Tectonic Advisors LLC Raises Holdings in Regal Rexnord Co. (NYSE:RRX)

Tectonic Advisors LLC lifted its stake in Regal Rexnord Co. (NYSE:RRX) by 9.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,987 shares of the company’s stock after acquiring an additional 170 shares during the period. Tectonic Advisors LLC’s holdings in Regal Rexnord were worth $330,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. International Assets Investment Management LLC raised its holdings in shares of Regal Rexnord by 87,585.7% in the third quarter. International Assets Investment Management LLC now owns 6,138 shares of the company’s stock worth $1,018,000 after buying an additional 6,131 shares during the last quarter. Greenleaf Trust increased its position in shares of Regal Rexnord by 3.4% in the 3rd quarter. Greenleaf Trust now owns 5,064 shares of the company’s stock valued at $840,000 after acquiring an additional 166 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Regal Rexnord by 2.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 474,090 shares of the company’s stock worth $78,642,000 after acquiring an additional 12,338 shares during the last quarter. Raymond James & Associates lifted its position in Regal Rexnord by 1.1% during the 3rd quarter. Raymond James & Associates now owns 116,222 shares of the company’s stock worth $19,279,000 after acquiring an additional 1,274 shares during the period. Finally, Blue Trust Inc. grew its stake in Regal Rexnord by 28.7% during the 3rd quarter. Blue Trust Inc. now owns 4,225 shares of the company’s stock valued at $701,000 after purchasing an additional 943 shares during the last quarter. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on RRX shares. Citigroup started coverage on Regal Rexnord in a research note on Monday, October 14th. They issued a “buy” rating and a $200.00 price objective for the company. Loop Capital reissued a “buy” rating and set a $200.00 price target on shares of Regal Rexnord in a research report on Thursday, September 19th. Barclays lifted their price objective on shares of Regal Rexnord from $180.00 to $190.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. The Goldman Sachs Group increased their price objective on shares of Regal Rexnord from $176.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, KeyCorp decreased their target price on shares of Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Regal Rexnord presently has an average rating of “Moderate Buy” and an average price target of $193.63.

Regal Rexnord Stock Down 1.0 %

RRX stock opened at $166.43 on Friday. Regal Rexnord Co. has a one year low of $97.18 and a one year high of $183.85. 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 firm’s fifty day moving average is $164.34 and its 200 day moving average is $155.90. The firm has a market cap of $11.07 billion, a PE ratio of -346.73, a P/E/G ratio of 1.79 and a beta of 1.04.

Regal Rexnord (NYSE:RRX) last posted its earnings results on Wednesday, July 31st. The company reported $2.29 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same period in the prior year, the company posted $2.56 EPS. The company’s revenue for the quarter was down 12.5% on a year-over-year basis. On average, research analysts forecast that Regal Rexnord Co. will post 9.48 EPS for the current year.

Regal Rexnord Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date is Tuesday, December 31st. Regal Rexnord’s dividend payout ratio (DPR) is presently -291.67%.

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.