PDT Partners LLC Has $1.63 Million Holdings in Regal Rexnord Co. (NYSE:RRX)

PDT Partners LLC decreased its holdings in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) by 56.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,842 shares of the company's stock after selling 12,856 shares during the quarter. PDT Partners LLC's holdings in Regal Rexnord were worth $1,633,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its position in shares of Regal Rexnord by 5.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 38,969 shares of the company's stock worth $7,019,000 after purchasing an additional 2,101 shares in the last quarter. Tidal Investments LLC boosted its stake in Regal Rexnord by 20.2% during the 1st quarter. Tidal Investments LLC now owns 1,876 shares of the company's stock valued at $338,000 after acquiring an additional 315 shares during the last quarter. GAMMA Investing LLC increased its holdings in Regal Rexnord by 13.9% in the second quarter. GAMMA Investing LLC now owns 647 shares of the company's stock valued at $87,000 after buying an additional 79 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new stake in Regal Rexnord during the second quarter valued at approximately $1,173,000. Finally, CWM LLC grew its position in shares of Regal Rexnord by 25.4% in the 2nd quarter. CWM LLC now owns 825 shares of the company's stock worth $112,000 after acquiring an additional 167 shares in the last quarter. 99.72% of the stock is owned by hedge funds and other institutional investors.

Regal Rexnord Stock Performance

Shares of RRX traded up $1.91 during trading hours on Monday, reaching $174.62. 411,775 shares of the company's stock traded hands, compared to its average volume of 455,191. The firm has a market capitalization of $11.56 billion, a price-to-earnings ratio of 55.09, a P/E/G ratio of 1.87 and a beta of 1.04. The business's fifty day simple moving average is $170.97 and its two-hundred day simple moving average is $157.68. Regal Rexnord Co. has a twelve month low of $122.49 and a twelve month high of $185.28. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.45 and a quick ratio of 1.35.

Regal Rexnord (NYSE:RRX - Get Free Report) last issued its quarterly earnings results 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. Regal Rexnord had a net margin of 3.41% and a return on equity of 9.48%. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same period in the prior year, the business posted $2.10 EPS. The business's revenue for the quarter was down 10.4% compared to the same quarter last year. Analysts predict that Regal Rexnord Co. will post 9.25 earnings per share for the current year.

Regal Rexnord Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date of this dividend is Tuesday, December 31st. Regal Rexnord's dividend payout ratio is presently 44.16%.

Insider Activity at Regal Rexnord

In related news, CEO Louis V. Pinkham sold 8,774 shares of the stock in a transaction that occurred on 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 directly owns 149,618 shares of the company's stock, valued at $26,935,728.54. This represents a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.82% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on RRX shares. Barclays raised their price objective on Regal Rexnord from $180.00 to $190.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 2nd. StockNews.com raised shares of Regal Rexnord from a "hold" rating to a "buy" rating in a report on Wednesday, October 16th. Robert W. Baird dropped their price objective on shares of Regal Rexnord from $223.00 to $208.00 and set an "outperform" rating on the stock in a research note on Wednesday, November 6th. Loop Capital restated a "buy" rating and issued a $200.00 target price on shares of Regal Rexnord in a research note on Thursday, September 19th. Finally, Citigroup started coverage on Regal Rexnord in a research report on Monday, October 14th. They set a "buy" rating and a $200.00 price target on the stock. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Regal Rexnord has an average rating of "Moderate Buy" and an average price target of $193.00.

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.