Calamos Advisors LLC Buys 227,000 Shares of Regal Rexnord Corporation $RRX

Calamos Advisors LLC raised its stake in Regal Rexnord Corporation (NYSE:RRX) by 732.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 258,000 shares of the company’s stock after acquiring an additional 227,000 shares during the period. Calamos Advisors LLC owned approximately 0.39% of Regal Rexnord worth $40,018,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Clearstead Trust LLC acquired a new stake in shares of Regal Rexnord during the 2nd quarter worth $25,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Regal Rexnord during the second quarter worth about $27,000. Root Financial Partners LLC bought a new stake in Regal Rexnord during the third quarter worth about $41,000. FNY Investment Advisers LLC bought a new stake in Regal Rexnord during the second quarter worth about $43,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in Regal Rexnord during the second quarter worth about $43,000. 99.72% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RRX has been the subject of a number of research analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Regal Rexnord in a report on Thursday, October 15th. KeyCorp decreased their target price on Regal Rexnord from $265.00 to $240.00 and set an “overweight” rating on the stock in a research report on Thursday, August 6th. JPMorgan Chase & Co. reduced their price target on shares of Regal Rexnord from $240.00 to $196.00 and set an “overweight” rating on the stock in a research note on Friday, October 9th. The Goldman Sachs Group set a $216.00 price target on shares of Regal Rexnord in a report on Wednesday, September 30th. Finally, Citigroup increased their price objective on shares of Regal Rexnord from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $231.33.

Regal Rexnord Trading Up 5.5%

Shares of RRX stock traded up $8.76 during mid-day trading on Friday, reaching $169.06. 1,212,691 shares of the stock traded hands, compared to its average volume of 1,119,230. The company has a market cap of $11.26 billion, a price-to-earnings ratio of 48.86, a price-to-earnings-growth ratio of 1.28 and a beta of 1.09. The company has a quick ratio of 1.16, a current ratio of 2.28 and a debt-to-equity ratio of 0.66. The stock’s fifty day simple moving average is $158.26 and its two-hundred day simple moving average is $189.57. Regal Rexnord Corporation has a 1-year low of $127.96 and a 1-year high of $247.80.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings data on Tuesday, November 3rd. The company reported $2.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.65 by $0.25. Regal Rexnord had a net margin of 5.35% and a return on equity of 9.93%. The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same quarter last year, the business earned $2.51 EPS. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. On average, research analysts anticipate that Regal Rexnord Corporation will post 10.73 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 14th. Stockholders of record on Thursday, December 31st will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Thursday, December 31st. Regal Rexnord’s payout ratio is 40.46%.

Regal Rexnord Company Profile

Regal Rexnord Corporation is an industrial manufacturing company that develops and produces electric motors, power transmission components, motion-control systems and other equipment used in industrial and commercial applications. Its products include motors, gearboxes, bearings, couplings, belts, chains, drives, clutches, brakes and related controls, as well as air-moving and power-management solutions.

The company serves customers across industries such as automation, material handling, food and beverage, renewable energy, heating and ventilation, agriculture, and general industrial production.