XTX Topco Ltd Has $1.31 Million Stock Holdings in Regal Rexnord Co. (NYSE:RRX)

XTX Topco Ltd grew its position in shares of Regal Rexnord Co. (NYSE:RRX) by 159.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,665 shares of the company’s stock after acquiring an additional 5,942 shares during the quarter. XTX Topco Ltd’s holdings in Regal Rexnord were worth $1,307,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in RRX. Private Advisor Group LLC boosted its holdings in Regal Rexnord by 14.3% during the fourth quarter. Private Advisor Group LLC now owns 1,620 shares of the company’s stock worth $240,000 after purchasing an additional 203 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Regal Rexnord in the 4th quarter valued at about $325,000. Coldstream Capital Management Inc. increased its position in shares of Regal Rexnord by 27.5% in the fourth quarter. Coldstream Capital Management Inc. now owns 2,632 shares of the company’s stock valued at $390,000 after acquiring an additional 567 shares during the last quarter. Corient Private Wealth LLC raised its holdings in Regal Rexnord by 79.9% during the fourth quarter. Corient Private Wealth LLC now owns 8,318 shares of the company’s stock worth $1,231,000 after acquiring an additional 3,694 shares in the last quarter. Finally, Assetmark Inc. boosted its position in Regal Rexnord by 33.1% during the fourth quarter. Assetmark Inc. now owns 6,204 shares of the company’s stock valued at $918,000 after purchasing an additional 1,542 shares during the last quarter. 99.72% of the stock is owned by institutional investors.

Regal Rexnord Price Performance

Shares of NYSE:RRX opened at $169.67 on Friday. The firm has a 50 day moving average of $156.45 and a 200-day moving average of $156.98. 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 stock has a market capitalization of $11.29 billion, a PE ratio of -353.48, a PEG ratio of 1.64 and a beta of 1.04.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $2.29 EPS for the quarter, beating the consensus estimate of $2.14 by $0.15. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.51 billion. Regal Rexnord had a negative net margin of 0.02% and a positive return on equity of 9.16%. The company’s revenue was down 12.5% on a year-over-year basis. During the same period in the previous year, the business earned $2.56 earnings per share. On average, equities research analysts predict that Regal Rexnord Co. will post 9.53 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The firm 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 $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.83%. The ex-dividend date is Friday, September 27th. Regal Rexnord’s dividend payout ratio (DPR) is presently -291.67%.

Analysts Set New Price Targets

RRX has been the topic of several recent analyst reports. Barclays lowered their price target on Regal Rexnord from $181.00 to $180.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. The Goldman Sachs Group upped their price target on shares of Regal Rexnord from $176.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. KeyCorp decreased their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Raymond James began coverage on Regal Rexnord in a research report on Friday, June 28th. They set a “market perform” rating on the stock. Finally, Loop Capital reissued a “buy” rating and issued a $200.00 price objective on shares of Regal Rexnord in a research report on Thursday. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Regal Rexnord currently has a consensus rating of “Moderate Buy” and an average price target 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.