US Bancorp DE Acquires 203 Shares of Regal Rexnord Corporation (NYSE:RRX)

US Bancorp DE raised its holdings in shares of Regal Rexnord Corporation (NYSE:RRX) by 12.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,828 shares of the company’s stock after purchasing an additional 203 shares during the quarter. US Bancorp DE’s holdings in Regal Rexnord were worth $208,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in RRX. Bernard Wealth Management Corp. bought a new stake in shares of Regal Rexnord during the fourth quarter worth $31,000. Golden State Wealth Management LLC lifted its position in shares of Regal Rexnord by 106.2% during the first quarter. Golden State Wealth Management LLC now owns 268 shares of the company’s stock worth $31,000 after purchasing an additional 138 shares during the last quarter. Signaturefd LLC lifted its position in shares of Regal Rexnord by 25.5% during the first quarter. Signaturefd LLC now owns 911 shares of the company’s stock worth $104,000 after purchasing an additional 185 shares during the last quarter. CWM LLC lifted its position in shares of Regal Rexnord by 18.1% during the first quarter. CWM LLC now owns 1,011 shares of the company’s stock worth $115,000 after purchasing an additional 155 shares during the last quarter. Finally, Two Sigma Securities LLC bought a new stake in shares of Regal Rexnord in the fourth quarter valued at about $211,000. 99.72% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on RRX. KeyCorp set a $180.00 price objective on Regal Rexnord and gave the company an “overweight” rating in a report on Thursday, June 26th. The Goldman Sachs Group lifted their target price on Regal Rexnord from $173.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. Citigroup reiterated a “buy” rating and issued a $165.00 target price (up previously from $145.00) on shares of Regal Rexnord in a research note on Tuesday, June 24th. Robert W. Baird boosted their price target on Regal Rexnord from $167.00 to $172.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 7th. Finally, Barclays boosted their price target on Regal Rexnord from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 9th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Regal Rexnord has a consensus rating of “Buy” and a consensus price target of $185.25.

Regal Rexnord Stock Down 1.7%

Regal Rexnord stock opened at $145.74 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.00 and a quick ratio of 0.93. Regal Rexnord Corporation has a 1-year low of $90.56 and a 1-year high of $185.28. The company has a market cap of $9.67 billion, a PE ratio of 38.76, a price-to-earnings-growth ratio of 1.49 and a beta of 1.18. The stock’s 50 day moving average price is $147.25 and its 200 day moving average price is $132.52.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $2.48 earnings per share for the quarter, beating analysts’ consensus estimates of $2.42 by $0.06. Regal Rexnord had a return on equity of 9.73% and a net margin of 4.28%. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the previous year, the business earned $2.29 earnings per share. The company’s revenue for the quarter was down 3.3% compared to the same quarter last year. On average, sell-side analysts predict that Regal Rexnord Corporation will post 9.95 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 14th. Investors of record on Tuesday, September 30th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.40 annualized dividend and a yield of 1.0%. Regal Rexnord’s payout ratio is currently 37.23%.

About Regal Rexnord

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.