Dimensional Fund Advisors LP Grows Stock Holdings in Regal Rexnord Co. (NYSE:RRX)

Dimensional Fund Advisors LP increased its stake in Regal Rexnord Co. (NYSE:RRX) by 0.6% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,422,350 shares of the company’s stock after buying an additional 8,159 shares during the period. Dimensional Fund Advisors LP’s holdings in Regal Rexnord were worth $192,338,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of Regal Rexnord by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 6,788,594 shares of the company’s stock worth $1,004,848,000 after acquiring an additional 24,847 shares during the last quarter. Capital World Investors boosted its stake in Regal Rexnord by 4.7% in the 1st quarter. Capital World Investors now owns 6,599,752 shares of the company’s stock worth $1,188,615,000 after purchasing an additional 296,941 shares in the last quarter. Diamond Hill Capital Management Inc. grew its position in Regal Rexnord by 7.1% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 3,181,886 shares of the company’s stock valued at $430,255,000 after purchasing an additional 209,776 shares during the last quarter. Victory Capital Management Inc. increased its stake in Regal Rexnord by 42.7% during the 2nd quarter. Victory Capital Management Inc. now owns 1,884,575 shares of the company’s stock valued at $254,832,000 after purchasing an additional 563,853 shares in the last quarter. Finally, Norges Bank purchased a new position in Regal Rexnord in the fourth quarter worth about $180,918,000. Institutional investors own 99.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on RRX shares. Loop Capital reiterated a “buy” rating and set a $200.00 price target on shares of Regal Rexnord in a report on Thursday. Barclays cut their target price on Regal Rexnord from $181.00 to $180.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. The Goldman Sachs Group boosted their price target on Regal Rexnord from $176.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Raymond James began coverage on Regal Rexnord in a research report on Friday, June 28th. They set a “market perform” rating on the stock. Finally, StockNews.com lowered Regal Rexnord from a “buy” rating to a “hold” rating in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $191.29.

Regal Rexnord Price Performance

Shares of NYSE:RRX opened at $174.41 on Friday. The stock’s 50-day simple moving average is $155.97 and its two-hundred day simple moving average is $157.00. Regal Rexnord Co. has a 52-week low of $97.18 and a 52-week high of $183.85. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.45 and a quick ratio of 1.38.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $2.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.14 by $0.15. Regal Rexnord had a negative net margin of 0.02% and a positive return on equity of 9.16%. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter last year, the firm posted $2.56 earnings per share. The firm’s revenue was down 12.5% compared to the same quarter last year. As a group, equities analysts forecast that Regal Rexnord Co. will post 9.53 earnings per share for the current year.

Regal Rexnord Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $1.40 annualized dividend and a dividend yield of 0.80%. Regal Rexnord’s dividend payout ratio (DPR) is -291.67%.

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.