Regal Rexnord Corporation $RRX Stock Holdings Lifted by Tectonic Advisors LLC

Tectonic Advisors LLC raised its position in Regal Rexnord Corporation (NYSE:RRX) by 16.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,266 shares of the company’s stock after purchasing an additional 463 shares during the quarter. Tectonic Advisors LLC’s holdings in Regal Rexnord were worth $474,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Diamond Hill Capital Management Inc. grew its stake in Regal Rexnord by 6.0% in the first quarter. Diamond Hill Capital Management Inc. now owns 3,083,622 shares of the company’s stock valued at $351,070,000 after purchasing an additional 175,273 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Regal Rexnord by 4.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,882,369 shares of the company’s stock valued at $328,158,000 after purchasing an additional 115,564 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Regal Rexnord by 11.9% during the 1st quarter. Victory Capital Management Inc. now owns 2,436,848 shares of the company’s stock worth $277,435,000 after acquiring an additional 259,885 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Regal Rexnord by 30.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,712,297 shares of the company’s stock worth $194,955,000 after acquiring an additional 396,737 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Regal Rexnord by 6.1% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,200,555 shares of the company’s stock worth $136,683,000 after acquiring an additional 69,438 shares in the last quarter. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Regal Rexnord Price Performance

NYSE RRX opened at $134.68 on Friday. Regal Rexnord Corporation has a twelve month low of $90.56 and a twelve month 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. The stock has a market capitalization of $8.94 billion, a PE ratio of 35.82, a P/E/G ratio of 1.46 and a beta of 1.16. The stock has a 50-day simple moving average of $145.19 and a 200 day simple moving average of $136.01.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings data 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%. Research analysts anticipate that Regal Rexnord Corporation will post 9.95 EPS for the current year.

Regal Rexnord Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 14th. Shareholders of record on Tuesday, September 30th will be given a $0.35 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.0%. Regal Rexnord’s dividend payout ratio (DPR) is currently 37.23%.

Analysts Set New Price Targets

RRX has been the subject of several recent analyst reports. Citigroup reiterated a “buy” rating and set a $165.00 price target (up previously from $145.00) on shares of Regal Rexnord in a research note on Tuesday, June 24th. Wall Street Zen downgraded Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research note on Sunday, September 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of Regal Rexnord in a research note on Wednesday. JPMorgan Chase & Co. initiated coverage on Regal Rexnord in a research note on Monday, September 15th. They set an “overweight” rating and a $200.00 price target for the company. Finally, The Goldman Sachs Group decreased their price target on Regal Rexnord from $192.00 to $170.00 and set a “buy” rating for the company in a research note on Tuesday, September 16th. Eight investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $181.63.

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.