Creative Planning Buys 326 Shares of Regal Rexnord Co. (NYSE:RRX)

Creative Planning raised its stake in shares of Regal Rexnord Co. (NYSE:RRX) by 11.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,131 shares of the company’s stock after acquiring an additional 326 shares during the quarter. Creative Planning’s holdings in Regal Rexnord were worth $519,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Capital World Investors boosted its position in shares of Regal Rexnord by 4.7% in the 1st quarter. Capital World Investors now owns 6,599,752 shares of the company’s stock worth $1,188,615,000 after purchasing an additional 296,941 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its position in shares of Regal Rexnord by 7.1% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 3,181,886 shares of the company’s stock worth $430,255,000 after purchasing an additional 209,776 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Regal Rexnord by 42.7% in the 2nd quarter. Victory Capital Management Inc. now owns 1,884,575 shares of the company’s stock worth $254,832,000 after purchasing an additional 563,853 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Regal Rexnord by 0.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,422,350 shares of the company’s stock worth $192,338,000 after purchasing an additional 8,159 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Regal Rexnord by 24.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,125,445 shares of the company’s stock worth $152,183,000 after purchasing an additional 222,775 shares in the last quarter. Institutional investors own 99.72% of the company’s stock.

Regal Rexnord Stock Performance

NYSE RRX opened at $168.10 on Wednesday. The stock has a 50-day simple moving average of $165.24 and a two-hundred day simple moving average of $156.19. The firm has a market capitalization of $11.19 billion, a P/E ratio of -8,405.00, a PEG ratio of 1.78 and a beta of 1.04. Regal Rexnord Co. has a fifty-two week low of $100.00 and a fifty-two week high of $183.85. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.38 and a current ratio of 2.45.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings data on Monday, November 4th. The company reported $2.49 earnings per share for the quarter, beating analysts’ consensus estimates of $2.45 by $0.04. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.53 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 10.4% on a year-over-year basis. During the same quarter last year, the business posted $2.10 EPS. On average, equities analysts forecast that Regal Rexnord Co. will post 9.48 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st will be paid a $0.35 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.40 annualized dividend and a dividend yield of 0.83%. Regal Rexnord’s dividend payout ratio is presently -7,000.00%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on RRX shares. Robert W. Baird raised their price objective on Regal Rexnord from $208.00 to $213.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Barclays raised their target price on Regal Rexnord from $180.00 to $190.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Loop Capital restated a “buy” rating and issued a $200.00 target price on shares of Regal Rexnord in a research note on Thursday, September 19th. The Goldman Sachs Group raised their target price on Regal Rexnord from $176.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, StockNews.com upgraded Regal Rexnord from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $193.63.

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.