Tidal Investments LLC Grows Holdings in Regal Rexnord Co. (NYSE:RRX)

Tidal Investments LLC lifted its position in shares of Regal Rexnord Co. (NYSE:RRX) by 4.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,605 shares of the company’s stock after buying an additional 347 shares during the quarter. Tidal Investments LLC’s holdings in Regal Rexnord were worth $1,262,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. SG Americas Securities LLC grew its stake in Regal Rexnord by 418.5% in the 2nd quarter. SG Americas Securities LLC now owns 3,132 shares of the company’s stock worth $424,000 after acquiring an additional 2,528 shares during the period. Raymond James & Associates grew its position in shares of Regal Rexnord by 4.6% in the second quarter. Raymond James & Associates now owns 114,948 shares of the company’s stock valued at $15,543,000 after purchasing an additional 5,056 shares during the period. Fifth Third Wealth Advisors LLC acquired a new position in Regal Rexnord in the second quarter valued at $290,000. 1620 Investment Advisors Inc. purchased a new position in Regal Rexnord during the second quarter worth about $52,000. Finally, Ceredex Value Advisors LLC boosted its stake in Regal Rexnord by 30.0% in the 2nd quarter. Ceredex Value Advisors LLC now owns 243,375 shares of the company’s stock worth $32,994,000 after buying an additional 56,175 shares during the last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.

Regal Rexnord Trading Down 3.7 %

NYSE:RRX opened at $156.53 on Thursday. Regal Rexnord Co. has a 12 month low of $130.94 and a 12 month high of $185.28. The business’s 50-day moving average is $171.66 and its two-hundred day moving average is $159.04. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.45 and a quick ratio of 1.35. The firm has a market capitalization of $10.37 billion, a PE ratio of 49.38, a price-to-earnings-growth ratio of 1.83 and a beta of 1.03.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings results on Monday, November 4th. The company reported $2.49 EPS for the quarter, topping the consensus estimate of $2.48 by $0.01. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.53 billion. Regal Rexnord had a return on equity of 9.48% and a net margin of 3.41%. Regal Rexnord’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.10 EPS. Research analysts predict that Regal Rexnord Co. will post 9.24 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.89%. The ex-dividend date is Tuesday, December 31st. Regal Rexnord’s dividend payout ratio (DPR) is 44.16%.

Insiders Place Their Bets

In other news, CEO Louis V. Pinkham sold 8,774 shares of Regal Rexnord stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $180.03, for a total transaction of $1,579,583.22. Following the sale, the chief executive officer now directly owns 149,618 shares of the company’s stock, valued at approximately $26,935,728.54. The trade was a 5.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.82% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on RRX shares. Citigroup initiated coverage on shares of Regal Rexnord in a report on Monday, October 14th. They set a “buy” rating and a $200.00 price objective on the stock. Jefferies Financial Group started coverage on shares of Regal Rexnord in a report on Thursday, December 12th. They issued a “buy” rating and a $215.00 price target on the stock. StockNews.com raised shares of Regal Rexnord from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th. Robert W. Baird cut their target price on Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Finally, Loop Capital reissued a “buy” rating and set a $200.00 price target on shares of Regal Rexnord in a research report on Thursday, September 19th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $205.13.

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.