Regal Rexnord Co. (NYSE:RRX) Position Lifted by Forest Avenue Capital Management LP

Forest Avenue Capital Management LP raised its position in Regal Rexnord Co. (NYSE:RRX) by 0.0% in the third quarter, Holdings Channel.com reports. The institutional investor owned 262,982 shares of the company’s stock after purchasing an additional 72 shares during the period. Regal Rexnord comprises approximately 5.3% of Forest Avenue Capital Management LP’s holdings, making the stock its 7th largest position. Forest Avenue Capital Management LP’s holdings in Regal Rexnord were worth $43,623,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Headlands Technologies LLC acquired a new position in shares of Regal Rexnord in the 2nd quarter valued at $46,000. UMB Bank n.a. grew its position in Regal Rexnord by 72.5% during the 3rd quarter. UMB Bank n.a. now owns 345 shares of the company’s stock worth $57,000 after purchasing an additional 145 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new position in Regal Rexnord in the second quarter valued at $52,000. GAMMA Investing LLC raised its holdings in shares of Regal Rexnord by 13.9% in the second quarter. GAMMA Investing LLC now owns 647 shares of the company’s stock valued at $87,000 after buying an additional 79 shares during the last quarter. Finally, CWM LLC boosted its stake in shares of Regal Rexnord by 25.4% during the second quarter. CWM LLC now owns 825 shares of the company’s stock worth $112,000 after buying an additional 167 shares during the period. 99.72% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Louis V. Pinkham sold 8,774 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $180.03, for a total value of $1,579,583.22. Following the completion of the transaction, the chief executive officer now owns 149,618 shares in the company, valued at $26,935,728.54. This trade represents a 5.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.82% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on RRX shares. StockNews.com upgraded Regal Rexnord from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th. Loop Capital reissued a “buy” rating and issued a $200.00 target price on shares of Regal Rexnord in a report on Thursday, September 19th. Citigroup assumed coverage on Regal Rexnord in a report on Monday, October 14th. They set a “buy” rating and a $200.00 price target for the company. Barclays lifted their price objective on shares of Regal Rexnord from $180.00 to $190.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Finally, The Goldman Sachs Group upped their price objective on shares of Regal Rexnord from $176.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $193.00.

Regal Rexnord Price Performance

Regal Rexnord stock opened at $171.89 on Wednesday. The company has a market cap of $11.38 billion, a P/E ratio of 54.22, a price-to-earnings-growth ratio of 1.97 and a beta of 1.04. Regal Rexnord Co. has a one year low of $113.79 and a one year high of $185.28. The business has a fifty day moving average of $170.79 and a two-hundred day moving average of $157.43. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.35 and a current ratio of 2.45.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings data on Monday, November 4th. The company reported $2.49 EPS 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 for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the previous year, the firm earned $2.10 earnings per share. The firm’s revenue was down 10.4% on a year-over-year basis. As a group, analysts predict that Regal Rexnord Co. will post 9.25 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 14th. Investors 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 0.81%. Regal Rexnord’s dividend payout ratio is presently 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.