Regal Rexnord Co. (NYSE:RRX) Position Raised by 1620 Investment Advisors Inc.

1620 Investment Advisors Inc. raised its position in shares of Regal Rexnord Co. (NYSE:RRX) by 17.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 452 shares of the company’s stock after purchasing an additional 67 shares during the quarter. 1620 Investment Advisors Inc.’s holdings in Regal Rexnord were worth $75,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of RRX. Headlands Technologies LLC bought a new position in Regal Rexnord during the second quarter valued at about $46,000. UMB Bank n.a. grew its stake in shares of Regal Rexnord by 72.5% in the 3rd quarter. UMB Bank n.a. now owns 345 shares of the company’s stock worth $57,000 after purchasing an additional 145 shares during the last quarter. EntryPoint Capital LLC bought a new stake in shares of Regal Rexnord in the 1st quarter worth approximately $68,000. GAMMA Investing LLC lifted its stake in Regal Rexnord by 13.9% during the second quarter. GAMMA Investing LLC now owns 647 shares of the company’s stock valued at $87,000 after purchasing an additional 79 shares during the last quarter. Finally, CWM LLC boosted its holdings in Regal Rexnord by 25.4% during the second quarter. CWM LLC now owns 825 shares of the company’s stock worth $112,000 after buying an additional 167 shares in the last quarter. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Robert W. Baird increased their price objective on Regal Rexnord from $208.00 to $213.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. StockNews.com upgraded Regal Rexnord from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group boosted their price objective on Regal Rexnord from $176.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. KeyCorp decreased their target price on shares of Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Finally, Citigroup assumed coverage on shares of Regal Rexnord in a report on Monday, October 14th. They set a “buy” rating and a $200.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Regal Rexnord presently has an average rating of “Moderate Buy” and an average target price of $193.63.

Regal Rexnord Stock Down 0.2 %

RRX opened at $169.05 on Thursday. The company has a market capitalization of $11.25 billion, a PE ratio of -8,452.50, a price-to-earnings-growth ratio of 1.76 and a beta of 1.04. The business has a 50-day moving average of $164.80 and a 200-day moving average of $155.89. Regal Rexnord Co. has a fifty-two week low of $97.18 and a fifty-two week high of $183.85. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.45 and a quick ratio of 1.38.

Regal Rexnord (NYSE:RRX) last posted its earnings results on Wednesday, July 31st. The company reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same period in the previous year, the company earned $2.56 earnings per share. The company’s revenue was down 12.5% compared to the same quarter last year. Equities research analysts forecast that Regal Rexnord Co. will post 9.48 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date of this dividend is Tuesday, December 31st. Regal Rexnord’s dividend payout ratio is presently -7,000.00%.

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.