Buckley Wealth Management LLC Takes $239,000 Position in Regal Rexnord Co. (NYSE:RRX)

Buckley Wealth Management LLC bought a new stake in Regal Rexnord Co. (NYSE:RRX) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 1,553 shares of the company’s stock, valued at approximately $239,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fiera Capital Corp lifted its position in shares of Regal Rexnord by 3.2% during the first quarter. Fiera Capital Corp now owns 307,529 shares of the company’s stock worth $43,279,000 after purchasing an additional 9,461 shares in the last quarter. Jennison Associates LLC raised its holdings in Regal Rexnord by 2.2% in the first quarter. Jennison Associates LLC now owns 134,024 shares of the company’s stock valued at $18,861,000 after acquiring an additional 2,829 shares in the last quarter. FMR LLC increased its position in shares of Regal Rexnord by 15.1% in the 1st quarter. FMR LLC now owns 8,674,826 shares of the company’s stock valued at $1,220,808,000 after purchasing an additional 1,140,696 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Regal Rexnord during the 1st quarter worth $666,000. Finally, Tredje AP fonden acquired a new position in shares of Regal Rexnord during the fourth quarter worth $873,000. Hedge funds and other institutional investors own 96.67% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Robert W. Baird boosted their target price on Regal Rexnord from $184.00 to $211.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 2nd. Oppenheimer lifted their price target on shares of Regal Rexnord from $190.00 to $200.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 2nd. Finally, StockNews.com initiated coverage on Regal Rexnord in a research note on Friday, August 18th. They set a “hold” rating on the stock. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $195.00.

Insider Buying and Selling at Regal Rexnord

In related news, VP John Avampato sold 8,427 shares of Regal Rexnord stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $151.83, for a total value of $1,279,471.41. Following the completion of the transaction, the vice president now directly owns 12,953 shares in the company, valued at $1,966,653.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.98% of the stock is currently owned by corporate insiders.

Regal Rexnord Stock Up 3.7 %

Shares of NYSE:RRX opened at $157.00 on Tuesday. The company has a market cap of $10.41 billion, a price-to-earnings ratio of 42.20, a PEG ratio of 1.45 and a beta of 1.08. Regal Rexnord Co. has a fifty-two week low of $111.84 and a fifty-two week high of $166.00. The firm’s 50-day simple moving average is $155.66 and its 200-day simple moving average is $145.04. The company has a quick ratio of 1.37, a current ratio of 2.52 and a debt-to-equity ratio of 1.03.

Regal Rexnord (NYSE:RRX) last released its earnings results on Monday, July 31st. The company reported $2.56 EPS for the quarter, beating analysts’ consensus estimates of $2.44 by $0.12. Regal Rexnord had a return on equity of 10.53% and a net margin of 4.45%. The company had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter last year, the company earned $2.76 earnings per share. Regal Rexnord’s quarterly revenue was up 31.1% compared to the same quarter last year. As a group, equities research analysts predict that Regal Rexnord Co. will post 10.41 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Thursday, September 28th. Regal Rexnord’s dividend payout ratio (DPR) is 37.63%.

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. It operates in four segments: Commercial Systems, Industrial Systems, Climate Solutions, and Motion Control Solutions.