Park Avenue Securities LLC purchased a new stake in shares of Regal Rexnord Co. (NYSE:RRX – Get Rating) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,703 shares of the company’s stock, valued at approximately $239,000.
Several other institutional investors and hedge funds also recently made changes to their positions in RRX. Vanguard Group Inc. bought a new stake in shares of Regal Rexnord during the first quarter valued at approximately $978,777,000. Capital World Investors bought a new stake in shares of Regal Rexnord during the first quarter valued at approximately $793,975,000. State Street Corp bought a new stake in shares of Regal Rexnord during the first quarter valued at approximately $266,837,000. Clearbridge Investments LLC bought a new stake in shares of Regal Rexnord during the first quarter valued at approximately $154,043,000. Finally, Wellington Management Group LLP purchased a new stake in Regal Rexnord in the first quarter worth approximately $143,144,000. Institutional investors own 99.98% of the company’s stock.
Regal Rexnord Trading Up 1.6 %
Shares of Regal Rexnord stock opened at $136.83 on Tuesday. The company’s fifty day simple moving average is $125.65 and its 200-day simple moving average is $132.93. The stock has a market capitalization of $9.05 billion, a PE ratio of 24.01, a P/E/G ratio of 1.25 and a beta of 1.08. Regal Rexnord Co. has a 1-year low of $108.28 and a 1-year high of $166.40. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.89 and a quick ratio of 1.60.
Regal Rexnord (NYSE:RRX – Get Rating) last issued its quarterly earnings results on Monday, October 31st. The company reported $2.66 earnings per share for the quarter, hitting the consensus estimate of $2.66. The business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Regal Rexnord had a net margin of 7.37% and a return on equity of 10.91%. As a group, equities analysts anticipate that Regal Rexnord Co. will post 10.41 earnings per share for the current year.
Regal Rexnord Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, January 13th. Investors of record on Friday, December 30th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date was Thursday, December 29th. Regal Rexnord’s dividend payout ratio (DPR) is 24.56%.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on RRX shares. Robert W. Baird dropped their target price on shares of Regal Rexnord from $174.00 to $167.00 in a report on Wednesday, November 2nd. Wolfe Research cut shares of Regal Rexnord from an “outperform” rating to a “peer perform” rating in a report on Thursday, December 1st. StockNews.com started coverage on shares of Regal Rexnord in a report on Wednesday, October 12th. They issued a “buy” rating on the stock. Finally, Oppenheimer dropped their target price on shares of Regal Rexnord to $180.00 in a report on Wednesday, December 14th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $172.60.
About Regal Rexnord
Regal Rexnord Corporation, together with its subsidiaries, designs, manufactures, and sells industrial powertrain solutions, power transmission components, electric motors and electronic controls, air moving products, and specialty electrical components and systems worldwide. It operates through four segments: Commercial Systems, Industrial Systems, Climate Solutions, and Motion Control Solutions.
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