Oak Thistle LLC Sells 1,628 Shares of Regal Rexnord Co. (NYSE:RRX)

Oak Thistle LLC cut its stake in Regal Rexnord Co. (NYSE:RRX) by 50.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor 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 quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. UMB Bank n.a. grew its holdings in Regal Rexnord by 72.5% during the 3rd quarter. UMB Bank n.a. now owns 345 shares of the company’s stock valued at $57,000 after buying an additional 145 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Regal Rexnord by 30.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company’s stock worth $71,000 after buying an additional 100 shares in the last quarter. 1620 Investment Advisors Inc. boosted its position in shares of Regal Rexnord by 17.4% in the third quarter. 1620 Investment Advisors Inc. now owns 452 shares of the company’s stock valued at $75,000 after acquiring an additional 67 shares during the period. Quarry LP grew its stake in Regal Rexnord by 752.9% during the second quarter. Quarry LP now owns 870 shares of the company’s stock valued at $118,000 after acquiring an additional 768 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in Regal Rexnord by 30.0% during the 3rd quarter. GAMMA Investing LLC now owns 841 shares of the company’s stock worth $140,000 after acquiring an additional 194 shares during the period. 99.72% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Louis V. Pinkham sold 8,774 shares of the company’s stock in a transaction 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 in the company, valued at $26,935,728.54. This represents a 5.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.82% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Citigroup cut their price target on shares of Regal Rexnord from $210.00 to $190.00 and set a “buy” rating for the company in a report on Tuesday. Jefferies Financial Group started coverage on Regal Rexnord in a research report on Thursday, December 12th. They set a “buy” rating and a $215.00 target price for the company. Barclays lowered their price target on Regal Rexnord from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. StockNews.com lowered Regal Rexnord from a “strong-buy” rating to a “buy” rating in a report on Thursday. Finally, The Goldman Sachs Group upped their price objective on shares of Regal Rexnord from $191.00 to $213.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. 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 currently has a consensus rating of “Moderate Buy” and a consensus target price of $202.00.

Regal Rexnord Stock Performance

NYSE:RRX opened at $156.41 on Friday. The company has a market capitalization of $10.36 billion, a price-to-earnings ratio of 49.34, a PEG ratio of 1.44 and a beta of 1.04. The business has a 50 day moving average of $164.43 and a 200 day moving average of $161.27. 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 Co. has a 1-year low of $130.94 and a 1-year high of $185.28.

Regal Rexnord (NYSE:RRX) last announced 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. Regal Rexnord had a net margin of 3.41% and a return on equity of 9.48%. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same period in the previous year, the business posted $2.10 EPS. The business’s quarterly revenue was down 10.4% on a year-over-year basis. On average, sell-side analysts predict that Regal Rexnord Co. will post 9.24 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

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

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.