Ballentine Partners LLC Invests $231,000 in Regal Rexnord Corporation $RRX

Ballentine Partners LLC acquired a new stake in Regal Rexnord Corporation (NYSE:RRX) in the second quarter, according to its most recent filing with the SEC. The fund acquired 1,594 shares of the company’s stock, valued at approximately $231,000.

A number of other hedge funds have also bought and sold shares of the business. Golden State Equity Partners purchased a new position in Regal Rexnord in the 2nd quarter valued at approximately $205,000. GAMMA Investing LLC boosted its holdings in Regal Rexnord by 65.3% in the 2nd quarter. GAMMA Investing LLC now owns 1,797 shares of the company’s stock valued at $260,000 after purchasing an additional 710 shares during the period. UMB Bank n.a. boosted its holdings in Regal Rexnord by 88.9% in the 2nd quarter. UMB Bank n.a. now owns 884 shares of the company’s stock valued at $128,000 after purchasing an additional 416 shares during the period. Moody National Bank Trust Division boosted its holdings in Regal Rexnord by 7.0% in the 2nd quarter. Moody National Bank Trust Division now owns 6,211 shares of the company’s stock valued at $900,000 after purchasing an additional 404 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in Regal Rexnord by 21.2% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 4,105 shares of the company’s stock valued at $623,000 after purchasing an additional 717 shares during the period. 99.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. The Goldman Sachs Group cut their price target on shares of Regal Rexnord from $192.00 to $170.00 and set a “buy” rating for the company in a report on Tuesday, September 16th. JPMorgan Chase & Co. assumed coverage on shares of Regal Rexnord in a report on Monday, September 15th. They issued an “overweight” rating and a $200.00 price target for the company. KeyCorp set a $180.00 price target on shares of Regal Rexnord and gave the company an “overweight” rating in a report on Thursday, June 26th. Citigroup reissued a “buy” rating and issued a $165.00 price target (up from $145.00) on shares of Regal Rexnord in a report on Tuesday, June 24th. Finally, Wall Street Zen downgraded shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a report on Sunday, September 21st. Eight equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $181.63.

Regal Rexnord Price Performance

Shares of NYSE:RRX opened at $144.32 on Tuesday. The stock has a market cap of $9.58 billion, a PE ratio of 38.38, a PEG ratio of 1.45 and a beta of 1.18. The company’s fifty day moving average is $146.91 and its 200 day moving average is $134.79. Regal Rexnord Corporation has a 52 week low of $90.56 and a 52 week high of $185.28. The company has a quick ratio of 0.93, a current ratio of 2.00 and a debt-to-equity ratio of 0.72.

Regal Rexnord (NYSE:RRX) last issued its earnings results on Tuesday, August 5th. The company reported $2.48 EPS for the quarter, topping analysts’ consensus estimates of $2.42 by $0.06. The company had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Regal Rexnord had a net margin of 4.28% and a return on equity of 9.73%. The firm’s revenue was down 3.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.29 EPS. Regal Rexnord has set its FY 2025 guidance at 9.700-10.300 EPS. Research analysts anticipate that Regal Rexnord Corporation will post 9.95 earnings per share for the current year.

Regal Rexnord Dividend Announcement

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 payout ratio is presently 37.23%.

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.