Oarsman Capital Inc. Takes $218,000 Position in Regal Rexnord Corporation $RRX

Oarsman Capital Inc. bought a new stake in Regal Rexnord Corporation (NYSE:RRX) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 1,501 shares of the company’s stock, valued at approximately $218,000.

Several other large investors also recently made changes to their positions in the company. Diamond Hill Capital Management Inc. grew its stake in shares of Regal Rexnord by 6.0% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 3,083,622 shares of the company’s stock valued at $351,070,000 after buying an additional 175,273 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Regal Rexnord by 4.2% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,882,369 shares of the company’s stock valued at $328,158,000 after buying an additional 115,564 shares during the period. Victory Capital Management Inc. grew its stake in shares of Regal Rexnord by 11.9% in the 1st quarter. Victory Capital Management Inc. now owns 2,436,848 shares of the company’s stock valued at $277,435,000 after buying an additional 259,885 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Regal Rexnord by 30.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,712,297 shares of the company’s stock valued at $194,955,000 after buying an additional 396,737 shares during the period. Finally, Nordea Investment Management AB acquired a new stake in shares of Regal Rexnord in the 2nd quarter valued at about $224,889,000. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Regal Rexnord Price Performance

Regal Rexnord stock opened at $150.81 on Thursday. Regal Rexnord Corporation has a 52 week low of $90.56 and a 52 week high of $185.28. The company’s 50 day moving average price is $145.05 and its two-hundred day moving average price is $139.84. The company has a quick ratio of 0.93, a current ratio of 2.00 and a debt-to-equity ratio of 0.72. The stock has a market cap of $10.01 billion, a P/E ratio of 40.11, a P/E/G ratio of 1.46 and a beta of 1.16.

Regal Rexnord (NYSE:RRX) last posted its earnings results on Friday, September 8th. The company reported $2.76 EPS for the quarter. Regal Rexnord had a net margin of 4.28% and a return on equity of 9.73%. The firm had revenue of $1.85 billion for the quarter. On average, equities analysts predict that Regal Rexnord Corporation will post 9.95 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 14th. Shareholders of record on Wednesday, December 31st will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $1.40 annualized dividend and a dividend yield of 0.9%. Regal Rexnord’s dividend payout ratio (DPR) is currently 37.23%.

Wall Street Analysts Forecast Growth

RRX has been the subject of several research reports. JPMorgan Chase & Co. began coverage on Regal Rexnord in a research note on Monday, September 15th. They issued an “overweight” rating and a $200.00 target price for the company. KeyCorp cut their price target on Regal Rexnord from $180.00 to $170.00 and set an “overweight” rating for the company in a research note on Tuesday, October 14th. Wall Street Zen downgraded Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research note on Sunday, September 21st. The Goldman Sachs Group cut their price target on Regal Rexnord from $192.00 to $170.00 and set a “buy” rating for the company in a research note on Tuesday, September 16th. Finally, Barclays cut their price target on Regal Rexnord from $163.00 to $161.00 and set an “overweight” rating for the company in a research note on Tuesday, September 16th. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $180.38.

Regal Rexnord 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.