Dimensional Fund Advisors LP Purchases 8,159 Shares of Regal Rexnord Co. (NYSE:RRX)

Dimensional Fund Advisors LP raised its holdings in shares of Regal Rexnord Co. (NYSE:RRX) by 0.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,422,350 shares of the company’s stock after acquiring an additional 8,159 shares during the period. Dimensional Fund Advisors LP owned about 2.14% of Regal Rexnord worth $192,338,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Rise Advisors LLC purchased a new position in Regal Rexnord in the 1st quarter worth $33,000. Headlands Technologies LLC purchased a new position in shares of Regal Rexnord in the second quarter worth about $46,000. 1620 Investment Advisors Inc. bought a new stake in shares of Regal Rexnord in the 2nd quarter valued at about $52,000. EntryPoint Capital LLC purchased a new stake in Regal Rexnord during the 1st quarter valued at about $68,000. Finally, Riverview Trust Co bought a new position in Regal Rexnord during the 1st quarter worth approximately $75,000. 99.72% of the stock is owned by hedge funds and other institutional investors.

Regal Rexnord Stock Performance

Shares of NYSE RRX opened at $174.41 on Friday. The company has a current ratio of 2.45, a quick ratio of 1.38 and a debt-to-equity ratio of 0.91. Regal Rexnord Co. has a 1 year low of $97.18 and a 1 year high of $183.85. The company’s 50-day moving average is $155.97 and its 200 day moving average is $157.00.

Regal Rexnord (NYSE:RRX) last posted its earnings results on Wednesday, July 31st. The company reported $2.29 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.15. The firm had revenue of $1.55 billion for 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%. The business’s revenue for the quarter was down 12.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.56 EPS. On average, analysts anticipate that Regal Rexnord Co. will post 9.53 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date is Friday, September 27th. Regal Rexnord’s dividend payout ratio (DPR) is presently -291.67%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on RRX shares. KeyCorp dropped their price objective on Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. The Goldman Sachs Group raised their price target on shares of Regal Rexnord from $176.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Barclays lowered their price objective 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. Loop Capital reissued a “buy” rating and issued a $200.00 target price on shares of Regal Rexnord in a research note on Thursday. Finally, StockNews.com lowered Regal Rexnord from a “buy” rating to a “hold” rating in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Regal Rexnord presently has a consensus rating of “Moderate Buy” and an average target price of $191.29.

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.