Creative Planning boosted its holdings in shares of Regal Rexnord Co. (NYSE:RRX – Free Report) by 28.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,805 shares of the company’s stock after buying an additional 622 shares during the quarter. Creative Planning’s holdings in Regal Rexnord were worth $379,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in RRX. Rise Advisors LLC acquired a new position in shares of Regal Rexnord in the 1st quarter worth approximately $33,000. Headlands Technologies LLC bought a new position in Regal Rexnord during the second quarter worth about $46,000. EntryPoint Capital LLC bought a new position in shares of Regal Rexnord during the 1st quarter valued at about $68,000. 1620 Investment Advisors Inc. acquired a new stake in Regal Rexnord in the 2nd quarter valued at approximately $52,000. Finally, Riverview Trust Co acquired a new stake in Regal Rexnord in the 1st quarter valued at approximately $75,000. 99.72% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research firms have recently weighed in on RRX. KeyCorp cut their target price on Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Robert W. Baird upped their target price on Regal Rexnord from $208.00 to $213.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Raymond James started coverage on Regal Rexnord in a report on Friday, June 28th. They issued a “market perform” rating on the stock. StockNews.com raised Regal Rexnord from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Barclays raised their price target on Regal Rexnord from $180.00 to $190.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Regal Rexnord has an average rating of “Moderate Buy” and a consensus target price of $193.63.
Regal Rexnord Stock Up 2.2 %
RRX opened at $178.07 on Thursday. The firm has a 50-day simple moving average of $162.07 and a two-hundred day simple moving average of $156.00. Regal Rexnord Co. has a 52 week low of $97.18 and a 52 week high of $183.85. The company has a market capitalization of $11.84 billion, a PE ratio of -370.97, a price-to-earnings-growth ratio of 1.76 and a beta of 1.04. The company has a quick ratio of 1.38, a current ratio of 2.45 and a debt-to-equity ratio of 0.91.
Regal Rexnord (NYSE:RRX – Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.15. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.51 billion. Regal Rexnord had a negative net margin of 0.02% and a positive return on equity of 9.16%. The firm’s quarterly revenue was down 12.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.56 earnings per share. Analysts forecast that Regal Rexnord Co. will post 9.48 earnings per share for the current fiscal year.
Regal Rexnord Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date of this dividend was Friday, September 27th. Regal Rexnord’s dividend payout ratio (DPR) is -291.67%.
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.
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