Tandem Capital Management Corp ADV Sells 529 Shares of Regal Rexnord Co. (NYSE:RRX)

Tandem Capital Management Corp ADV cut its stake in shares of Regal Rexnord Co. (NYSE:RRX) by 3.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,305 shares of the company’s stock after selling 529 shares during the quarter. Regal Rexnord makes up 1.3% of Tandem Capital Management Corp ADV’s portfolio, making the stock its 26th largest holding. Tandem Capital Management Corp ADV’s holdings in Regal Rexnord were worth $2,396,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in RRX. CANADA LIFE ASSURANCE Co lifted its position in shares of Regal Rexnord by 8.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 58,336 shares of the company’s stock worth $10,515,000 after purchasing an additional 4,342 shares in the last quarter. Blair William & Co. IL boosted its holdings in Regal Rexnord by 161.4% in the first quarter. Blair William & Co. IL now owns 7,770 shares of the company’s stock valued at $1,399,000 after acquiring an additional 4,798 shares during the last quarter. Westfield Capital Management Co. LP lifted its position in Regal Rexnord by 18.6% during the 1st quarter. Westfield Capital Management Co. LP now owns 302,532 shares of the company’s stock valued at $54,486,000 after purchasing an additional 47,379 shares during the period. Artemis Investment Management LLP bought a new stake in shares of Regal Rexnord during the first quarter worth approximately $19,508,000. Finally, Daiwa Securities Group Inc. raised its position in shares of Regal Rexnord by 1,036.4% during the 1st quarter. Daiwa Securities Group Inc. now owns 10,773 shares of the company’s stock valued at $1,940,000 after acquiring an additional 9,825 shares during the last quarter. Institutional investors own 99.72% of the company’s stock.

Regal Rexnord Price Performance

Shares of NYSE:RRX traded up $0.85 during trading on Friday, reaching $168.90. 2,169 shares of the company traded hands, compared to its average volume of 445,739. The firm has a market capitalization of $11.24 billion, a PE ratio of -8,396.50, a PEG ratio of 1.79 and a beta of 1.04. The company’s 50 day moving average is $164.16 and its two-hundred day moving average is $156.05. Regal Rexnord Co. has a 52 week low of $97.18 and a 52 week high of $183.85. The company has a quick ratio of 1.38, a current ratio of 2.45 and a debt-to-equity ratio of 0.91.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.15. Regal Rexnord had a negative net margin of 0.02% and a positive return on equity of 9.16%. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same quarter last year, the business posted $2.56 EPS. The firm’s revenue for the quarter was down 12.5% on a year-over-year basis. As a group, sell-side analysts predict that Regal Rexnord Co. will post 9.48 earnings per share for the current year.

Analyst Upgrades and Downgrades

RRX has been the topic of several analyst reports. Robert W. Baird increased their target price on Regal Rexnord from $208.00 to $213.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Loop Capital reissued a “buy” rating and set a $200.00 price target on shares of Regal Rexnord in a research report on Thursday, September 19th. KeyCorp decreased their target price on Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Raymond James initiated coverage on Regal Rexnord in a research report on Friday, June 28th. They set a “market perform” rating on the stock. Finally, StockNews.com upgraded shares of Regal Rexnord from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Regal Rexnord presently has a consensus rating of “Moderate Buy” and a consensus price target of $193.63.

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.