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

Fox Run Management L.L.C. lowered its holdings in shares of Regal Rexnord Corporation (NYSE:RRX) by 72.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Geneos Wealth Management Inc. boosted its holdings in shares of Regal Rexnord by 135.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock worth $25,000 after buying an additional 127 shares in the last quarter. Allworth Financial LP lifted its position in shares of Regal Rexnord by 85.7% during the 2nd quarter. Allworth Financial LP now owns 195 shares of the company’s stock valued at $28,000 after acquiring an additional 90 shares during the period. Root Financial Partners LLC bought a new position in Regal Rexnord during the third quarter worth $28,000. SJS Investment Consulting Inc. grew its holdings in Regal Rexnord by 95.1% in the third quarter. SJS Investment Consulting Inc. now owns 199 shares of the company’s stock worth $29,000 after purchasing an additional 97 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in Regal Rexnord by 42.5% in the third quarter. EverSource Wealth Advisors LLC now owns 265 shares of the company’s stock worth $38,000 after purchasing an additional 79 shares during the period. 99.72% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Curtis W. Stoelting sold 4,500 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $180.00, for a total transaction of $810,000.00. Following the transaction, the director directly owned 15,617 shares of the company’s stock, valued at $2,811,060. This trade represents a 22.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Robert Rehard sold 7,704 shares of the business’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $216.72, for a total transaction of $1,669,610.88. Following 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 53,451 shares of company stock valued at $11,386,689 over the last quarter. 0.82% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Regal Rexnord in a report on Thursday, January 22nd. Barclays upped their price target on Regal Rexnord from $165.00 to $237.00 and gave the stock an “overweight” rating in a research note on Monday, February 9th. JPMorgan Chase & Co. increased their price target on Regal Rexnord from $190.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, February 6th. Zacks Research upgraded Regal Rexnord from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 30th. Finally, Robert W. Baird set a $253.00 target price on Regal Rexnord in a research report on Friday, February 6th. Seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Regal Rexnord has a consensus rating of “Moderate Buy” and an average price target of $227.50.

Regal Rexnord Price Performance

RRX stock opened at $221.89 on Tuesday. The company has a market capitalization of $14.76 billion, a P/E ratio of 52.83, a price-to-earnings-growth ratio of 2.05 and a beta of 1.13. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.10 and a current ratio of 2.15. Regal Rexnord Corporation has a 52-week low of $90.56 and a 52-week high of $229.30. The business has a 50-day simple moving average of $177.04 and a two-hundred day simple moving average of $155.24.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings data on Thursday, February 5th. The company reported $2.51 EPS for the quarter, topping the consensus estimate of $2.47 by $0.04. Regal Rexnord had a return on equity of 9.60% and a net margin of 4.71%.The firm had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the prior year, the business posted $2.34 earnings per share. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. Research analysts expect that Regal Rexnord Corporation will post 9.95 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 31st will be paid a dividend of $0.35 per share. The ex-dividend date is Tuesday, March 31st. This represents a $1.40 annualized dividend and a yield of 0.6%. Regal Rexnord’s dividend payout ratio (DPR) is 33.33%.

Regal Rexnord 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.