Auxano Advisors LLC Makes New Investment in Regal Rexnord Co. (NYSE:RRX)

Auxano Advisors LLC purchased a new position in shares of Regal Rexnord Co. (NYSE:RRX) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 5,599 shares of the company’s stock, valued at approximately $829,000.

A number of other large investors have also recently bought and sold shares of RRX. Commonwealth Equity Services LLC grew its holdings in Regal Rexnord by 3.7% during the 3rd quarter. Commonwealth Equity Services LLC now owns 3,277 shares of the company’s stock worth $468,000 after acquiring an additional 118 shares during the period. Raymond James & Associates boosted its position in shares of Regal Rexnord by 4.0% during the 3rd quarter. Raymond James & Associates now owns 76,861 shares of the company’s stock worth $10,982,000 after purchasing an additional 2,978 shares in the last quarter. Ceredex Value Advisors LLC bought a new position in shares of Regal Rexnord during the 3rd quarter worth about $31,195,000. Bank of New York Mellon Corp boosted its position in shares of Regal Rexnord by 2.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 657,959 shares of the company’s stock worth $94,009,000 after purchasing an additional 17,810 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Regal Rexnord by 17.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,083 shares of the company’s stock worth $1,869,000 after purchasing an additional 1,957 shares in the last quarter. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Regal Rexnord

In related news, EVP Thomas E. Valentyn sold 1,931 shares of Regal Rexnord stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $166.09, for a total value of $320,719.79. Following the completion of the transaction, the executive vice president now directly owns 27,180 shares in the company, valued at approximately $4,514,326.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Thomas E. Valentyn sold 1,931 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $166.09, for a total transaction of $320,719.79. Following the completion of the transaction, the executive vice president now directly owns 27,180 shares in the company, valued at approximately $4,514,326.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Thomas E. Valentyn sold 647 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $169.70, for a total transaction of $109,795.90. Following the transaction, the executive vice president now owns 28,412 shares of the company’s stock, valued at $4,821,516.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,570 shares of company stock worth $892,301. Corporate insiders own 0.82% of the company’s stock.

Regal Rexnord Trading Down 2.9 %

Shares of Regal Rexnord stock traded down $4.90 during mid-day trading on Tuesday, hitting $161.37. 419,673 shares of the stock were exchanged, compared to its average volume of 455,984. Regal Rexnord Co. has a 12 month low of $97.18 and a 12 month high of $183.85. The company has a 50-day simple moving average of $170.03 and a 200 day simple moving average of $145.14. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.55 and a quick ratio of 1.59.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.02. Regal Rexnord had a negative net margin of 0.92% and a positive return on equity of 9.58%. The company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same quarter last year, the business posted $2.64 EPS. Regal Rexnord’s quarterly revenue was up 29.2% compared to the same quarter last year. On average, sell-side analysts forecast that Regal Rexnord Co. will post 10.05 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be paid a $0.35 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.40 dividend on an annualized basis and a yield of 0.87%. Regal Rexnord’s dividend payout ratio is -160.92%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on RRX shares. Barclays raised their price target on shares of Regal Rexnord from $200.00 to $203.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. KeyCorp raised their price target on shares of Regal Rexnord from $180.00 to $210.00 and gave the company an “overweight” rating in a research report on Monday, March 25th. Finally, Oppenheimer raised their price target on shares of Regal Rexnord from $185.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, March 13th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $197.00.

About Regal Rexnord

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.