Intech Investment Management LLC Buys 12,477 Shares of Regal Rexnord Co. (NYSE:RRX)

Intech Investment Management LLC raised its position in shares of Regal Rexnord Co. (NYSE:RRX) by 879.3% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,896 shares of the company’s stock after acquiring an additional 12,477 shares during the period. Intech Investment Management LLC’s holdings in Regal Rexnord were worth $1,879,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Rise Advisors LLC purchased a new position in shares of Regal Rexnord during the 1st quarter worth about $33,000. Headlands Technologies LLC purchased a new position in shares of Regal Rexnord during the second quarter valued at approximately $46,000. 1620 Investment Advisors Inc. bought a new position in shares of Regal Rexnord during the second quarter valued at approximately $52,000. EntryPoint Capital LLC purchased a new stake in shares of Regal Rexnord in the first quarter worth approximately $68,000. Finally, Riverview Trust Co bought a new stake in shares of Regal Rexnord during the 1st quarter worth approximately $75,000. Institutional investors own 99.72% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Raymond James initiated coverage on Regal Rexnord in a research note on Friday, June 28th. They issued a “market perform” rating on the stock. Barclays decreased their price objective on shares of Regal Rexnord from $181.00 to $180.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. The Goldman Sachs Group upped their target price on shares of Regal Rexnord from $176.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Loop Capital reaffirmed a “buy” rating and set a $200.00 price target on shares of Regal Rexnord in a research note on Thursday, September 19th. Finally, KeyCorp dropped their price objective on Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $191.29.

Regal Rexnord Stock Performance

Shares of NYSE:RRX opened at $167.81 on Tuesday. The firm has a 50 day moving average of $156.80 and a 200 day moving average of $156.83. The company has a quick ratio of 1.38, a current ratio of 2.45 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $11.16 billion, a price-to-earnings ratio of -349.60, a price-to-earnings-growth ratio of 1.64 and a beta of 1.04. Regal Rexnord Co. has a 52 week low of $97.18 and a 52 week high of $183.85.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings data 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. Regal Rexnord had a positive return on equity of 9.16% and a negative net margin of 0.02%. 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 prior year, the business posted $2.56 EPS. The firm’s quarterly revenue was down 12.5% on a year-over-year basis. On average, sell-side analysts predict that Regal Rexnord Co. will post 9.53 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be paid a dividend of $0.35 per share. The ex-dividend date is Friday, September 27th. This represents a $1.40 annualized dividend and a dividend yield of 0.83%. Regal Rexnord’s dividend payout ratio (DPR) is presently -291.67%.

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.