OneDigital Investment Advisors LLC Buys New Shares in Regal Rexnord Co. (NYSE:RRX)

OneDigital Investment Advisors LLC purchased a new stake in Regal Rexnord Co. (NYSE:RRX) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,262 shares of the company’s stock, valued at approximately $209,000.

A number of other institutional investors and hedge funds also recently modified their holdings of RRX. Hengehold Capital Management LLC boosted its holdings in shares of Regal Rexnord by 1.5% in the third quarter. Hengehold Capital Management LLC now owns 4,315 shares of the company’s stock worth $716,000 after buying an additional 65 shares during the period. 1620 Investment Advisors Inc. raised its stake in Regal Rexnord by 17.4% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 452 shares of the company’s stock valued at $75,000 after purchasing an additional 67 shares during the period. GAMMA Investing LLC boosted its position in shares of 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 buying an additional 79 shares during the period. Nisa Investment Advisors LLC grew its holdings in shares of Regal Rexnord by 2.7% during the third quarter. Nisa Investment Advisors LLC now owns 3,616 shares of the company’s stock valued at $601,000 after buying an additional 95 shares in the last quarter. Finally, Industrial Alliance Investment Management Inc. lifted its stake in Regal Rexnord by 4.4% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 2,697 shares of the company’s stock worth $486,000 after acquiring an additional 113 shares in the last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.

Regal Rexnord Stock Up 2.1 %

RRX stock opened at $177.37 on Friday. The company has a current ratio of 2.45, a quick ratio of 1.35 and a debt-to-equity ratio of 0.87. The firm has a market cap of $11.75 billion, a PE ratio of 55.95, a PEG ratio of 1.88 and a beta of 1.04. Regal Rexnord Co. has a 1 year low of $113.79 and a 1 year high of $185.28. The company has a fifty day simple moving average of $170.10 and a 200 day simple moving average of $157.21.

Regal Rexnord (NYSE:RRX) last released its quarterly 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. Regal Rexnord had a return on equity of 9.48% and a net margin of 3.41%. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the prior year, the company posted $2.10 EPS. The firm’s revenue was down 10.4% on a year-over-year basis. Sell-side analysts anticipate that Regal Rexnord Co. will post 9.25 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.40 annualized dividend and a yield of 0.79%. Regal Rexnord’s dividend payout ratio (DPR) is presently 44.16%.

Insider Activity

In related news, CEO Louis V. Pinkham sold 8,774 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 149,618 shares in the company, valued at approximately $26,935,728.54. This trade represents a 5.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

RRX has been the topic of several research analyst reports. StockNews.com raised Regal Rexnord from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group upped their price objective on shares of Regal Rexnord from $176.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Robert W. Baird decreased their target price on shares of Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Loop Capital restated a “buy” rating and set a $200.00 price target on shares of Regal Rexnord in a report on Thursday, September 19th. Finally, Citigroup began coverage on Regal Rexnord in a report on Monday, October 14th. They set a “buy” rating and a $200.00 price objective for the company. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $193.00.

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.