Sanctuary Advisors LLC Invests $263,000 in Regal Rexnord Co. (NYSE:RRX)

Sanctuary Advisors LLC bought a new position in Regal Rexnord Co. (NYSE:RRX) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 1,944 shares of the company’s stock, valued at approximately $263,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Headlands Technologies LLC purchased a new position in Regal Rexnord during the 2nd quarter valued at $46,000. 1620 Investment Advisors Inc. purchased a new position in Regal Rexnord during the 2nd quarter valued at $52,000. EntryPoint Capital LLC purchased a new position in Regal Rexnord during the 1st quarter valued at $68,000. Riverview Trust Co purchased a new position in Regal Rexnord during the 1st quarter valued at $75,000. Finally, GAMMA Investing LLC boosted its holdings in Regal Rexnord by 13.9% during the 2nd quarter. GAMMA Investing LLC now owns 647 shares of the company’s stock valued at $87,000 after acquiring an additional 79 shares during the period. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Regal Rexnord Stock Up 0.3 %

Regal Rexnord stock opened at $177.08 on Friday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.38 and a current ratio of 2.45. The business’s 50-day simple moving average is $162.96 and its two-hundred day simple moving average is $156.03. The company has a market cap of $11.78 billion, a PE ratio of -368.92, a PEG ratio of 1.87 and a beta of 1.04. 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 posted its quarterly earnings results on Wednesday, July 31st. The company reported $2.29 earnings per share 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 for the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the previous year, the business earned $2.56 EPS. The company’s quarterly revenue was down 12.5% compared to the same quarter last year. Equities analysts anticipate that Regal Rexnord Co. will post 9.48 EPS for the current year.

Regal Rexnord Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on RRX shares. The Goldman Sachs Group lifted their target price on Regal Rexnord from $176.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Raymond James started coverage on Regal Rexnord in a research report on Friday, June 28th. They set a “market perform” rating for the company. KeyCorp decreased their target price on Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Citigroup assumed coverage on Regal Rexnord in a research report on Monday, October 14th. They issued a “buy” rating and a $200.00 price target for the company. Finally, Barclays boosted their price target on Regal Rexnord from $180.00 to $190.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $193.63.

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.