Auxano Advisors LLC Invests $829,000 in Regal Rexnord Co. (NYSE:RRX)

Auxano Advisors LLC bought a new stake in Regal Rexnord Co. (NYSE:RRX - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,599 shares of the company's stock, valued at approximately $829,000.

A number of other institutional investors also recently modified their holdings of RRX. Allspring Global Investments Holdings LLC raised its position in Regal Rexnord by 80.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 509,265 shares of the company's stock worth $75,382,000 after purchasing an additional 226,435 shares during the last quarter. WCM Investment Management LLC grew its holdings in Regal Rexnord by 56.8% during the 4th quarter. WCM Investment Management LLC now owns 144,139 shares of the company's stock worth $21,549,000 after acquiring an additional 52,214 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Regal Rexnord by 13.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 354,484 shares of the company's stock worth $50,649,000 after acquiring an additional 42,110 shares during the period. O Shaughnessy Asset Management LLC grew its holdings in Regal Rexnord by 7.1% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 3,834 shares of the company's stock worth $548,000 after acquiring an additional 253 shares during the period. Finally, UBS Group AG grew its holdings in Regal Rexnord by 58.8% during the 3rd quarter. UBS Group AG now owns 90,990 shares of the company's stock worth $13,001,000 after acquiring an additional 33,689 shares during the period. Institutional investors own 99.72% of the company's stock.

Insider Activity

In other Regal Rexnord news, EVP Jerrald R. Morton sold 2,992 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $154.34, for a total value of $461,785.28. Following the transaction, the executive vice president now directly owns 15,884 shares of the company's stock, valued at approximately $2,451,536.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Regal Rexnord news, EVP Jerrald R. Morton sold 2,992 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $154.34, for a total value of $461,785.28. Following the transaction, the executive vice president now directly owns 15,884 shares of the company's stock, valued at approximately $2,451,536.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Thomas E. Valentyn sold 647 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $169.70, for a total transaction of $109,795.90. Following the completion of the transaction, the executive vice president now directly owns 28,412 shares in the company, valued at $4,821,516.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,570 shares of company stock valued at $892,301. 0.82% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have commented on RRX. KeyCorp lifted their target price on shares of Regal Rexnord from $180.00 to $210.00 and gave the stock an "overweight" rating in a report on Monday, March 25th. Barclays boosted their price target on shares of Regal Rexnord from $200.00 to $203.00 and gave the company an "overweight" rating in a report on Tuesday, April 2nd. Finally, Oppenheimer boosted their price target on shares of Regal Rexnord from $185.00 to $210.00 and gave the company an "outperform" rating in a report on Wednesday, March 13th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $197.00.

Regal Rexnord Stock Down 2.9 %

NYSE RRX traded down $4.90 on Tuesday, reaching $161.37. The company had a trading volume of 419,617 shares, compared to its average volume of 456,378. The company's fifty day moving average is $170.08 and its 200-day moving average is $145.36. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.59 and a current ratio of 2.55. Regal Rexnord Co. has a 1-year low of $97.18 and a 1-year high of $183.85. The firm has a market capitalization of $10.73 billion, a price-to-earnings ratio of -185.48, a price-to-earnings-growth ratio of 1.63 and a beta of 1.14.

Regal Rexnord (NYSE:RRX - Get Free Report) last issued its 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. The company had revenue of $1.61 billion for the quarter, compared to analysts' expectations of $1.63 billion. Regal Rexnord had a negative net margin of 0.92% and a positive return on equity of 9.58%. Regal Rexnord's quarterly revenue was up 29.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.64 EPS. On average, research analysts forecast that Regal Rexnord Co. will post 10.05 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

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

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.