Segall Bryant & Hamill LLC Increases Position in Regal Rexnord Corporation $RRX

Segall Bryant & Hamill LLC lifted its holdings in shares of Regal Rexnord Corporation (NYSE:RRX) by 3.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 39,396 shares of the company’s stock after buying an additional 1,171 shares during the period. Segall Bryant & Hamill LLC owned approximately 0.06% of Regal Rexnord worth $5,711,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Allworth Financial LP lifted its position in Regal Rexnord by 85.7% during the 2nd quarter. Allworth Financial LP now owns 195 shares of the company’s stock worth $28,000 after acquiring an additional 90 shares during the period. Louisiana State Employees Retirement System lifted its holdings in shares of Regal Rexnord by 0.5% during the second quarter. Louisiana State Employees Retirement System now owns 18,700 shares of the company’s stock worth $2,711,000 after purchasing an additional 100 shares during the period. Cetera Investment Advisers grew its position in Regal Rexnord by 3.6% in the 1st quarter. Cetera Investment Advisers now owns 2,920 shares of the company’s stock valued at $332,000 after buying an additional 102 shares during the last quarter. Tobam increased its stake in Regal Rexnord by 54.8% in the 2nd quarter. Tobam now owns 308 shares of the company’s stock valued at $45,000 after buying an additional 109 shares during the period. Finally, Intech Investment Management LLC raised its position in Regal Rexnord by 0.5% during the 1st quarter. Intech Investment Management LLC now owns 25,490 shares of the company’s stock worth $2,902,000 after buying an additional 120 shares during the last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Robert W. Baird set a $212.00 price target on shares of Regal Rexnord in a research note on Friday, October 31st. Barclays reaffirmed an “overweight” rating and issued a $165.00 price objective on shares of Regal Rexnord in a report on Monday, November 3rd. Zacks Research downgraded Regal Rexnord from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 4th. The Goldman Sachs Group reduced their price target on Regal Rexnord from $192.00 to $170.00 and set a “buy” rating for the company in a report on Tuesday, September 16th. Finally, JPMorgan Chase & Co. dropped their price objective on Regal Rexnord from $200.00 to $190.00 and set an “overweight” rating on the stock in a report on Friday, October 31st. Eight analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $184.63.

Regal Rexnord Price Performance

RRX stock opened at $137.56 on Monday. The firm has a 50 day moving average of $141.17 and a 200-day moving average of $143.59. The company has a market cap of $9.13 billion, a price-to-earnings ratio of 35.54, a PEG ratio of 1.52 and a beta of 1.19. The company has a current ratio of 2.00, a quick ratio of 0.93 and a debt-to-equity ratio of 0.72. Regal Rexnord Corporation has a 12-month low of $90.56 and a 12-month high of $182.70.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings results on Friday, September 8th. The company reported $2.76 earnings per share for the quarter. The business 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%. 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 company also recently declared a quarterly dividend, which will be paid on Wednesday, January 14th. Stockholders of record on Wednesday, December 31st will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, December 31st. Regal Rexnord’s payout ratio is 36.18%.

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.