Roubaix Capital LLC Sells 11,270 Shares of Regal Rexnord Co. (NYSE:RRX)

Roubaix Capital LLC cut its stake in Regal Rexnord Co. (NYSE:RRX - Free Report) by 44.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,054 shares of the company's stock after selling 11,270 shares during the period. Roubaix Capital LLC's holdings in Regal Rexnord were worth $2,331,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its holdings in shares of Regal Rexnord by 42.7% during the 2nd quarter. Victory Capital Management Inc. now owns 1,884,575 shares of the company's stock worth $254,832,000 after buying an additional 563,853 shares in the last quarter. Capital World Investors boosted its holdings in shares of Regal Rexnord by 4.7% during the 1st quarter. Capital World Investors now owns 6,599,752 shares of the company's stock worth $1,188,615,000 after buying an additional 296,941 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Regal Rexnord by 24.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,125,445 shares of the company's stock worth $152,183,000 after buying an additional 222,775 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its holdings in shares of Regal Rexnord by 7.1% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 3,181,886 shares of the company's stock worth $430,255,000 after buying an additional 209,776 shares in the last quarter. Finally, TimesSquare Capital Management LLC boosted its holdings in shares of Regal Rexnord by 64.4% during the 1st quarter. TimesSquare Capital Management LLC now owns 466,475 shares of the company's stock worth $84,012,000 after buying an additional 182,770 shares in the last quarter. 99.72% of the stock is currently owned by institutional investors.

Regal Rexnord Stock Performance

NYSE:RRX traded down $2.51 during trading on Thursday, reaching $166.54. The company's stock had a trading volume of 401,655 shares, compared to its average volume of 445,639. The firm has a market cap of $11.08 billion, a price-to-earnings ratio of -8,389.00, a price-to-earnings-growth ratio of 1.76 and a beta of 1.04. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.38 and a current ratio of 2.45. The firm has a 50 day moving average of $164.97 and a 200-day moving average of $155.99. Regal Rexnord Co. has a 12 month low of $97.18 and a 12 month high of $183.85.

Regal Rexnord (NYSE:RRX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $2.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business's revenue for the quarter was down 12.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.56 EPS. Research analysts expect that Regal Rexnord Co. will post 9.48 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

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 annualized dividend and a dividend yield of 0.84%. Regal Rexnord's payout ratio is -7,000.00%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on RRX. KeyCorp lowered their target price on Regal Rexnord from $210.00 to $190.00 and set an "overweight" rating on the stock in a research report on Monday, July 15th. Robert W. Baird upped their target price on Regal Rexnord from $208.00 to $213.00 and gave the stock an "outperform" rating in a research report on Friday, August 2nd. StockNews.com raised Regal Rexnord from a "hold" rating to a "buy" rating in a research report on Wednesday, October 16th. Loop Capital reaffirmed a "buy" rating and set a $200.00 target price on shares of Regal Rexnord in a research report on Thursday, September 19th. Finally, The Goldman Sachs Group upped their target price on Regal Rexnord from $176.00 to $195.00 and gave the stock a "buy" rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Regal Rexnord presently has an average rating of "Moderate Buy" and an average price target of $193.63.

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.