XTX Topco Ltd Buys 5,942 Shares of Regal Rexnord Co. (NYSE:RRX)

XTX Topco Ltd grew its stake in shares of Regal Rexnord Co. (NYSE:RRX) by 159.6% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 9,665 shares of the company’s stock after acquiring an additional 5,942 shares during the period. XTX Topco Ltd’s holdings in Regal Rexnord were worth $1,307,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Rise Advisors LLC acquired a new stake in shares of Regal Rexnord during the 1st quarter valued at $33,000. Headlands Technologies LLC acquired a new stake in shares of Regal Rexnord during the second quarter valued at about $46,000. 1620 Investment Advisors Inc. bought a new stake in shares of Regal Rexnord during the second quarter worth about $52,000. EntryPoint Capital LLC bought a new stake in shares of Regal Rexnord during the first quarter worth about $68,000. Finally, Riverview Trust Co acquired a new position in shares of Regal Rexnord in the first quarter valued at approximately $75,000. Institutional investors own 99.72% of the company’s stock.

Wall Street Analysts Forecast Growth

RRX has been the topic of several recent research reports. Barclays cut their target price on shares of Regal Rexnord from $181.00 to $180.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. KeyCorp cut their price target on shares of Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. The Goldman Sachs Group increased their price objective on Regal Rexnord from $176.00 to $195.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Loop Capital reaffirmed a “buy” rating and set a $200.00 target price on shares of Regal Rexnord in a report on Thursday. 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 issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $191.29.

Regal Rexnord Price Performance

Shares of NYSE RRX opened at $169.67 on Friday. The company has a quick ratio of 1.38, a current ratio of 2.45 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $11.29 billion, a PE ratio of -353.48, a P/E/G ratio of 1.64 and a beta of 1.04. The firm has a fifty day simple moving average of $156.45 and a 200 day simple moving average of $156.98. Regal Rexnord Co. has a twelve month low of $97.18 and a twelve month high of $183.85.

Regal Rexnord (NYSE:RRX) last announced its earnings results on Wednesday, July 31st. The company reported $2.29 EPS for the quarter, beating the consensus estimate of $2.14 by $0.15. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.51 billion. Regal Rexnord had a positive return on equity of 9.16% and a negative net margin of 0.02%. The firm’s revenue for the quarter was down 12.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.56 EPS. On average, sell-side analysts forecast that Regal Rexnord Co. will post 9.53 EPS 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 is Friday, September 27th. This represents a $1.40 annualized dividend and a dividend yield of 0.83%. Regal Rexnord’s dividend payout ratio is currently -291.67%.

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. 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.