Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Regal Rexnord Corp shares valued at $1,579,583 were sold by Pinkham Louis V. on Nov 07 ’24. At $180.03 per share, Pinkham Louis V. sold 8,774 shares. The insider’s holdings dropped to 149,618 shares worth approximately $23.42 million following the completion of this transaction.
Also, Pinkham Louis V. purchased 8,774 shares, netting a total of over 1,579,566 in proceeds.
Before that, Valentyn Thomas E had sold 647 shares from its account. In a trade valued at $109,796, the EVP, General Counsel & Sec.* traded Regal Rexnord Corp shares for $169.70 each. Upon closing the transaction, the insider’s holdings decreased to 647 shares, worth approximately $4.45 million.
As published in their initiating research note from Jefferies on December 12, 2024, Regal Rexnord Corp [RRX] has been a Buy and the price target has been revised to $215. Analysts at Citigroup started covering the stock with ‘”a Buy”‘ outlook in a report released in mid October. As of June 28, 2024, Raymond James has initiated its “Mkt perform” rating for RRX. Earlier on December 11, 2023, Wolfe Research upgraded its rating. Their new recommendation was “an Outperform” for RRX stock which previously was a “a Peer perform”.
Analyzing RRX Stock Performance
During the last five days, there has been a drop of approximately -7.94%. Over the course of the year, Regal Rexnord Corp shares have jumped approximately 5.75%. Shares of the company reached a 52-week high of $185.28 on 11/06/24 and a 52-week low of $130.94 on 07/02/24. A 50-day SMA is recorded $171.38, while a 200-day SMA reached $161.15. Nevertheless, trading volume fell to 0.83 million shares from 0.41 million shares the previous day.
Support And Resistance Levels for Regal Rexnord Corp (RRX)
According to the 24-hour chart, there is a support level at 152.81, which, if violated, would cause prices to drop to 149.08. In the upper region, resistance lies at 163.50. The next price resistance is at 170.46. RSI (Relative Strength Index) is 32.37 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -7.52, which suggests the price will decrease in the coming days. Percent R is at 97.76%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
