Regal Rexnord Corporation $RRX Stock Position Reduced by Leeward Investments LLC MA

Leeward Investments LLC MA lowered its stake in Regal Rexnord Corporation (NYSE:RRX) by 2.8% during the 2nd quarter, Holdings Channel reports. The firm owned 185,875 shares of the company’s stock after selling 5,403 shares during the quarter. Regal Rexnord makes up about 1.4% of Leeward Investments LLC MA’s holdings, making the stock its 8th biggest position. Leeward Investments LLC MA’s holdings in Regal Rexnord were worth $26,944,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. Linden Thomas Advisory Services LLC purchased a new stake in Regal Rexnord in the 2nd quarter worth $254,000. AlphaQuest LLC lifted its stake in Regal Rexnord by 35.2% in the 2nd quarter. AlphaQuest LLC now owns 3,335 shares of the company’s stock worth $483,000 after purchasing an additional 869 shares in the last quarter. First Citizens Bank & Trust Co. purchased a new stake in shares of Regal Rexnord during the 2nd quarter valued at about $733,000. Rehmann Capital Advisory Group purchased a new stake in Regal Rexnord during the second quarter valued at approximately $250,000. Finally, Phoenix Financial Ltd. bought a new stake in shares of Regal Rexnord in the 2nd quarter valued at approximately $673,000. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Regal Rexnord Stock Performance

Shares of NYSE:RRX opened at $147.53 on Friday. The firm has a market cap of $9.79 billion, a PE ratio of 39.24, a price-to-earnings-growth ratio of 1.48 and a beta of 1.16. The firm’s 50 day simple moving average is $145.02 and its 200-day simple moving average is $138.65. Regal Rexnord Corporation has a one year low of $90.56 and a one year high of $185.28. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 2.00.

Regal Rexnord (NYSE:RRX) last issued its 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 during the quarter. Regal Rexnord had a return on equity of 9.73% and a net margin of 4.28%. As a group, equities analysts predict that Regal Rexnord Corporation will post 9.95 EPS for the current year.

Regal Rexnord Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 14th. Shareholders of record on Wednesday, December 31st will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $1.40 dividend on an annualized basis and a yield of 0.9%. Regal Rexnord’s payout ratio is 37.23%.

Analysts Set New Price Targets

Several analysts recently weighed in on RRX shares. Wall Street Zen lowered Regal Rexnord from a “strong-buy” rating to a “buy” rating in a report on Sunday, September 21st. Weiss Ratings restated a “hold (c)” rating on shares of Regal Rexnord in a research report on Saturday. KeyCorp lowered their price target 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. initiated coverage on shares of Regal Rexnord in a research report on Monday, September 15th. They issued an “overweight” rating and a $200.00 price objective on the stock. Finally, Barclays reduced their price objective on shares of Regal Rexnord from $163.00 to $161.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 16th. Eight analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $180.38.

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.