Quadrant Capital Group LLC lessened its position in Regal Rexnord Co. (NYSE:RRX – Free Report) by 15.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,070 shares of the company’s stock after selling 198 shares during the period. Quadrant Capital Group LLC’s holdings in Regal Rexnord were worth $165,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of RRX. Vanguard Group Inc. bought a new position in Regal Rexnord during the first quarter worth about $978,777,000. Capital World Investors acquired a new position in shares of Regal Rexnord during the 1st quarter worth approximately $793,975,000. State Street Corp acquired a new position in shares of Regal Rexnord during the 1st quarter worth approximately $266,837,000. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in Regal Rexnord by 98,060.5% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,203,448 shares of the company’s stock valued at $185,211,000 after purchasing an additional 1,202,222 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. boosted its position in Regal Rexnord by 168.4% during the first quarter. Diamond Hill Capital Management Inc. now owns 1,848,402 shares of the company’s stock worth $260,126,000 after purchasing an additional 1,159,687 shares during the period. 96.67% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on the stock. Robert W. Baird raised their target price on shares of Regal Rexnord from $184.00 to $211.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 2nd. StockNews.com assumed coverage on Regal Rexnord in a research report on Thursday, October 5th. They issued a “hold” rating on the stock. TheStreet cut Regal Rexnord from a “b-” rating to a “c” rating in a report on Thursday, November 2nd. Oppenheimer reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of Regal Rexnord in a report on Wednesday, October 4th. Finally, KeyCorp dropped their target price on Regal Rexnord from $184.00 to $148.00 and set an “overweight” rating for the company in a report on Thursday, November 2nd. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Regal Rexnord has a consensus rating of “Moderate Buy” and an average price target of $186.00.
Regal Rexnord Trading Up 0.1 %
Shares of NYSE:RRX opened at $116.05 on Tuesday. The business’s 50 day simple moving average is $128.85 and its 200 day simple moving average is $141.50. Regal Rexnord Co. has a 1 year low of $97.18 and a 1 year high of $166.00. The company has a debt-to-equity ratio of 1.05, a current ratio of 2.58 and a quick ratio of 1.59. The company has a market capitalization of $7.70 billion, a P/E ratio of -644.72, a P/E/G ratio of 1.26 and a beta of 1.11.
Regal Rexnord (NYSE:RRX – Get Free Report) last released its earnings results on Wednesday, November 1st. The company reported $2.10 earnings per share for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.40). The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.73 billion. Regal Rexnord had a negative net margin of 0.20% and a positive return on equity of 9.92%. The business’s revenue was up 24.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.66 earnings per share. On average, research analysts anticipate that Regal Rexnord Co. will post 9.13 EPS for the current fiscal year.
Regal Rexnord Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Friday, December 29th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.40 dividend on an annualized basis and a yield of 1.21%. Regal Rexnord’s dividend payout ratio (DPR) is -777.78%.
Insider Buying and Selling at Regal Rexnord
In other Regal Rexnord news, Director Theodore D. Crandall bought 2,000 shares of the stock in a transaction on Tuesday, November 7th. The stock was purchased at an average price of $100.77 per share, with a total value of $201,540.00. Following the completion of the purchase, the director now owns 6,207 shares in the company, valued at $625,479.39. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In related news, VP John Avampato sold 8,427 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $151.83, for a total transaction of $1,279,471.41. Following the sale, the vice president now owns 12,953 shares of the company’s stock, valued at approximately $1,966,653.99. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Theodore D. Crandall bought 2,000 shares of the stock in a transaction on Tuesday, November 7th. The stock was purchased at an average cost of $100.77 per share, with a total value of $201,540.00. Following the acquisition, the director now owns 6,207 shares in the company, valued at $625,479.39. The disclosure for this purchase can be found here. Company insiders own 0.98% of the company’s stock.
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. It operates in four segments: Commercial Systems, Industrial Systems, Climate Solutions, and Motion Control Solutions.
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