Dockside LLC Takes Position in Regal Rexnord Corporation $RRX

Dockside LLC purchased a new stake in shares of Regal Rexnord Corporation (NYSE:RRX) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 4,974 shares of the company’s stock, valued at approximately $698,000.

Several other large investors have also recently modified their holdings of RRX. AQR Capital Management LLC raised its stake in Regal Rexnord by 208.1% during the first quarter. AQR Capital Management LLC now owns 17,747 shares of the company’s stock worth $2,011,000 after buying an additional 11,987 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in Regal Rexnord by 91.6% in the first quarter. Jones Financial Companies Lllp now owns 617 shares of the company’s stock valued at $70,000 after buying an additional 295 shares during the period. Geneos Wealth Management Inc. lifted its holdings in Regal Rexnord by 135.1% in the first quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock valued at $25,000 after buying an additional 127 shares during the period. Cetera Investment Advisers lifted its holdings in Regal Rexnord by 6.7% in the second quarter. Cetera Investment Advisers now owns 3,116 shares of the company’s stock valued at $452,000 after buying an additional 196 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new position in Regal Rexnord in the second quarter valued at $4,759,000. Institutional investors own 99.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on RRX shares. Citigroup boosted their target price on shares of Regal Rexnord from $230.00 to $240.00 and gave the company a “buy” rating in a report on Monday, April 13th. Barclays boosted their target price on shares of Regal Rexnord from $237.00 to $245.00 and gave the company an “overweight” rating in a report on Monday, March 23rd. Wall Street Zen lowered shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a report on Tuesday, April 28th. Weiss Ratings restated a “hold (c)” rating on shares of Regal Rexnord in a report on Tuesday, April 21st. Finally, JPMorgan Chase & Co. boosted their target price on shares of Regal Rexnord from $230.00 to $240.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Regal Rexnord currently has an average rating of “Moderate Buy” and a consensus target price of $232.25.

Insider Activity

In other news, Director Robin A. Walker-Lee sold 1,297 shares of Regal Rexnord stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $213.85, for a total transaction of $277,363.45. Following the completion of the transaction, the director directly owned 5,503 shares in the company, valued at $1,176,816.55. This trade represents a 19.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Louis V. Pinkham sold 22,509 shares of Regal Rexnord stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $211.68, for a total transaction of $4,764,705.12. Following the transaction, the chief executive officer owned 56,749 shares of the company’s stock, valued at $12,012,628.32. This represents a 28.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 30,305 shares of company stock worth $6,341,869 over the last three months. 0.63% of the stock is currently owned by insiders.

Regal Rexnord Trading Up 0.1%

NYSE:RRX opened at $212.51 on Monday. The company has a current ratio of 2.17, a quick ratio of 1.08 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $14.15 billion, a price-to-earnings ratio of 49.42, a PEG ratio of 2.00 and a beta of 1.11. The firm has a fifty day simple moving average of $205.28 and a two-hundred day simple moving average of $184.69. Regal Rexnord Corporation has a 12 month low of $127.96 and a 12 month high of $236.35.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings results on Thursday, May 7th. The company reported $2.17 EPS for the quarter, topping analysts’ consensus estimates of $2.11 by $0.06. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Regal Rexnord had a net margin of 4.78% and a return on equity of 9.49%. The business’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period last year, the company posted $2.15 earnings per share. Analysts expect that Regal Rexnord Corporation will post 10.63 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Tuesday, June 30th. Regal Rexnord’s dividend payout ratio (DPR) is currently 32.56%.

Regal Rexnord Company Profile

Regal Rexnord Corporation (NYSE: RRX) is a global industrial manufacturer specializing in electric motors, power generation equipment and automated motion control systems. The company designs, engineers and produces a broad portfolio of products that includes energy-efficient electric motors, variable frequency drives, gearboxes, couplings, bearings and power transmission components. These offerings support critical applications in industries such as heating, ventilation and air conditioning (HVAC), refrigeration, data centers, water treatment, food and beverage processing, mining, oil and gas, and material handling.

The company’s operations are organized into multiple business segments that address distinct customer needs.