Headlands Technologies LLC Acquires Shares of 342 Regal Rexnord Co. (NYSE:RRX)

Headlands Technologies LLC acquired a new position in Regal Rexnord Co. (NYSE:RRX) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 342 shares of the company’s stock, valued at approximately $46,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC raised its stake in Regal Rexnord by 13.9% in the second quarter. GAMMA Investing LLC now owns 647 shares of the company’s stock worth $87,000 after buying an additional 79 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its stake in shares of Regal Rexnord by 2.6% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 3,808 shares of the company’s stock valued at $686,000 after purchasing an additional 95 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of Regal Rexnord by 3.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,282 shares of the company’s stock valued at $591,000 after purchasing an additional 102 shares in the last quarter. Industrial Alliance Investment Management Inc. grew its stake in Regal Rexnord by 4.4% in the first quarter. Industrial Alliance Investment Management Inc. now owns 2,697 shares of the company’s stock worth $486,000 after purchasing an additional 113 shares during the period. Finally, Raymond James Trust N.A. lifted its position in Regal Rexnord by 5.7% during the second quarter. Raymond James Trust N.A. now owns 2,988 shares of the company’s stock valued at $404,000 after buying an additional 161 shares during the period. 99.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on RRX shares. Barclays decreased their price target on shares of Regal Rexnord from $181.00 to $180.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Robert W. Baird raised their target price on shares of Regal Rexnord from $208.00 to $213.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. KeyCorp dropped their price target on Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Raymond James began coverage on Regal Rexnord in a research report on Friday, June 28th. They set a “market perform” rating for the company. Finally, StockNews.com raised Regal Rexnord from a “hold” rating to a “buy” rating in a report on Monday, August 5th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Regal Rexnord currently has an average rating of “Moderate Buy” and a consensus price target of $189.83.

Regal Rexnord Stock Up 5.1 %

Regal Rexnord stock opened at $163.75 on Wednesday. Regal Rexnord Co. has a 12 month low of $97.18 and a 12 month high of $183.85. The stock has a fifty day simple moving average of $154.74 and a two-hundred day simple moving average of $156.81. The company has a current ratio of 2.45, a quick ratio of 1.38 and a debt-to-equity ratio of 0.91. The firm has a market cap of $10.90 billion, a price-to-earnings ratio of -341.15, a PEG ratio of 1.56 and a beta of 1.04.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings data on Wednesday, July 31st. The company reported $2.29 EPS for the quarter, topping the consensus estimate of $2.14 by $0.15. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.51 billion. Regal Rexnord had a positive return on equity of 9.16% and a negative net margin of 0.02%. Regal Rexnord’s revenue for the quarter was down 12.5% on a year-over-year basis. During the same period last year, the company earned $2.56 EPS. Equities analysts predict that Regal Rexnord Co. will post 9.53 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend 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.