Hantz Financial Services Inc. Raises Stock Position in Regal Rexnord Co. (NYSE:RRX)

Hantz Financial Services Inc. raised its stake in Regal Rexnord Co. (NYSE:RRX) by 2.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 100,116 shares of the company’s stock after buying an additional 2,796 shares during the quarter. Hantz Financial Services Inc.’s holdings in Regal Rexnord were worth $16,607,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Headlands Technologies LLC purchased a new position in shares of Regal Rexnord during the 2nd quarter worth approximately $46,000. 1620 Investment Advisors Inc. purchased a new position in shares of Regal Rexnord during the 2nd quarter worth approximately $52,000. UMB Bank n.a. increased its stake in shares of Regal Rexnord by 72.5% during 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 in the last quarter. GAMMA Investing LLC increased its stake in shares of Regal Rexnord by 13.9% during the 2nd quarter. GAMMA Investing LLC now owns 647 shares of the company’s stock worth $87,000 after purchasing an additional 79 shares in the last quarter. Finally, CWM LLC increased its stake in shares of Regal Rexnord by 25.4% during the 2nd quarter. CWM LLC now owns 825 shares of the company’s stock worth $112,000 after purchasing an additional 167 shares in the last quarter. 99.72% of the stock is owned by hedge funds and other institutional investors.

Regal Rexnord Stock Down 1.3 %

Shares of RRX opened at $169.66 on Friday. The firm has a market cap of $11.24 billion, a PE ratio of 53.52, a price-to-earnings-growth ratio of 1.83 and a beta of 1.04. The company’s fifty day moving average is $170.77 and its two-hundred day moving average is $157.60. Regal Rexnord Co. has a fifty-two week low of $114.18 and a fifty-two week high of $185.28. The company has a quick ratio of 1.35, a current ratio of 2.45 and a debt-to-equity ratio of 0.87.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings results on Monday, November 4th. The company reported $2.49 earnings per share for the quarter, beating analysts’ consensus estimates of $2.48 by $0.01. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.53 billion. Regal Rexnord had a net margin of 3.41% and a return on equity of 9.48%. Regal Rexnord’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same quarter last year, the business earned $2.10 EPS. Analysts forecast that Regal Rexnord Co. will post 9.25 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.35 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.40 annualized dividend and a dividend yield of 0.83%. Regal Rexnord’s payout ratio is 44.16%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Loop Capital reissued a “buy” rating and set a $200.00 price objective on shares of Regal Rexnord in a research note on Thursday, September 19th. Citigroup began coverage on shares of Regal Rexnord in a research note on Monday, October 14th. They issued a “buy” rating and a $200.00 target price for the company. Robert W. Baird lowered their target price on shares of Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Barclays lifted their target price on shares of Regal Rexnord from $180.00 to $190.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Finally, StockNews.com raised shares of Regal Rexnord from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Regal Rexnord has a consensus rating of “Moderate Buy” and a consensus target price of $193.00.

Insider Activity at Regal Rexnord

In related news, CEO Louis V. Pinkham sold 8,774 shares of Regal Rexnord stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $180.03, for a total transaction of $1,579,583.22. Following the transaction, the chief executive officer now owns 149,618 shares in the company, valued at approximately $26,935,728.54. The trade was a 5.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.82% of the company’s stock.

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.