Artemis Investment Management LLP Has $14.28 Million Stock Holdings in Regal Rexnord Co. (NYSE:RRX)

Artemis Investment Management LLP lowered its holdings in shares of Regal Rexnord Co. (NYSE:RRX) by 31.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 92,048 shares of the company’s stock after selling 42,135 shares during the quarter. Artemis Investment Management LLP owned 0.14% of Regal Rexnord worth $14,279,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. UMB Bank n.a. grew its stake in Regal Rexnord by 72.5% in 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 in the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in Regal Rexnord by 30.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company’s stock valued at $71,000 after purchasing an additional 100 shares during the period. 1620 Investment Advisors Inc. grew its stake in shares of Regal Rexnord by 17.4% in the third quarter. 1620 Investment Advisors Inc. now owns 452 shares of the company’s stock valued at $75,000 after acquiring an additional 67 shares in the last quarter. Quarry LP boosted its stake in shares of Regal Rexnord by 752.9% in the second quarter. Quarry LP now owns 870 shares of the company’s stock valued at $118,000 after buying an additional 768 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of Regal Rexnord by 30.0% in the 3rd quarter. GAMMA Investing LLC now owns 841 shares of the company’s stock valued at $140,000 after buying an additional 194 shares in the last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.

Wall Street Analysts Forecast Growth

RRX has been the subject of several research analyst reports. StockNews.com downgraded Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Barclays lowered their target price on Regal Rexnord from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Robert W. Baird cut their price target on Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. The Goldman Sachs Group upped their price objective on Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Finally, Citigroup reduced their target price on shares of Regal Rexnord from $210.00 to $190.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Regal Rexnord currently has an average rating of “Moderate Buy” and an average target price of $202.00.

Regal Rexnord Stock Performance

NYSE:RRX opened at $156.41 on Monday. The company has a market capitalization of $10.36 billion, a PE ratio of 49.34, a P/E/G ratio of 1.44 and a beta of 1.04. Regal Rexnord Co. has a fifty-two week low of $130.94 and a fifty-two week high of $185.28. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.35 and a current ratio of 2.45. The company has a 50 day simple moving average of $164.43 and a two-hundred day simple moving average of $161.64.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings results on Monday, November 4th. The company reported $2.49 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.01. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.53 billion. Regal Rexnord had a return on equity of 9.48% and a net margin of 3.41%. The business’s revenue was down 10.4% compared to the same quarter last year. During the same period last year, the business posted $2.10 EPS. Research analysts anticipate that Regal Rexnord Co. will post 9.24 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend was Tuesday, December 31st. Regal Rexnord’s dividend payout ratio is presently 44.16%.

Insiders Place Their Bets

In other news, CEO Louis V. Pinkham sold 8,774 shares of the firm’s stock in a transaction dated 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 in the company, valued at $26,935,728.54. This trade represents a 5.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.82% of the company’s stock.

Regal Rexnord Company Profile

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.