Tandem Capital Management Corp ADV Lowers Position in Regal Rexnord Co. (NYSE:RRX)

Tandem Capital Management Corp ADV lessened its position in shares of Regal Rexnord Co. (NYSE:RRX) by 1.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,305 shares of the company’s stock after selling 174 shares during the quarter. Regal Rexnord comprises 1.2% of Tandem Capital Management Corp ADV’s portfolio, making the stock its 27th biggest holding. Tandem Capital Management Corp ADV’s holdings in Regal Rexnord were worth $1,969,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cary Street Partners Investment Advisory LLC raised its stake in Regal Rexnord by 652.2% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 173 shares of the company’s stock worth $25,000 after buying an additional 150 shares in the last quarter. GAMMA Investing LLC purchased a new stake in Regal Rexnord in the fourth quarter valued at about $58,000. Global Retirement Partners LLC boosted its holdings in Regal Rexnord by 18.5% in the third quarter. Global Retirement Partners LLC now owns 493 shares of the company’s stock worth $68,000 after acquiring an additional 77 shares in the last quarter. CWM LLC boosted its holdings in Regal Rexnord by 48.5% in the fourth quarter. CWM LLC now owns 738 shares of the company’s stock worth $109,000 after acquiring an additional 241 shares in the last quarter. Finally, International Assets Investment Management LLC increased its holdings in shares of Regal Rexnord by 11,000.0% during the fourth quarter. International Assets Investment Management LLC now owns 888 shares of the company’s stock valued at $131,000 after acquiring an additional 880 shares in the last quarter. 99.72% of the stock is owned by hedge funds and other institutional investors.

Regal Rexnord Stock Performance

Shares of NYSE:RRX traded down $2.26 during midday trading on Thursday, reaching $161.97. The company’s stock had a trading volume of 357,825 shares, compared to its average volume of 460,198. The firm has a market capitalization of $10.76 billion, a PE ratio of -188.95, a P/E/G ratio of 1.66 and a beta of 1.14. The stock has a fifty day moving average of $169.79 and a 200 day moving average of $144.48. Regal Rexnord Co. has a twelve month low of $97.18 and a twelve month high of $183.85. The company has a quick ratio of 1.59, a current ratio of 2.55 and a debt-to-equity ratio of 1.00.

Regal Rexnord (NYSE:RRX) last posted its earnings results on Wednesday, February 7th. The company reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.02. Regal Rexnord had a negative net margin of 0.92% and a positive return on equity of 9.58%. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same period in the prior year, the company posted $2.64 EPS. The company’s revenue for the quarter was up 29.2% on a year-over-year basis. On average, equities analysts expect that Regal Rexnord Co. will post 10.05 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.35 per share. The ex-dividend date is Friday, June 28th. This represents a $1.40 annualized dividend and a yield of 0.86%. Regal Rexnord’s dividend payout ratio (DPR) is -160.92%.

Insider Activity at Regal Rexnord

In other Regal Rexnord news, EVP Thomas E. Valentyn sold 647 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $169.70, for a total transaction of $109,795.90. Following the transaction, the executive vice president now directly owns 28,412 shares in the company, valued at $4,821,516.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Regal Rexnord news, EVP Thomas E. Valentyn sold 647 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $169.70, for a total value of $109,795.90. Following the transaction, the executive vice president now directly owns 28,412 shares in the company, valued at $4,821,516.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jerrald R. Morton sold 2,992 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $154.34, for a total transaction of $461,785.28. Following the transaction, the executive vice president now owns 15,884 shares in the company, valued at $2,451,536.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,570 shares of company stock worth $892,301. Company insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

RRX has been the subject of a number of recent analyst reports. Barclays boosted their target price on shares of Regal Rexnord from $200.00 to $203.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Oppenheimer boosted their price objective on shares of Regal Rexnord from $185.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, March 13th. Finally, KeyCorp raised their target price on Regal Rexnord from $180.00 to $210.00 and gave the stock an “overweight” rating in a research note on Monday, March 25th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $197.00.

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.