Howe & Rusling Inc. Invests $6.57 Million in Regal Rexnord Corporation $RRX

Howe & Rusling Inc. purchased a new position in Regal Rexnord Corporation (NYSE:RRX) during the 2nd quarter, Holdings Channel reports. The fund purchased 45,345 shares of the company’s stock, valued at approximately $6,573,000.

Other large investors also recently added to or reduced their stakes in the company. Wealthspire Advisors LLC increased its position in shares of Regal Rexnord by 7.5% during the second quarter. Wealthspire Advisors LLC now owns 5,106 shares of the company’s stock worth $740,000 after acquiring an additional 356 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in shares of Regal Rexnord by 0.9% in the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 14,606 shares of the company’s stock valued at $2,117,000 after purchasing an additional 126 shares during the period. Waratah Capital Advisors Ltd. grew its stake in Regal Rexnord by 36.0% in the second quarter. Waratah Capital Advisors Ltd. now owns 89,559 shares of the company’s stock worth $12,982,000 after purchasing an additional 23,700 shares in the last quarter. Cetera Investment Advisers increased its holdings in Regal Rexnord by 6.7% during the 2nd quarter. Cetera Investment Advisers now owns 3,116 shares of the company’s stock worth $452,000 after purchasing an additional 196 shares during the period. Finally, SG Americas Securities LLC purchased a new position in Regal Rexnord during the 2nd quarter worth $1,402,000. 99.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on RRX shares. Robert W. Baird set a $212.00 price target on Regal Rexnord in a research report on Friday, October 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of Regal Rexnord in a report on Wednesday, October 8th. Barclays reissued an “overweight” rating and set a $165.00 target price on shares of Regal Rexnord in a research report on Monday, November 3rd. The Goldman Sachs Group lowered their price target on shares of Regal Rexnord from $192.00 to $170.00 and set a “buy” rating for the company in a research report on Tuesday, September 16th. Finally, JPMorgan Chase & Co. cut their price objective on shares of 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 assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $184.63.

Regal Rexnord Stock Performance

RRX stock opened at $131.02 on Thursday. Regal Rexnord Corporation has a one year low of $90.56 and a one year high of $182.70. The firm has a market cap of $8.70 billion, a price-to-earnings ratio of 33.86, a PEG 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 firm has a 50-day simple moving average of $141.51 and a two-hundred day simple moving average of $143.28.

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

Regal Rexnord Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 14th. Stockholders of record on Wednesday, December 31st will be issued a dividend of $0.35 per share. The ex-dividend date is Wednesday, December 31st. This represents a $1.40 annualized dividend and a dividend yield of 1.1%. Regal Rexnord’s dividend payout ratio is 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.