Regal Rexnord Co. (NYSE:RRX) Shares Sold by Roubaix Capital LLC

Roubaix Capital LLC decreased its holdings in Regal Rexnord Co. (NYSE:RRX) by 44.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,054 shares of the company’s stock after selling 11,270 shares during the quarter. Roubaix Capital LLC’s holdings in Regal Rexnord were worth $2,331,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in RRX. Hengehold Capital Management LLC boosted its holdings in Regal Rexnord by 1.5% in the third quarter. Hengehold Capital Management LLC now owns 4,315 shares of the company’s stock worth $716,000 after acquiring an additional 65 shares in the last quarter. GAMMA Investing LLC increased its stake in Regal Rexnord by 13.9% during the 2nd quarter. GAMMA Investing LLC now owns 647 shares of the company’s stock valued at $87,000 after purchasing an additional 79 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of Regal Rexnord by 2.6% in the first quarter. Oppenheimer Asset Management Inc. now owns 3,808 shares of the company’s stock worth $686,000 after buying an additional 95 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Regal Rexnord by 2.7% during the third quarter. Nisa Investment Advisors LLC now owns 3,616 shares of the company’s stock valued at $601,000 after buying an additional 95 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in Regal Rexnord by 3.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,282 shares of the company’s stock worth $591,000 after acquiring an additional 102 shares during the last quarter. 99.72% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Robert W. Baird raised their price target on shares of Regal Rexnord from $208.00 to $213.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. The Goldman Sachs Group boosted their target price on shares of Regal Rexnord from $176.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Citigroup assumed coverage on Regal Rexnord in a research note on Monday, October 14th. They set a “buy” rating and a $200.00 price objective for the company. StockNews.com upgraded Regal Rexnord from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th. Finally, KeyCorp dropped their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $193.63.

Regal Rexnord Stock Performance

NYSE RRX opened at $169.05 on Thursday. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.45 and a quick ratio of 1.38. Regal Rexnord Co. has a 1-year low of $97.18 and a 1-year high of $183.85. The company has a market cap of $11.25 billion, a PE ratio of -8,519.50, a price-to-earnings-growth ratio of 1.76 and a beta of 1.04. The stock’s 50 day simple moving average is $164.80 and its 200-day simple moving average is $155.89.

Regal Rexnord (NYSE:RRX) last announced its earnings results on Wednesday, July 31st. The company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.15. The company had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.51 billion. Regal Rexnord had a negative net margin of 0.02% and a positive return on equity of 9.16%. The firm’s quarterly revenue was down 12.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.56 EPS. As a group, equities research analysts anticipate that Regal Rexnord Co. will post 9.48 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st will be issued a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.40 dividend on an annualized basis and a yield of 0.83%. Regal Rexnord’s payout ratio is -7,000.00%.

About Regal Rexnord

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.