Oak Thistle LLC Reduces Holdings in Regal Rexnord Co. (NYSE:RRX)

Oak Thistle LLC cut its stake in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) by 50.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,592 shares of the company's stock after selling 1,628 shares during the quarter. Oak Thistle LLC's holdings in Regal Rexnord were worth $247,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. UMB Bank n.a. increased its holdings in Regal Rexnord by 72.5% during the third 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. Nomura Asset Management Co. Ltd. increased its holdings in Regal Rexnord by 30.3% during the third quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company's stock valued at $71,000 after buying an additional 100 shares during the period. 1620 Investment Advisors Inc. grew its holdings in Regal Rexnord by 17.4% in the third quarter. 1620 Investment Advisors Inc. now owns 452 shares of the company's stock worth $75,000 after purchasing an additional 67 shares during the last quarter. Quarry LP grew its holdings in Regal Rexnord by 752.9% in the second quarter. Quarry LP now owns 870 shares of the company's stock worth $118,000 after purchasing an additional 768 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in Regal Rexnord by 30.0% in the third quarter. GAMMA Investing LLC now owns 841 shares of the company's stock worth $140,000 after purchasing an additional 194 shares during the last quarter. 99.72% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Regal Rexnord

In related news, CEO Louis V. Pinkham sold 8,774 shares of the company's stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $180.03, for a total transaction of $1,579,583.22. Following the completion of the sale, the chief executive officer now owns 149,618 shares of the company's stock, valued at approximately $26,935,728.54. This represents a 5.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.82% of the stock is owned by corporate insiders.

Regal Rexnord Price Performance

Shares of Regal Rexnord stock traded down $2.05 during trading hours on Friday, reaching $156.41. The stock had a trading volume of 460,629 shares, compared to its average volume of 397,261. The stock's 50 day moving average is $164.43 and its 200 day moving average is $161.27. The firm has a market capitalization of $10.36 billion, a PE ratio of 49.34, a PEG ratio of 1.44 and a beta of 1.04. Regal Rexnord Co. has a twelve month low of $130.94 and a twelve month high of $185.28. The company has a current ratio of 2.45, a quick ratio of 1.35 and a debt-to-equity ratio of 0.87.

Regal Rexnord (NYSE:RRX - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The company reported $2.49 earnings per share for the quarter, topping analysts' consensus estimates of $2.48 by $0.01. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.53 billion. Regal Rexnord had a net margin of 3.41% and a return on equity of 9.48%. The company's revenue was down 10.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.10 earnings per share. Equities analysts expect that Regal Rexnord Co. will post 9.24 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.35 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.90%. Regal Rexnord's dividend payout ratio is currently 44.16%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on RRX shares. StockNews.com lowered shares of Regal Rexnord from a "strong-buy" rating to a "buy" rating in a report on Thursday. The Goldman Sachs Group lifted their price target on shares of Regal Rexnord from $191.00 to $213.00 and gave the stock a "buy" rating in a report on Thursday, December 12th. Jefferies Financial Group assumed coverage on shares of Regal Rexnord in a report on Thursday, December 12th. They issued a "buy" rating and a $215.00 price target on the stock. Robert W. Baird lowered their price objective on shares of Regal Rexnord from $223.00 to $208.00 and set an "outperform" rating for the company in a research note on Wednesday, November 6th. Finally, Barclays lowered their price objective on shares of Regal Rexnord from $205.00 to $190.00 and set an "overweight" rating for the company in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $202.00.

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.