S&CO Inc. Invests $231,000 in Regal Rexnord Corporation $RRX

S&CO Inc. purchased a new position in Regal Rexnord Corporation (NYSE:RRX) during the second quarter, HoldingsChannel reports. The firm purchased 1,600 shares of the company’s stock, valued at approximately $231,000.

Several other institutional investors also recently added to or reduced their stakes in RRX. First Citizens Bank & Trust Co. purchased a new position in shares of Regal Rexnord during the second quarter valued at $733,000. Phoenix Financial Ltd. bought a new position in Regal Rexnord during the 2nd quarter worth about $673,000. Nordea Investment Management AB bought a new position in Regal Rexnord during the 2nd quarter worth about $224,889,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Regal Rexnord during the 2nd quarter valued at about $3,229,000. Finally, Hantz Financial Services Inc. raised its holdings in shares of Regal Rexnord by 16.8% in the 2nd quarter. Hantz Financial Services Inc. now owns 133,077 shares of the company’s stock valued at $19,291,000 after purchasing an additional 19,127 shares in the last quarter. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on RRX. JPMorgan Chase & Co. dropped their price objective on shares of Regal Rexnord from $200.00 to $190.00 and set an “overweight” rating on the stock in a research note on Friday, October 31st. The Goldman Sachs Group lowered their target price on Regal Rexnord from $192.00 to $170.00 and set a “buy” rating for the company in a report on Tuesday, September 16th. KeyCorp cut their price target on Regal Rexnord from $180.00 to $170.00 and set an “overweight” rating on the stock in a report on Tuesday, October 14th. Zacks Research lowered Regal Rexnord from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 4th. Finally, Wall Street Zen cut Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research note on Sunday, September 21st. Eight equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $184.63.

Regal Rexnord Price Performance

Shares of NYSE RRX opened at $136.04 on Monday. Regal Rexnord Corporation has a fifty-two week low of $90.56 and a fifty-two week high of $182.70. The company has a market cap of $9.03 billion, a PE ratio of 35.15, a P/E/G ratio of 1.52 and a beta of 1.19. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 2.00. The business has a 50-day simple moving average of $143.26 and a two-hundred day simple moving average of $142.04.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings data on Friday, September 8th. The company reported $2.76 EPS for the quarter. The firm had revenue of $1.85 billion during the quarter. Regal Rexnord had a net margin of 4.38% and a return on equity of 9.75%. As a group, equities analysts expect that Regal Rexnord Corporation will post 9.95 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 14th. Shareholders of record on Wednesday, December 31st will be issued a $0.35 dividend. The ex-dividend date of this dividend 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 (DPR) is currently 36.18%.

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.