Thrivent Financial for Lutherans Sells 77,933 Shares of Regal Rexnord Corporation $RRX

Thrivent Financial for Lutherans lessened its holdings in Regal Rexnord Corporation (NYSE:RRX) by 73.7% in the 2nd quarter, Holdings Channel reports. The firm owned 27,814 shares of the company’s stock after selling 77,933 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Regal Rexnord were worth $4,031,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Geneos Wealth Management Inc. raised its holdings in Regal Rexnord by 135.1% during the first quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock valued at $25,000 after buying an additional 127 shares in the last quarter. Allworth Financial LP increased its holdings in shares of Regal Rexnord by 85.7% during the 2nd quarter. Allworth Financial LP now owns 195 shares of the company’s stock valued at $28,000 after acquiring an additional 90 shares during the last quarter. Tobam increased its holdings in shares of Regal Rexnord by 54.8% during the 2nd quarter. Tobam now owns 308 shares of the company’s stock valued at $45,000 after acquiring an additional 109 shares during the last quarter. Jones Financial Companies Lllp raised its stake in shares of Regal Rexnord by 91.6% in the 1st quarter. Jones Financial Companies Lllp now owns 617 shares of the company’s stock valued at $70,000 after acquiring an additional 295 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ lifted its holdings in Regal Rexnord by 369.3% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 779 shares of the company’s stock worth $113,000 after purchasing an additional 613 shares during the last quarter. 99.72% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Regal Rexnord news, CEO Louis V. Pinkham sold 35,935 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $146.20, for a total value of $5,253,697.00. Following the completion of the sale, the chief executive officer owned 103,262 shares in the company, valued at approximately $15,096,904.40. This trade represents a 25.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.82% of the stock is currently owned by company insiders.

Regal Rexnord Price Performance

NYSE:RRX opened at $140.00 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.05 and a quick ratio of 0.97. Regal Rexnord Corporation has a one year low of $90.56 and a one year high of $167.77. The company has a fifty day moving average price of $141.84 and a 200 day moving average price of $144.62. The stock has a market cap of $9.29 billion, a P/E ratio of 36.18, a PEG ratio of 1.45 and a beta of 1.11.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings data on Friday, September 8th. The company reported $2.76 earnings per share (EPS) for the quarter. The company had revenue of $1.85 billion for the quarter. Regal Rexnord had a net margin of 4.38% and a return on equity of 9.64%. Analysts anticipate that Regal Rexnord Corporation will post 9.95 earnings per share for the current year.

Regal Rexnord Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 14th. Investors of record on Wednesday, December 31st will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.0%. The ex-dividend date is Wednesday, December 31st. Regal Rexnord’s payout ratio is currently 36.18%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on RRX shares. Wall Street Zen downgraded Regal Rexnord from a “strong-buy” rating to a “buy” rating in a report on Sunday, September 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Regal Rexnord in a report on Wednesday, October 8th. The Goldman Sachs Group dropped their target price on shares of Regal Rexnord from $192.00 to $170.00 and set a “buy” rating on the stock in a report on Tuesday, September 16th. JPMorgan Chase & Co. cut their target price on shares of Regal Rexnord from $200.00 to $190.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. Finally, KeyCorp lowered their price target on Regal Rexnord from $180.00 to $170.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 14th. Seven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $179.63.

Regal Rexnord 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.