Steph & Co. Purchases 830 Shares of Regal Rexnord Co. (NYSE:RRX)

Steph & Co. raised its stake in shares of Regal Rexnord Co. (NYSE:RRX) by 19.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,096 shares of the company’s stock after acquiring an additional 830 shares during the quarter. Steph & Co.’s holdings in Regal Rexnord were worth $918,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Regal Rexnord by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 6,788,594 shares of the company’s stock valued at $1,004,848,000 after acquiring an additional 24,847 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Regal Rexnord by 4.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,532,578 shares of the company’s stock valued at $522,892,000 after buying an additional 135,154 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Regal Rexnord by 2.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,397,492 shares of the company’s stock valued at $206,862,000 after buying an additional 30,688 shares in the last quarter. Norges Bank acquired a new stake in shares of Regal Rexnord in the fourth quarter valued at $180,918,000. Finally, Franklin Resources Inc. increased its stake in shares of Regal Rexnord by 87.3% in the fourth quarter. Franklin Resources Inc. now owns 1,001,545 shares of the company’s stock valued at $148,249,000 after buying an additional 466,820 shares in the last quarter. 99.72% of the stock is owned by institutional investors.

Regal Rexnord Trading Up 1.8 %

Shares of RRX stock traded up $2.61 on Monday, reaching $143.73. The company had a trading volume of 96,234 shares, compared to its average volume of 447,079. The company has a current ratio of 2.62, a quick ratio of 1.56 and a debt-to-equity ratio of 0.99. The stock has a market cap of $9.56 billion, a PE ratio of -294.00, a PEG ratio of 1.43 and a beta of 1.10. The company has a 50-day moving average of $153.86 and a 200-day moving average of $154.61. Regal Rexnord Co. has a 12 month low of $97.18 and a 12 month high of $183.85.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings data on Monday, May 6th. The company reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.02. Regal Rexnord had a positive return on equity of 9.42% and a negative net margin of 0.48%. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same period in the previous year, the firm earned $2.22 EPS. Regal Rexnord’s quarterly revenue was up 26.4% compared to the same quarter last year. On average, equities analysts forecast that Regal Rexnord Co. will post 9.82 earnings per share for the current year.

Regal Rexnord Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be given a $0.35 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.40 annualized dividend and a dividend yield of 0.97%. Regal Rexnord’s dividend payout ratio is presently -291.67%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on RRX. KeyCorp raised their target price on Regal Rexnord from $180.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, March 25th. Oppenheimer boosted their price objective on Regal Rexnord from $185.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, March 13th. Barclays dropped their price objective on Regal Rexnord from $199.00 to $181.00 and set an “overweight” rating for the company in a report on Tuesday, June 4th. Robert W. Baird boosted their price objective on Regal Rexnord from $205.00 to $208.00 and gave the stock an “outperform” rating in a report on Wednesday, May 8th. Finally, StockNews.com raised Regal Rexnord from a “hold” rating to a “buy” rating in a report on Tuesday, June 18th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $192.00.

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.