Fox Run Management L.L.C. Sells 6,494 Shares of Regal Rexnord Corporation $RRX

Fox Run Management L.L.C. decreased its holdings in Regal Rexnord Corporation (NYSE:RRX) by 72.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,460 shares of the company’s stock after selling 6,494 shares during the period. Fox Run Management L.L.C.’s holdings in Regal Rexnord were worth $353,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of RRX. Viking Global Investors LP boosted its stake in Regal Rexnord by 25.7% in the second quarter. Viking Global Investors LP now owns 3,430,128 shares of the company’s stock valued at $497,231,000 after buying an additional 701,145 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of Regal Rexnord by 30.7% in the third quarter. Nordea Investment Management AB now owns 2,028,936 shares of the company’s stock worth $289,083,000 after acquiring an additional 476,802 shares during the last quarter. Norges Bank acquired a new stake in shares of Regal Rexnord in the 2nd quarter valued at approximately $256,155,000. Invesco Ltd. grew its holdings in shares of Regal Rexnord by 36.6% during the 2nd quarter. Invesco Ltd. now owns 1,274,266 shares of the company’s stock valued at $184,718,000 after purchasing an additional 341,437 shares during the last quarter. Finally, Alliancebernstein L.P. increased its position in Regal Rexnord by 0.4% during the 2nd quarter. Alliancebernstein L.P. now owns 812,164 shares of the company’s stock worth $117,731,000 after purchasing an additional 3,574 shares in the last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.

Insider Activity

In other Regal Rexnord news, CFO Robert Rehard sold 7,704 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $216.72, for a total transaction of $1,669,610.88. Following the completion of the transaction, the chief financial officer owned 34,154 shares in the company, valued at approximately $7,401,854.88. This trade represents a 18.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Louis V. Pinkham sold 36,728 shares of the company’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $215.52, for a total transaction of $7,915,618.56. Following the completion of the sale, the chief executive officer directly owned 83,337 shares in the company, valued at approximately $17,960,790.24. This represents a 30.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 53,451 shares of company stock worth $11,386,689 in the last 90 days. 0.82% of the stock is owned by company insiders.

Regal Rexnord Stock Performance

NYSE RRX opened at $221.89 on Tuesday. The company has a market capitalization of $14.76 billion, a price-to-earnings ratio of 52.83, a PEG ratio of 2.05 and a beta of 1.13. The company has a quick ratio of 1.10, a current ratio of 2.15 and a debt-to-equity ratio of 0.70. Regal Rexnord Corporation has a twelve month low of $90.56 and a twelve month high of $229.30. The stock has a fifty day simple moving average of $177.04 and a 200 day simple moving average of $155.24.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings results on Thursday, February 5th. The company reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The firm had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.54 billion. Regal Rexnord had a return on equity of 9.60% and a net margin of 4.71%.The business’s revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.34 EPS. Sell-side analysts expect that Regal Rexnord Corporation will post 9.95 EPS for the current year.

Regal Rexnord Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 31st will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Tuesday, March 31st. Regal Rexnord’s dividend payout ratio is currently 33.33%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on RRX. Robert W. Baird set a $253.00 target price on shares of Regal Rexnord in a research report on Friday, February 6th. Zacks Research upgraded Regal Rexnord from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 30th. JPMorgan Chase & Co. boosted their price objective on Regal Rexnord from $190.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, February 6th. Oppenheimer upped their target price on Regal Rexnord from $180.00 to $225.00 and gave the stock an “outperform” rating in a report on Friday, February 6th. Finally, The Goldman Sachs Group increased their target price on Regal Rexnord from $170.00 to $230.00 and gave the company a “buy” rating in a research report on Monday, February 9th. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $227.50.

About Regal Rexnord

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.