Avior Wealth Management LLC Increases Holdings in Regal Rexnord Co. (NYSE:RRX)

Avior Wealth Management LLC grew its holdings in Regal Rexnord Co. (NYSE:RRX) by 17.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 3,182 shares of the company’s stock after buying an additional 474 shares during the quarter. Avior Wealth Management LLC’s holdings in Regal Rexnord were worth $528,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Headlands Technologies LLC purchased a new position in shares of Regal Rexnord during the second quarter valued at about $46,000. 1620 Investment Advisors Inc. bought a new position in shares of Regal Rexnord in the 2nd quarter worth approximately $52,000. UMB Bank n.a. lifted its stake in shares of Regal Rexnord by 72.5% in the 3rd quarter. UMB Bank n.a. now owns 345 shares of the company’s stock valued at $57,000 after purchasing an additional 145 shares during the period. EntryPoint Capital LLC bought a new stake in shares of Regal Rexnord during the first quarter valued at approximately $68,000. Finally, GAMMA Investing LLC grew its stake in Regal Rexnord by 13.9% in the second quarter. GAMMA Investing LLC now owns 647 shares of the company’s stock worth $87,000 after purchasing an additional 79 shares during the period. 99.72% of the stock is currently owned by institutional investors.

Regal Rexnord Price Performance

RRX opened at $173.74 on Friday. The company’s 50-day simple moving average is $169.15 and its two-hundred day simple moving average is $157.03. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.35 and a current ratio of 2.45. The stock has a market capitalization of $11.51 billion, a P/E ratio of 54.81, a P/E/G ratio of 1.86 and a beta of 1.04. Regal Rexnord Co. has a 52-week low of $113.79 and a 52-week high of $185.28.

Regal Rexnord (NYSE:RRX) last issued its earnings results on Monday, November 4th. The company reported $2.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.01. The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Regal Rexnord had a net margin of 3.41% and a return on equity of 9.48%. The firm’s quarterly revenue was down 10.4% on a year-over-year basis. During the same quarter last year, the company posted $2.10 earnings per share. As a group, analysts predict that Regal Rexnord Co. will post 9.25 EPS for the current year.

Regal Rexnord Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 0.81%. The ex-dividend date is Tuesday, December 31st. Regal Rexnord’s dividend payout ratio (DPR) is presently 44.16%.

Insider Transactions 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 value 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 approximately $26,935,728.54. This represents a 5.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on RRX shares. The Goldman Sachs Group boosted their target price on shares of Regal Rexnord from $176.00 to $195.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Robert W. Baird cut their price objective on shares of Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Loop Capital reiterated a “buy” rating and set a $200.00 target price on shares of Regal Rexnord in a report on Thursday, September 19th. StockNews.com upgraded Regal Rexnord from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th. Finally, Barclays lifted their price objective on Regal Rexnord from $180.00 to $190.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Regal Rexnord presently has a consensus rating of “Moderate Buy” and an average target price 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.