Tandem Capital Management Corp ADV Decreases Stake in Regal Rexnord Co. (NYSE:RRX)

Tandem Capital Management Corp ADV decreased its holdings in shares of Regal Rexnord Co. (NYSE:RRX) by 1.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,305 shares of the company’s stock after selling 174 shares during the quarter. Regal Rexnord comprises approximately 1.2% of Tandem Capital Management Corp ADV’s portfolio, making the stock its 27th biggest holding. Tandem Capital Management Corp ADV’s holdings in Regal Rexnord were worth $1,969,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in RRX. National Bank of Canada FI grew its stake in shares of Regal Rexnord by 12.6% during the third quarter. National Bank of Canada FI now owns 6,792 shares of the company’s stock valued at $954,000 after buying an additional 759 shares during the last quarter. IFP Advisors Inc increased its position in shares of Regal Rexnord by 12.8% in the third quarter. IFP Advisors Inc now owns 1,297 shares of the company’s stock valued at $185,000 after acquiring an additional 147 shares during the period. Global Retirement Partners LLC raised its stake in shares of Regal Rexnord by 18.5% during the third quarter. Global Retirement Partners LLC now owns 493 shares of the company’s stock valued at $68,000 after acquiring an additional 77 shares during the last quarter. Oak Thistle LLC purchased a new stake in shares of Regal Rexnord during the third quarter worth about $495,000. Finally, Commonwealth Equity Services LLC grew its stake in shares of Regal Rexnord by 3.7% in the third quarter. Commonwealth Equity Services LLC now owns 3,277 shares of the company’s stock worth $468,000 after purchasing an additional 118 shares during the last quarter. Institutional investors own 99.72% of the company’s stock.

Regal Rexnord Stock Down 1.4 %

Shares of RRX traded down $2.26 during mid-day trading on Thursday, reaching $161.97. The company had a trading volume of 357,825 shares, compared to its average volume of 460,198. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.59 and a current ratio of 2.55. The firm has a 50-day moving average price of $169.79 and a 200 day moving average price of $144.48. Regal Rexnord Co. has a 52 week low of $97.18 and a 52 week high of $183.85. The company has a market capitalization of $10.76 billion, a price-to-earnings ratio of -188.95, a price-to-earnings-growth ratio of 1.66 and a beta of 1.14.

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

Regal Rexnord Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.40 annualized dividend and a yield of 0.86%. Regal Rexnord’s dividend payout ratio (DPR) is presently -160.92%.

Analyst Ratings Changes

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

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 stock was sold at an average price of $166.09, for a total transaction of $320,719.79. Following the sale, the executive vice president now owns 27,180 shares of the company’s stock, valued at approximately $4,514,326.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Regal Rexnord news, EVP Thomas E. Valentyn sold 647 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $169.70, for a total value of $109,795.90. Following the transaction, the executive vice president now owns 28,412 shares of the company’s stock, valued at approximately $4,821,516.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Thomas E. Valentyn sold 1,931 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $166.09, for a total transaction of $320,719.79. Following the transaction, the executive vice president now directly owns 27,180 shares in the company, valued at $4,514,326.20. 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. 0.82% of the stock is owned by company insiders.

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.