1,637 Shares in Regal Rexnord Co. (NYSE:RRX) Bought by Ritholtz Wealth Management

Ritholtz Wealth Management bought a new stake in Regal Rexnord Co. (NYSE:RRX) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 1,637 shares of the company’s stock, valued at approximately $271,000.

Other large investors have also added to or reduced their stakes in the company. UMB Bank n.a. grew its position in shares of Regal Rexnord by 72.5% in the 3rd quarter. UMB Bank n.a. now owns 345 shares of the company’s stock worth $57,000 after buying an additional 145 shares during the last quarter. GAMMA Investing LLC boosted its stake in Regal Rexnord by 30.0% in the third quarter. GAMMA Investing LLC now owns 841 shares of the company’s stock valued at $140,000 after acquiring an additional 194 shares in the last quarter. Handelsbanken Fonder AB grew its holdings in Regal Rexnord by 21.9% in the third quarter. Handelsbanken Fonder AB now owns 15,614 shares of the company’s stock worth $2,590,000 after purchasing an additional 2,800 shares during the last quarter. American Trust acquired a new position in shares of Regal Rexnord during the second quarter worth $218,000. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Regal Rexnord during the 2nd quarter valued at $263,000. 99.72% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

RRX has been the topic of a number of research analyst reports. 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. StockNews.com upgraded shares of Regal Rexnord from a “hold” rating to a “buy” rating in a research note on Wednesday. Raymond James began coverage on shares of Regal Rexnord in a research note on Friday, June 28th. They set a “market perform” rating for the company. Robert W. Baird upped their target price on Regal Rexnord from $208.00 to $213.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Finally, Loop Capital reaffirmed a “buy” rating and set a $200.00 price target on shares of Regal Rexnord in a research report on Thursday, September 19th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $193.63.

Regal Rexnord Trading Down 0.7 %

NYSE RRX opened at $176.54 on Friday. The stock has a 50-day simple moving average of $162.49 and a two-hundred day simple moving average of $156.15. The company has a current ratio of 2.45, a quick ratio of 1.38 and a debt-to-equity ratio of 0.91. Regal Rexnord Co. has a fifty-two week low of $97.18 and a fifty-two week high of $183.85.

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 analysts’ consensus estimates of $2.14 by $0.15. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.51 billion. Regal Rexnord had a positive return on equity of 9.16% and a negative net margin of 0.02%. Regal Rexnord’s revenue for the quarter was down 12.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.56 earnings per share. As a group, equities research analysts forecast that Regal Rexnord Co. will post 9.48 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $1.40 annualized dividend and a yield of 0.79%. Regal Rexnord’s dividend payout ratio is presently -7,000.00%.

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.