Vestmark Advisory Solutions Inc. Purchases 5,327 Shares of Regal Rexnord Corporation $RRX

Vestmark Advisory Solutions Inc. boosted its position in shares of Regal Rexnord Corporation (NYSE:RRX) by 124.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,592 shares of the company’s stock after purchasing an additional 5,327 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Regal Rexnord were worth $1,390,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Innealta Capital LLC purchased a new position in shares of Regal Rexnord during the second quarter valued at $238,000. Savant Capital LLC bought a new stake in shares of Regal Rexnord in the 2nd quarter valued at about $322,000. Moors & Cabot Inc. purchased a new stake in shares of Regal Rexnord in the 2nd quarter worth approximately $440,000. iA Global Asset Management Inc. lifted its position in shares of Regal Rexnord by 11.2% in the 2nd quarter. iA Global Asset Management Inc. now owns 2,954 shares of the company’s stock worth $428,000 after purchasing an additional 298 shares during the period. Finally, Tredje AP fonden boosted its stake in shares of Regal Rexnord by 48.1% during the second quarter. Tredje AP fonden now owns 10,778 shares of the company’s stock valued at $1,562,000 after purchasing an additional 3,500 shares in the last quarter. Institutional investors own 99.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on RRX shares. The Goldman Sachs Group lowered their target price on Regal Rexnord from $192.00 to $170.00 and set a “buy” rating for the company in a report on Tuesday, September 16th. Zacks Research lowered Regal Rexnord from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 4th. Robert W. Baird set a $212.00 price objective on Regal Rexnord in a research report on Friday, October 31st. KeyCorp cut their target price on Regal Rexnord from $180.00 to $170.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 14th. Finally, Barclays reissued an “overweight” rating and set a $165.00 price target on shares of Regal Rexnord in a research report on Monday, November 3rd. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $184.63.

Regal Rexnord Price Performance

Shares of NYSE RRX opened at $136.04 on Monday. Regal Rexnord Corporation has a fifty-two week low of $90.56 and a fifty-two week high of $182.70. The company has a market cap of $9.03 billion, a PE ratio of 35.15, a P/E/G 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 business has a 50-day simple moving average of $143.26 and a two-hundred day simple moving average of $142.04.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings data on Friday, September 8th. The company reported $2.76 EPS for the quarter. The firm had revenue of $1.85 billion during the quarter. Regal Rexnord had a net margin of 4.38% and a return on equity of 9.75%. As a group, equities analysts expect 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 paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Wednesday, December 31st. Regal Rexnord’s payout ratio is presently 36.18%.

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.