Mayfair Advisory Group LLC Acquires Shares of 1,966 Regal Rexnord Corporation $RRX

Mayfair Advisory Group LLC bought a new position in Regal Rexnord Corporation (NYSE:RRX) in the second quarter, HoldingsChannel reports. The firm bought 1,966 shares of the company’s stock, valued at approximately $273,000.

Several other hedge funds also recently added to or reduced their stakes in RRX. Geneos Wealth Management Inc. grew its stake in Regal Rexnord by 135.1% in the first quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock worth $25,000 after purchasing an additional 127 shares in the last quarter. Allworth Financial LP boosted its stake in shares of Regal Rexnord by 85.7% during the second quarter. Allworth Financial LP now owns 195 shares of the company’s stock valued at $28,000 after purchasing an additional 90 shares in the last quarter. Tobam lifted its holdings in Regal Rexnord by 54.8% during the second quarter. Tobam now owns 308 shares of the company’s stock worth $45,000 after buying an additional 109 shares during the period. Jones Financial Companies Lllp raised its position in shares of Regal Rexnord by 91.6% in the 1st quarter. Jones Financial Companies Lllp now owns 617 shares of the company’s stock worth $70,000 after acquiring an additional 295 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new position in Regal Rexnord in the first quarter valued at about $81,000. 99.72% of the stock is currently owned by institutional investors.

Insider Activity

In other Regal Rexnord news, CEO Louis V. Pinkham sold 35,935 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $146.20, for a total value of $5,253,697.00. Following the transaction, the chief executive officer owned 103,262 shares of the company’s stock, valued at $15,096,904.40. This represents a 25.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.82% of the company’s stock.

Regal Rexnord Stock Performance

RRX opened at $145.84 on Thursday. Regal Rexnord Corporation has a 52-week low of $90.56 and a 52-week high of $177.48. The company has a quick ratio of 0.93, a current ratio of 2.00 and a debt-to-equity ratio of 0.72. The firm’s fifty day simple moving average is $141.43 and its two-hundred day simple moving average is $143.77. The company has a market cap of $9.68 billion, a price-to-earnings ratio of 37.69, a PEG ratio of 1.52 and a beta of 1.19.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings results on Friday, September 8th. The company reported $2.76 earnings per share (EPS) for the quarter. The firm had revenue of $1.85 billion for the quarter. Regal Rexnord had a return on equity of 9.75% and a net margin of 4.38%. Equities analysts anticipate that Regal Rexnord Corporation will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 14th. Stockholders of record on Wednesday, December 31st will be issued a dividend of $0.35 per share. The ex-dividend date is Wednesday, December 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.0%. Regal Rexnord’s dividend payout ratio is currently 36.18%.

Wall Street Analyst Weigh In

RRX has been the subject of a number of recent analyst reports. KeyCorp lowered their price objective on Regal Rexnord from $180.00 to $170.00 and set an “overweight” rating for the company in a research report on Tuesday, October 14th. JPMorgan Chase & Co. dropped their target price on shares of Regal Rexnord from $200.00 to $190.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. Barclays reissued an “overweight” rating and set a $165.00 price objective on shares of Regal Rexnord in a report on Monday, November 3rd. The Goldman Sachs Group cut their price objective on Regal Rexnord from $192.00 to $170.00 and set a “buy” rating on the stock in a report on Tuesday, September 16th. Finally, Zacks Research lowered shares of Regal Rexnord from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 4th. Eight research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Regal Rexnord currently has an average rating of “Moderate Buy” and an average price target of $184.63.

Regal Rexnord Company 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.