4,600 Shares in Regal Rexnord Co. (NYSE:RRX) Acquired by Bayesian Capital Management LP

Bayesian Capital Management LP acquired a new position in Regal Rexnord Co. (NYSE:RRX) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 4,600 shares of the company’s stock, valued at approximately $828,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Xponance Inc. grew its holdings in shares of Regal Rexnord by 1.2% in the 4th quarter. Xponance Inc. now owns 8,003 shares of the company’s stock valued at $1,185,000 after buying an additional 91 shares during the period. Oppenheimer Asset Management Inc. increased its position 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 acquiring an additional 95 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Regal Rexnord by 3.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,282 shares of the company’s stock worth $591,000 after purchasing an additional 102 shares in the last quarter. Mesirow Institutional Investment Management Inc. lifted its stake in Regal Rexnord by 0.9% in the fourth quarter. Mesirow Institutional Investment Management Inc. now owns 18,451 shares of the company’s stock valued at $2,731,000 after acquiring an additional 162 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its holdings in Regal Rexnord by 5.1% during the first quarter. Commonwealth Equity Services LLC now owns 3,400 shares of the company’s stock worth $612,000 after purchasing an additional 166 shares during the period. Institutional investors own 99.72% of the company’s stock.

Analyst Ratings Changes

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

Regal Rexnord Trading Up 1.8 %

Shares of RRX traded up $2.77 during mid-day trading on Tuesday, reaching $158.53. 526,401 shares of the company were exchanged, compared to its average volume of 449,809. Regal Rexnord Co. has a 52 week low of $97.18 and a 52 week high of $183.85. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.56 and a current ratio of 2.62. The stock has a market capitalization of $10.55 billion, a PE ratio of -327.75, a PEG ratio of 1.60 and a beta of 1.06. The business has a 50 day simple moving average of $144.05 and a two-hundred day simple moving average of $154.81.

Regal Rexnord (NYSE:RRX) last issued its earnings results on Monday, May 6th. The company reported $2.00 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.02. The business 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%. The firm’s revenue for the quarter was up 26.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.22 earnings per share. On average, analysts predict that Regal Rexnord Co. will post 9.73 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend is Friday, September 27th. Regal Rexnord’s payout ratio is -291.67%.

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.