Inspire Investing LLC Sells 524 Shares of Regal Rexnord Co. (NYSE:RRX)

Inspire Investing LLC decreased its position in Regal Rexnord Co. (NYSE:RRX) by 21.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,951 shares of the company’s stock after selling 524 shares during the quarter. Inspire Investing LLC’s holdings in Regal Rexnord were worth $264,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Regal Rexnord by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 6,788,594 shares of the company’s stock worth $1,004,848,000 after purchasing an additional 24,847 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in shares of Regal Rexnord by 8.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 58,336 shares of the company’s stock valued at $10,515,000 after acquiring an additional 4,342 shares in the last quarter. Blair William & Co. IL increased its position in shares of Regal Rexnord by 161.4% during the first quarter. Blair William & Co. IL now owns 7,770 shares of the company’s stock valued at $1,399,000 after acquiring an additional 4,798 shares during the last quarter. Westfield Capital Management Co. LP lifted its holdings in Regal Rexnord by 18.6% during the first quarter. Westfield Capital Management Co. LP now owns 302,532 shares of the company’s stock worth $54,486,000 after acquiring an additional 47,379 shares during the period. Finally, Artemis Investment Management LLP purchased a new position in Regal Rexnord in the first quarter worth $19,508,000. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on RRX shares. Barclays lowered their target price on Regal Rexnord from $181.00 to $180.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. The Goldman Sachs Group boosted their target price on shares of Regal Rexnord from $176.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Raymond James assumed coverage on shares of Regal Rexnord in a research note on Friday, June 28th. They set a “market perform” rating for the company. Robert W. Baird upped their price objective on Regal Rexnord from $208.00 to $213.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Finally, Loop Capital reissued a “buy” rating and issued a $200.00 target price on shares of Regal Rexnord in a research report on Thursday, September 19th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Regal Rexnord has an average rating of “Moderate Buy” and an average price target of $191.29.

Regal Rexnord Trading Up 0.4 %

Shares of Regal Rexnord stock opened at $168.48 on Wednesday. Regal Rexnord Co. has a 12-month low of $97.18 and a 12-month high of $183.85. 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 company has a market cap of $11.21 billion, a price-to-earnings ratio of -351.00, a PEG ratio of 1.64 and a beta of 1.04. The company’s 50-day moving average price is $157.01 and its 200-day moving average price is $156.80.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings results on Wednesday, July 31st. The company reported $2.29 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.15. The firm had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.51 billion. Regal Rexnord had a positive return on equity of 9.16% and a negative net margin of 0.02%. The company’s revenue was down 12.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.56 EPS. On average, equities analysts expect that Regal Rexnord Co. will post 9.53 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.83%. Regal Rexnord’s payout ratio is -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.