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

Roubaix Capital LLC reduced its stake in Regal Rexnord Co. (NYSE:RRX) by 44.5% during the 3rd quarter, HoldingsChannel.com reports. The fund 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 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Headlands Technologies LLC purchased a new stake in Regal Rexnord during the second quarter worth about $46,000. 1620 Investment Advisors Inc. acquired a new stake in Regal Rexnord during the 2nd quarter worth approximately $52,000. UMB Bank n.a. boosted its position in Regal Rexnord by 72.5% in the 3rd quarter. UMB Bank n.a. now owns 345 shares of the company’s stock valued at $57,000 after buying an additional 145 shares during the period. EntryPoint Capital LLC acquired a new position in shares of Regal Rexnord in the first quarter worth $68,000. Finally, GAMMA Investing LLC increased its position in shares of Regal Rexnord by 13.9% during the second quarter. GAMMA Investing LLC now owns 647 shares of the company’s stock worth $87,000 after acquiring an additional 79 shares during the period. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Regal Rexnord Stock Performance

Shares of Regal Rexnord stock opened at $169.05 on Thursday. The stock has a market capitalization of $11.25 billion, a price-to-earnings ratio of -8,519.50, a PEG ratio of 1.76 and a beta of 1.04. The firm’s fifty day simple moving average is $164.80 and its 200-day simple moving average is $155.89. 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 12 month low of $97.18 and a 12 month high of $183.85.

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

Regal Rexnord Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.35 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.83%. Regal Rexnord’s dividend payout ratio (DPR) is -7,000.00%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on RRX shares. StockNews.com upgraded Regal Rexnord from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th. Loop Capital restated a “buy” rating and issued a $200.00 price target on shares of Regal Rexnord in a research note on Thursday, September 19th. Citigroup assumed coverage on Regal Rexnord in a report on Monday, October 14th. They issued a “buy” rating and a $200.00 price objective on the stock. KeyCorp decreased their target price on Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Finally, The Goldman Sachs Group increased their price target on shares of Regal Rexnord from $176.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Regal Rexnord presently has a consensus rating of “Moderate Buy” and a consensus target price of $193.63.

Regal Rexnord 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.