Squarepoint Ops LLC Purchases New Shares in Regal Rexnord Co. (NYSE:RRX)

Squarepoint Ops LLC acquired a new position in Regal Rexnord Co. (NYSE:RRX) during the second quarter, according to the company in its most recent filing with the SEC. The fund acquired 15,217 shares of the company’s stock, valued at approximately $2,058,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rise Advisors LLC acquired a new position in shares of Regal Rexnord in the first quarter worth about $33,000. Headlands Technologies LLC purchased a new position in shares of Regal Rexnord during the 2nd quarter valued at approximately $46,000. EntryPoint Capital LLC acquired a new stake in shares of Regal Rexnord during the first quarter worth approximately $68,000. 1620 Investment Advisors Inc. bought a new stake in shares of Regal Rexnord in the second quarter worth $52,000. Finally, Riverview Trust Co acquired a new stake in Regal Rexnord in the first quarter valued at $75,000. 99.72% of the stock is owned by hedge funds and other institutional investors.

Regal Rexnord Stock Performance

RRX stock opened at $163.85 on Friday. Regal Rexnord Co. has a 1 year low of $97.18 and a 1 year high of $183.85. The stock has a market capitalization of $10.90 billion, a price-to-earnings ratio of -341.35, a PEG ratio of 1.76 and a beta of 1.04. 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 stock’s fifty day moving average is $158.91 and its two-hundred day moving average is $156.61.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings data 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 negative net margin of 0.02% and a positive return on equity of 9.16%. The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same period last year, the firm posted $2.56 EPS. Regal Rexnord’s quarterly revenue was down 12.5% compared to the same quarter last year. On average, research analysts predict that Regal Rexnord Co. will post 9.48 EPS for the current year.

Regal Rexnord Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date is Friday, September 27th. Regal Rexnord’s dividend payout ratio (DPR) is -291.67%.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. The Goldman Sachs Group boosted their target price on shares of Regal Rexnord from $176.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Barclays boosted their price objective on Regal Rexnord from $180.00 to $190.00 and gave the company an “overweight” rating in a report on Wednesday. Robert W. Baird increased their target price on Regal Rexnord from $208.00 to $213.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Raymond James began coverage on Regal Rexnord in a report on Friday, June 28th. They issued a “market perform” rating for the company. Finally, Loop Capital reaffirmed a “buy” rating and issued a $200.00 price objective on shares of Regal Rexnord in a report on Thursday, September 19th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $192.71.

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.