Roubaix Capital LLC Cuts Stock Position in Regal Rexnord Corporation $RRX

Roubaix Capital LLC cut its holdings in Regal Rexnord Corporation (NYSE:RRX) by 11.9% in the first quarter, Holdings Channel.com reports. The fund owned 37,739 shares of the company’s stock after selling 5,097 shares during the quarter. Regal Rexnord makes up about 3.3% of Roubaix Capital LLC’s investment portfolio, making the stock its 5th largest position. Roubaix Capital LLC’s holdings in Regal Rexnord were worth $7,067,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Covestor Ltd increased its stake in shares of Regal Rexnord by 81.6% during the 4th quarter. Covestor Ltd now owns 178 shares of the company’s stock worth $25,000 after purchasing an additional 80 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of Regal Rexnord by 135.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock valued at $25,000 after purchasing an additional 127 shares during the last quarter. Garner Asset Management Corp acquired a new stake in shares of Regal Rexnord in the 4th quarter valued at $27,000. IFP Advisors Inc lifted its stake in shares of Regal Rexnord by 34.0% in the 4th quarter. IFP Advisors Inc now owns 193 shares of the company’s stock valued at $27,000 after purchasing an additional 49 shares during the last quarter. Finally, Advisory Services Network LLC bought a new stake in Regal Rexnord in the third quarter worth $35,000. 99.72% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on RRX. Oppenheimer restated an “outperform” rating on shares of Regal Rexnord in a report on Friday, July 10th. Barclays raised their price objective on Regal Rexnord from $237.00 to $245.00 and gave the company an “overweight” rating in a research note on Monday, March 23rd. KeyCorp boosted their target price on Regal Rexnord from $255.00 to $265.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Regal Rexnord in a research report on Tuesday, April 21st. Finally, DA Davidson started coverage on Regal Rexnord in a report on Tuesday, June 16th. They set a “buy” rating and a $260.00 price target on the stock. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $243.45.

Insider Buying and Selling at Regal Rexnord

In other news, Director Robin A. Walker-Lee sold 1,297 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $213.85, for a total transaction of $277,363.45. Following the completion of the transaction, the director directly owned 5,503 shares in the company, valued at $1,176,816.55. The trade was a 19.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Louis V. Pinkham sold 22,509 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $211.68, for a total value of $4,764,705.12. Following the completion of the sale, the chief executive officer directly owned 56,749 shares of the company’s stock, valued at $12,012,628.32. This represents a 28.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 30,305 shares of company stock valued at $6,341,869 in the last 90 days. 0.63% of the stock is currently owned by insiders.

Regal Rexnord Stock Down 2.2%

Regal Rexnord stock opened at $207.29 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.17 and a quick ratio of 1.08. Regal Rexnord Corporation has a fifty-two week low of $127.96 and a fifty-two week high of $247.80. The firm has a fifty day moving average price of $211.75 and a two-hundred day moving average price of $197.27. The firm has a market cap of $13.80 billion, a price-to-earnings ratio of 48.21, a P/E/G ratio of 1.94 and a beta of 1.08.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings results on Thursday, May 7th. The company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.11 by $0.06. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.43 billion. Regal Rexnord had a return on equity of 9.49% and a net margin of 4.78%.The firm’s revenue was up 4.3% compared to the same quarter last year. During the same period last year, the business posted $2.15 earnings per share. As a group, analysts forecast that Regal Rexnord Corporation will post 10.64 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 14th. Investors of record on Tuesday, June 30th were paid a dividend of $0.35 per share. The ex-dividend date was Tuesday, June 30th. This represents a $1.40 annualized dividend and a yield of 0.7%. Regal Rexnord’s dividend payout ratio is presently 32.56%.

Regal Rexnord Company Profile

Regal Rexnord Corporation (NYSE: RRX) is a global industrial manufacturer specializing in electric motors, power generation equipment and automated motion control systems. The company designs, engineers and produces a broad portfolio of products that includes energy-efficient electric motors, variable frequency drives, gearboxes, couplings, bearings and power transmission components. These offerings support critical applications in industries such as heating, ventilation and air conditioning (HVAC), refrigeration, data centers, water treatment, food and beverage processing, mining, oil and gas, and material handling.

The company’s operations are organized into multiple business segments that address distinct customer needs.