Bokf Na Increases Stake in Regal Rexnord Co. (NYSE:RRX)

Bokf Na raised its position in Regal Rexnord Co. (NYSE:RRX) by 1.3% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 25,568 shares of the company’s stock after purchasing an additional 332 shares during the period. Bokf Na’s holdings in Regal Rexnord were worth $4,500,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rise Advisors LLC purchased a new position in shares of Regal Rexnord during the 1st quarter worth $33,000. EntryPoint Capital LLC purchased a new position in shares of Regal Rexnord during the 1st quarter worth $68,000. GAMMA Investing LLC purchased a new position in shares of Regal Rexnord during the 4th quarter worth $58,000. Riverview Trust Co purchased a new position in shares of Regal Rexnord during the 1st quarter worth $75,000. Finally, ICA Group Wealth Management LLC purchased a new position in shares of Regal Rexnord during the 4th quarter worth $70,000. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RRX. Raymond James began coverage on Regal Rexnord in a report on Friday, June 28th. They set a “market perform” rating on the stock. StockNews.com lowered shares of Regal Rexnord from a “buy” rating to a “hold” rating in a report on Thursday, July 4th. Barclays reduced their price objective on shares of Regal Rexnord from $199.00 to $181.00 and set an “overweight” rating on the stock in a report on Tuesday, June 4th. Robert W. Baird boosted their price objective on shares of Regal Rexnord from $205.00 to $208.00 and gave the company an “outperform” rating in a report on Wednesday, May 8th. Finally, KeyCorp reduced their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $188.00.

Regal Rexnord Trading Up 0.1 %

NYSE RRX traded up $0.19 during trading on Monday, hitting $155.68. The stock had a trading volume of 9,468 shares, compared to its average volume of 445,907. The company has a market capitalization of $10.36 billion, a PE ratio of -323.94, a PEG ratio of 1.60 and a beta of 1.06. The company has a quick ratio of 1.56, a current ratio of 2.62 and a debt-to-equity ratio of 0.99. The firm has a 50 day moving average price of $144.13 and a 200 day moving average price of $154.69. Regal Rexnord Co. has a twelve month low of $97.18 and a twelve month high of $183.85.

Regal Rexnord (NYSE:RRX) last released its earnings results on Monday, May 6th. The company reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.02. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.56 billion. Regal Rexnord had a positive return on equity of 9.42% and a negative net margin of 0.48%. Regal Rexnord’s revenue was up 26.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.22 EPS. As a group, equities research analysts forecast that Regal Rexnord Co. will post 9.73 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.90%. The ex-dividend date is Friday, September 27th. Regal Rexnord’s dividend payout ratio is currently -291.67%.

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.