Oppenheimer & Co. Inc. Has $9.73 Million Stock Position in Regal Rexnord Co. (NYSE:RRX)

Oppenheimer & Co. Inc. cut its stake in shares of Regal Rexnord Co. (NYSE:RRX) by 3.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 58,653 shares of the company’s stock after selling 2,216 shares during the period. Oppenheimer & Co. Inc. owned about 0.09% of Regal Rexnord worth $9,729,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of RRX. BNP Paribas Financial Markets increased its holdings in Regal Rexnord by 25.0% in the 1st quarter. BNP Paribas Financial Markets now owns 5,462 shares of the company’s stock worth $984,000 after purchasing an additional 1,091 shares in the last quarter. Oppenheimer Asset Management Inc. increased its stake in shares of Regal Rexnord by 2.6% in the first quarter. Oppenheimer Asset Management Inc. now owns 3,808 shares of the company’s stock valued at $686,000 after buying an additional 95 shares during the period. Edmond DE Rothschild Holding S.A. bought a new position in Regal Rexnord in the 1st quarter valued at approximately $140,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in Regal Rexnord by 3.9% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 14,985 shares of the company’s stock worth $2,699,000 after buying an additional 561 shares during the period. Finally, HBK Sorce Advisory LLC bought a new stake in Regal Rexnord during the 1st quarter worth approximately $288,000. 99.72% of the stock is currently owned by institutional investors.

Regal Rexnord Trading Up 0.9 %

NYSE RRX opened at $172.06 on Thursday. The stock has a market capitalization of $11.40 billion, a P/E ratio of 54.28, a P/E/G ratio of 1.85 and a beta of 1.04. The business has a 50 day simple moving average of $166.89 and a 200 day simple moving average of $156.73. 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 Co. has a one year low of $111.33 and a one year high of $185.28.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings data 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 net margin of 3.41% and a return on equity of 9.48%. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter last year, the firm posted $2.10 EPS. The company’s quarterly revenue was down 10.4% on a year-over-year basis. Research analysts expect that Regal Rexnord Co. will post 9.2 earnings per share for the current year.

Regal Rexnord Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.40 annualized dividend and a dividend yield of 0.81%. Regal Rexnord’s dividend payout ratio is currently 44.16%.

Insider Transactions at Regal Rexnord

In related news, CEO Louis V. Pinkham sold 8,774 shares of the business’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 of the company’s stock, valued at $26,935,728.54. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Citigroup began coverage on shares of Regal Rexnord in a research note on Monday, October 14th. They set a “buy” rating and a $200.00 price target for the company. StockNews.com raised Regal Rexnord from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th. Loop Capital reiterated a “buy” rating and issued a $200.00 price target on shares of Regal Rexnord in a research report on Thursday, September 19th. Barclays increased their price target on Regal Rexnord from $180.00 to $190.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Finally, Robert W. Baird cut their price objective 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. 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 stock has an average rating of “Moderate Buy” and an average price target of $193.00.

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.