Taking a Closer Look At Regal Rexnord Corporation (RRX) Following Its Recent Trade

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Regal Rexnord Corporation’s filing revealed that its Segment President* Kunze John C unloaded Company’s shares for reported $139.0 on Aug 08. In the deal valued at $139.42 per share,1 shares were sold. As a result of this transaction, Kunze John C now holds 6,999 shares worth roughly $ 0.94 million.

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Then, Kunze John C sold 1,155 shares, generating $158,092 in total proceeds. Upon selling the shares at $136.88, the Segment President* now owns 6,920 shares.

Before that, STOELTING CURTIS W sold 805 shares. Regal Rexnord Corporation shares valued at $128,578 were divested by the Director at a price of $159.72 per share. As a result of the transaction, STOELTING CURTIS W now holds 0 shares, worth roughly $0.0.

Wolfe Research downgraded its Regal Rexnord Corporation [RRX] rating to a Peer perform from a an Outperform in a research note published on Tuesday.

Price Performance Review of RRX

On Tuesday, Regal Rexnord Corporation [NYSE:RRX] saw its stock fall -1.75% to $134.43. On the same session, the stock had its day’s lowest price of $133.38, but rose to a high of $136.97. Over the last five days, the stock has lost -1.61%. Regal Rexnord Corporation shares have risen nearly 12.04% since the year began. Nevertheless, the stocks have fallen -16.93% over the past one year. While a 52-week high of $166.40 was reached on 01/18/23, a 52-week low of $108.28 was recorded on 01/03/23. SMA at 50 days reached $125.91, while 200 days put it at $130.66. A total of 0.78 million shares were traded, compared to the trading of 0.32 million shares in the previous session.

Levels Of Support And Resistance For RRX Stock

The 24-hour chart illustrates a support level at 132.88, which if violated will result in even more drops to 131.34. On the upside, there is a resistance level at 136.47. A further resistance level may holdings at 138.52. The Relative Strength Index (RSI) on the 14-day chart is 59.25, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 3.47, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 21.91%. Stochastics %K at 84.79% indicates the stock is a selling.

How much short interest is there in Regal Rexnord Corporation?

A steep rise in short interest was recorded in Regal Rexnord Corporation stocks on Oct 13, 2022, growing by 0.19 million shares to a total of 1.19 million shares. Yahoo Finance data shows the prior-month short interest on Sep 14, 2022 was 1.0 million shares. There was a rise of 16.06%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 1.79% of the overall stock float, the days-to-cover ratio (short ratio) rose to 2.1.

Regal Rexnord Corporation [RRX] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 6,701,927 shares, or roughly 10.13% of the outstanding RRX shares. In other words, the investor’s shares have risen by 167,156 from its previous 13-F filing of 6534771.0. Additionally, Capital Research & Management Co decreased -0.08% of its stake after which the total value it holdings stand at $717,337,144, while BlackRock Fund Advisors reduced -0.45% of its stake to hold $610.31 million in the firm. Over the last quarter, Fidelity Management & Research Co purchased 519,412 shares of Regal Rexnord Corporation, while Massachusetts Financial Services bought 951,511 shares. At present, AllianceBernstein LP is holding 2,702,574 shares valued at $324.25 million. Janus Henderson Investors US LLC owned 1,827,026 shares of the company at the time of its most recent 13F filing, worth $219.21 million.

According to FactSet, Regal Rexnord Corporation’s share price will average $157.71 in the next year, based on opinions of analysts polled by the firm. This is up nearly 16.93 percent from its previous closing price of $136.83. Analysts expect Regal Rexnord Corporation stock to reach the higher price of $180.00, while the lowest price estimate is $130.00. However, 7 analysts have rated RRX stock as an Overweight in their predictions for 2023.

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