Regal Rexnord Co. (NYSE:RRX) Shares Bought by UMB Bank n.a.

UMB Bank n.a. grew its stake in shares of Regal Rexnord Co. (NYSE:RRX) by 72.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 345 shares of the company’s stock after acquiring an additional 145 shares during the period. UMB Bank n.a.’s holdings in Regal Rexnord were worth $57,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of RRX. Rise Advisors LLC acquired a new position in shares of Regal Rexnord during the 1st quarter valued at about $33,000. Headlands Technologies LLC bought a new stake in Regal Rexnord during the 2nd quarter worth about $46,000. 1620 Investment Advisors Inc. bought a new stake in Regal Rexnord during the 2nd quarter worth about $52,000. EntryPoint Capital LLC bought a new stake in Regal Rexnord during the 1st quarter worth about $68,000. Finally, Riverview Trust Co acquired a new position in Regal Rexnord during the 1st quarter valued at about $75,000. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Regal Rexnord Price Performance

NYSE:RRX opened at $177.33 on Tuesday. Regal Rexnord Co. has a 1-year low of $97.18 and a 1-year high of $183.85. The company has a current ratio of 2.45, a quick ratio of 1.38 and a debt-to-equity ratio of 0.91. The firm has a fifty day simple moving average of $160.37 and a 200 day simple moving average of $155.91. The stock has a market capitalization of $11.80 billion, a PE ratio of -367.83, a P/E/G ratio of 1.76 and a beta of 1.04.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.15. Regal Rexnord had a positive return on equity of 9.16% and a negative net margin of 0.02%. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter last year, the firm posted $2.56 EPS. The company’s quarterly revenue was down 12.5% on a year-over-year basis. On average, research analysts expect that Regal Rexnord Co. will post 9.48 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend was Friday, September 27th. Regal Rexnord’s dividend payout ratio is currently -291.67%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. 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 research report on Monday, July 15th. Loop Capital reiterated a “buy” rating and issued a $200.00 price target on shares of Regal Rexnord in a research report on Thursday, September 19th. The Goldman Sachs Group increased their target price on Regal Rexnord from $176.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. StockNews.com cut Regal Rexnord from a “buy” rating to a “hold” rating in a research note on Tuesday, October 8th. Finally, Citigroup initiated coverage on Regal Rexnord in a research note on Monday. They set a “buy” rating and a $200.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $193.63.

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.