OneDigital Investment Advisors LLC Invests $209,000 in Regal Rexnord Co. (NYSE:RRX)

OneDigital Investment Advisors LLC acquired a new stake in Regal Rexnord Co. (NYSE:RRX) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,262 shares of the company’s stock, valued at approximately $209,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Headlands Technologies LLC acquired a new stake in Regal Rexnord during the second quarter worth about $46,000. 1620 Investment Advisors Inc. acquired a new stake in shares of Regal Rexnord during the 2nd quarter worth approximately $52,000. UMB Bank n.a. increased its position in shares of Regal Rexnord by 72.5% during the third quarter. UMB Bank n.a. now owns 345 shares of the company’s stock valued at $57,000 after purchasing an additional 145 shares during the period. EntryPoint Capital LLC acquired a new position in shares of Regal Rexnord in the first quarter valued at $68,000. Finally, GAMMA Investing LLC lifted its position in 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 purchasing an additional 79 shares during the period. Institutional investors and hedge funds own 99.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on RRX. StockNews.com raised shares of Regal Rexnord from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th. The Goldman Sachs Group upped their target price 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. Loop Capital restated a “buy” rating and set a $200.00 price target on shares of Regal Rexnord in a research note on Thursday, September 19th. Citigroup assumed coverage on Regal Rexnord in a research note on Monday, October 14th. They issued a “buy” rating and a $200.00 price objective on the stock. Finally, Robert W. Baird cut their target price on Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. One equities research 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 a consensus rating of “Moderate Buy” and an average price target of $193.00.

Insider Transactions at Regal Rexnord

In other news, CEO Louis V. Pinkham sold 8,774 shares of Regal Rexnord 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 sale, the chief executive officer now directly owns 149,618 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through this hyperlink. 0.82% of the stock is owned by company insiders.

Regal Rexnord Stock Up 2.1 %

NYSE RRX opened at $177.37 on Friday. The stock’s 50 day simple moving average is $170.10 and its 200 day simple moving average is $157.21. Regal Rexnord Co. has a one year low of $113.79 and a one year high of $185.28. The firm has a market cap of $11.75 billion, a PE ratio of 55.95, a price-to-earnings-growth ratio of 1.88 and a beta of 1.04. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.45 and a quick ratio of 1.35.

Regal Rexnord (NYSE:RRX) last announced its earnings results on Monday, November 4th. The company reported $2.49 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 for the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter in the prior year, the business earned $2.10 earnings per share. The business’s revenue for the quarter was down 10.4% on a year-over-year basis. As a group, sell-side analysts forecast that Regal Rexnord Co. will post 9.25 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

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

About Regal Rexnord

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.