Park Avenue Securities LLC Has $261,000 Stock Holdings in Regal Rexnord Co. (NYSE:RRX)

Park Avenue Securities LLC cut its position in shares of Regal Rexnord Co. (NYSE:RRX) by 9.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,452 shares of the company’s stock after selling 148 shares during the quarter. Park Avenue Securities LLC’s holdings in Regal Rexnord were worth $261,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in RRX. Hsbc Holdings PLC grew its position in Regal Rexnord by 27.4% during the third quarter. Hsbc Holdings PLC now owns 2,902 shares of the company’s stock worth $415,000 after buying an additional 625 shares in the last quarter. Mariner LLC lifted its stake in Regal Rexnord by 2.1% during the third quarter. Mariner LLC now owns 5,525 shares of the company’s stock worth $789,000 after purchasing an additional 113 shares during the period. O Shaughnessy Asset Management LLC lifted its stake in Regal Rexnord by 7.1% during the third quarter. O Shaughnessy Asset Management LLC now owns 3,834 shares of the company’s stock worth $548,000 after purchasing an additional 253 shares during the period. Treasurer of the State of North Carolina lifted its stake in Regal Rexnord by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 29,965 shares of the company’s stock worth $4,281,000 after purchasing an additional 153 shares during the period. Finally, Qube Research & Technologies Ltd lifted its stake in Regal Rexnord by 1,488.4% during the third quarter. Qube Research & Technologies Ltd now owns 50,592 shares of the company’s stock worth $7,229,000 after purchasing an additional 47,407 shares during the period. 99.72% of the stock is owned by institutional investors and hedge funds.

Regal Rexnord Stock Performance

RRX stock opened at $132.13 on Tuesday. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.62 and a quick ratio of 1.56. The company has a 50 day moving average price of $150.99 and a 200 day moving average price of $154.81. Regal Rexnord Co. has a fifty-two week low of $97.18 and a fifty-two week high of $183.85. The stock has a market capitalization of $8.79 billion, a PE ratio of -275.27, a price-to-earnings-growth ratio of 1.38 and a beta of 1.06.

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

Regal Rexnord Announces Dividend

The business 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. This represents a $1.40 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend is Friday, June 28th. Regal Rexnord’s dividend payout ratio (DPR) is presently -291.67%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on RRX shares. Raymond James started coverage on shares of Regal Rexnord in a research note on Friday. They set a “market perform” rating for the company. KeyCorp raised their price target on shares of Regal Rexnord from $180.00 to $210.00 and gave the stock an “overweight” rating in a research note on Monday, March 25th. StockNews.com upgraded shares of Regal Rexnord from a “hold” rating to a “buy” rating in a research note on Wednesday, June 26th. Oppenheimer lifted their target price on shares of Regal Rexnord from $185.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, March 13th. Finally, Barclays cut their target price on shares of Regal Rexnord from $199.00 to $181.00 and set an “overweight” rating for the company in a research note on Tuesday, June 4th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $192.00.

Regal Rexnord 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.