.25, a price-to-earnings-growth ratio of 1.37 and a beta of 1.16. The company has a current ratio of 2.26, a quick ratio of 1.25 and a debt-to-equity ratio of 0.87. The company's 50-day simple moving average is $118.16 and its two-hundred day simple moving average is $138.42.

Regal Rexnord (NYSE:RRX - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported $2.15 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.33. Regal Rexnord had a net margin of 3.25% and a return on equity of 9.57%. The business had revenue of $1.42 billion for the quarter, compared to analysts' expectations of $1.38 billion. During the same quarter last year, the firm earned $2.00 EPS. The firm's revenue for the quarter was down 8.4% compared to the same quarter last year. Research analysts anticipate that Regal Rexnord will post 9.95 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 14th. Investors of record on Monday, June 30th will be given a $0.35 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.40 annualized dividend and a yield of 1.03%. Regal Rexnord's payout ratio is 39.89%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RRX. The Goldman Sachs Group dropped their target price on shares of Regal Rexnord from $183.00 to $163.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Citigroup increased their price objective on shares of Regal Rexnord from $110.00 to $145.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Oppenheimer cut their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating on the stock in a research report on Friday, February 7th. Barclays increased their price objective on shares of Regal Rexnord from $155.00 to $160.00 and gave the stock an "overweight" rating in a research report on Monday, May 12th. Finally, Robert W. Baird increased their price objective on shares of Regal Rexnord from $167.00 to $172.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Regal Rexnord presently has an average rating of "Buy" and a consensus price target of $171.25.

Insider Activity at Regal Rexnord

In related news, CEO Louis V. Pinkham sold 10,593 shares of the business's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $140.33, for a total value of $1,486,515.69. Following the transaction, the chief executive officer now owns 175,954 shares in the company, valued at $24,691,624.82. The trade was a 5.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.82% of the stock is owned by company insiders.

Hedge Funds Weigh In On Regal Rexnord

Large investors have recently added to or reduced their stakes in the business. Skandinaviska Enskilda Banken AB publ increased its stake in Regal Rexnord by 472.4% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company's stock valued at $25,000 after buying an additional 137 shares during the last quarter. Bernard Wealth Management Corp. purchased a new stake in shares of Regal Rexnord during the 4th quarter worth approximately $30,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Regal Rexnord during the 4th quarter worth approximately $33,000. Geneos Wealth Management Inc. increased its stake in shares of Regal Rexnord by 135.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 221 shares of the company's stock worth $25,000 after purchasing an additional 127 shares during the last quarter. Finally, Golden State Wealth Management LLC increased its stake in shares of Regal Rexnord by 106.2% during the 1st quarter. Golden State Wealth Management LLC now owns 268 shares of the company's stock worth $31,000 after purchasing an additional 138 shares during the last quarter. Institutional investors 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.

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