2,983 Shares in Regal Rexnord Co. (NYSE:RRX) Acquired by Choreo LLC

Choreo LLC acquired a new position in shares of Regal Rexnord Co. (NYSE:RRX) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 2,983 shares of the company’s stock, valued at approximately $394,000.

Other hedge funds have also made changes to their positions in the company. GAMMA Investing LLC raised its holdings in shares of Regal Rexnord by 13.9% in the second quarter. GAMMA Investing LLC now owns 647 shares of the company’s stock valued at $87,000 after acquiring an additional 79 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position 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 worth $686,000 after purchasing an additional 95 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake 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. raised 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 buying an additional 113 shares in the last quarter. Finally, Raymond James Trust N.A. lifted its holdings 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 worth $404,000 after buying an additional 161 shares during the period. 99.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RRX has been the topic of a number of analyst reports. StockNews.com upgraded Regal Rexnord from a “hold” rating to a “buy” rating in a report on Monday, August 5th. KeyCorp reduced their target price on shares of Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Raymond James started coverage on shares of Regal Rexnord in a research report on Friday, June 28th. They set a “market perform” rating for the company. Robert W. Baird lifted their price objective on shares of Regal Rexnord from $208.00 to $213.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Finally, Barclays decreased their target price on shares of Regal Rexnord from $181.00 to $180.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $189.83.

Regal Rexnord Trading Up 0.5 %

NYSE RRX opened at $155.77 on Tuesday. Regal Rexnord Co. has a 12-month low of $97.18 and a 12-month high of $183.85. The company has a fifty day simple moving average of $154.14 and a two-hundred day simple moving average of $156.86. 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 stock has a market cap of $10.36 billion, a P/E ratio of -324.51, a P/E/G ratio of 1.56 and a beta of 1.04.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $2.29 EPS 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 company had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter in the previous year, the firm posted $2.56 EPS. The firm’s revenue was down 12.5% compared to the same quarter last year. On average, analysts forecast that Regal Rexnord Co. will post 9.53 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend is Friday, September 27th. Regal Rexnord’s dividend payout ratio is presently -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.