Regal Rexnord Corporation $RRX Shares Purchased by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lifted its stake in Regal Rexnord Corporation (NYSE:RRX) by 7.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,406 shares of the company’s stock after purchasing an additional 287 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Regal Rexnord were worth $639,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in RRX. Nuveen LLC acquired a new stake in shares of Regal Rexnord in the first quarter valued at approximately $117,996,000. Invesco Ltd. grew its position in Regal Rexnord by 76.3% in the first quarter. Invesco Ltd. now owns 932,829 shares of the company’s stock worth $106,203,000 after acquiring an additional 403,845 shares during the period. Dimensional Fund Advisors LP grew its position in Regal Rexnord by 30.2% in the first 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 during the period. Victory Capital Management Inc. grew its position in Regal Rexnord by 11.9% in the first 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 during the period. Finally, Brandywine Global Investment Management LLC purchased a new position in Regal Rexnord in the first quarter worth approximately $25,678,000. Institutional investors and hedge funds own 99.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on RRX shares. Wall Street Zen lowered Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research report on Sunday, September 21st. The Goldman Sachs Group lowered their price objective on Regal Rexnord from $192.00 to $170.00 and set a “buy” rating for the company in a research report on Tuesday, September 16th. Citigroup reiterated a “buy” rating and issued a $165.00 price objective (up from $145.00) on shares of Regal Rexnord in a research report on Tuesday, June 24th. KeyCorp lowered their price objective on Regal Rexnord from $180.00 to $170.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Regal Rexnord in a research report on Wednesday, October 8th. Eight equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $180.38.

Regal Rexnord Trading Down 1.1%

NYSE:RRX opened at $143.88 on Friday. The firm has a market cap of $9.55 billion, a PE ratio of 38.27, a price-to-earnings-growth ratio of 1.46 and a beta of 1.16. The stock has a fifty day moving average price of $145.02 and a 200 day moving average price of $136.67. Regal Rexnord Corporation has a 12-month low of $90.56 and a 12-month high of $185.28. The company has a current ratio of 2.00, a quick ratio of 0.93 and a debt-to-equity ratio of 0.72.

Regal Rexnord (NYSE:RRX) last released its earnings results on Friday, September 8th. The company reported $2.76 earnings per share (EPS) for the quarter. The firm 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%. Sell-side analysts anticipate that Regal Rexnord Corporation will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 14th. Investors of record on Tuesday, September 30th were issued a $0.35 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $1.40 dividend on an annualized basis and a yield of 1.0%. Regal Rexnord’s dividend payout ratio (DPR) is 37.23%.

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.