GAMMA Investing LLC Has $102,000 Stock Holdings in Regal Rexnord Co. (NYSE:RRX)

GAMMA Investing LLC boosted its stake in Regal Rexnord Co. (NYSE:RRX) by 44.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 568 shares of the company’s stock after buying an additional 176 shares during the period. GAMMA Investing LLC’s holdings in Regal Rexnord were worth $102,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of RRX. Janney Montgomery Scott LLC increased its stake in shares of Regal Rexnord by 4.4% during the third quarter. Janney Montgomery Scott LLC now owns 4,333 shares of the company’s stock worth $619,000 after purchasing an additional 184 shares during the period. HighTower Advisors LLC increased its position in Regal Rexnord by 61.9% during the 3rd quarter. HighTower Advisors LLC now owns 3,543 shares of the company’s stock worth $503,000 after buying an additional 1,355 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Regal Rexnord by 12.9% during the third quarter. PNC Financial Services Group Inc. now owns 10,690 shares of the company’s stock worth $1,527,000 after buying an additional 1,225 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Regal Rexnord in the third quarter valued at about $491,000. Finally, Envestnet Asset Management Inc. grew its stake in shares of Regal Rexnord by 81.0% in the third quarter. Envestnet Asset Management Inc. now owns 108,963 shares of the company’s stock valued at $15,569,000 after acquiring an additional 48,772 shares in the last quarter. 99.72% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Robert W. Baird lifted their price objective on shares of Regal Rexnord from $205.00 to $208.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 8th. Barclays cut their price target 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. StockNews.com upgraded Regal Rexnord from a “hold” rating to a “buy” rating in a research note on Tuesday, June 18th. Oppenheimer upped their target price on Regal Rexnord from $185.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, March 13th. Finally, KeyCorp raised their price target on Regal Rexnord from $180.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, March 25th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Regal Rexnord currently has an average rating of “Buy” and a consensus target price of $192.00.

Regal Rexnord Trading Up 0.5 %

Shares of RRX opened at $141.12 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.56 and a current ratio of 2.62. Regal Rexnord Co. has a 52-week low of $97.18 and a 52-week high of $183.85. The firm has a market cap of $9.39 billion, a price-to-earnings ratio of -294.00, a PEG ratio of 1.43 and a beta of 1.10. The business’s fifty day moving average is $153.86 and its 200-day moving average is $154.40.

Regal Rexnord (NYSE:RRX) last released its earnings results on Monday, May 6th. The company reported $2.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.02. The firm had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.56 billion. Regal Rexnord had a positive return on equity of 9.42% and a negative net margin of 0.48%. The business’s revenue for the quarter was up 26.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.22 earnings per share. Equities analysts anticipate that Regal Rexnord Co. will post 9.82 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.99%. Regal Rexnord’s payout ratio is presently -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.