Auxano Advisors LLC Takes Position in Regal Rexnord Co. (NYSE:RRX)

Auxano Advisors LLC acquired a new stake in Regal Rexnord Co. (NYSE:RRX) during the 4th quarter, Holdings Channel reports. The firm acquired 5,599 shares of the company’s stock, valued at approximately $829,000.

Other large investors have also made changes to their positions in the company. Cary Street Partners Investment Advisory LLC lifted its position in shares of Regal Rexnord by 652.2% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 173 shares of the company’s stock valued at $25,000 after acquiring an additional 150 shares in the last quarter. GAMMA Investing LLC bought a new stake in shares of Regal Rexnord in the fourth quarter worth about $58,000. CWM LLC increased its holdings in shares of Regal Rexnord by 48.5% in the fourth quarter. CWM LLC now owns 738 shares of the company’s stock worth $109,000 after purchasing an additional 241 shares during the last quarter. Global Retirement Partners LLC increased its holdings in shares of Regal Rexnord by 63.9% in the fourth quarter. Global Retirement Partners LLC now owns 808 shares of the company’s stock worth $109,000 after purchasing an additional 315 shares during the last quarter. Finally, International Assets Investment Management LLC increased its holdings in shares of Regal Rexnord by 11,000.0% in the fourth quarter. International Assets Investment Management LLC now owns 888 shares of the company’s stock worth $131,000 after purchasing an additional 880 shares during the last quarter. 99.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on RRX. Barclays lifted their target price on Regal Rexnord from $200.00 to $203.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. KeyCorp lifted their target price on Regal Rexnord from $180.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, March 25th. Finally, Oppenheimer lifted their target price on Regal Rexnord from $185.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, March 13th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Regal Rexnord has a consensus rating of “Moderate Buy” and an average price target of $197.00.

Regal Rexnord Stock Down 2.9 %

NYSE RRX traded down $4.90 during trading hours on Tuesday, hitting $161.37. 419,673 shares of the company were exchanged, compared to its average volume of 455,984. Regal Rexnord Co. has a 52 week low of $97.18 and a 52 week high of $183.85. The stock has a 50-day moving average price of $170.03 and a 200 day moving average price of $145.14. The company has a current ratio of 2.55, a quick ratio of 1.59 and a debt-to-equity ratio of 1.00.

Regal Rexnord (NYSE:RRX) last announced its earnings results on Wednesday, February 7th. The company reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.02. The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.63 billion. Regal Rexnord had a positive return on equity of 9.58% and a negative net margin of 0.92%. The company’s revenue for the quarter was up 29.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.64 earnings per share. Research analysts predict that Regal Rexnord Co. will post 10.05 earnings per share for the current year.

Regal Rexnord Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.87%. Regal Rexnord’s payout ratio is -160.92%.

Insider Activity at Regal Rexnord

In related news, EVP Jerrald R. Morton sold 2,992 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $154.34, for a total value of $461,785.28. Following the completion of the sale, the executive vice president now owns 15,884 shares in the company, valued at $2,451,536.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Regal Rexnord news, EVP Thomas E. Valentyn sold 647 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $169.70, for a total transaction of $109,795.90. Following the completion of the sale, the executive vice president now owns 28,412 shares in the company, valued at $4,821,516.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Jerrald R. Morton sold 2,992 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $154.34, for a total value of $461,785.28. Following the sale, the executive vice president now owns 15,884 shares of the company’s stock, valued at approximately $2,451,536.56. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,570 shares of company stock worth $892,301. Company insiders own 0.82% 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.