Ethic Inc. Decreases Holdings in Regal Rexnord Corporation $RRX

Ethic Inc. decreased its holdings in Regal Rexnord Corporation (NYSE:RRX) by 63.7% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,448 shares of the company’s stock after selling 2,538 shares during the period. Ethic Inc.’s holdings in Regal Rexnord were worth $212,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Geneos Wealth Management Inc. boosted its position in Regal Rexnord by 135.1% during the first quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock valued at $25,000 after buying an additional 127 shares during the period. Jones Financial Companies Lllp lifted its stake in shares of Regal Rexnord by 91.6% in the 1st quarter. Jones Financial Companies Lllp now owns 617 shares of the company’s stock valued at $70,000 after acquiring an additional 295 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Regal Rexnord during the 1st quarter valued at about $81,000. Parallel Advisors LLC grew its position in Regal Rexnord by 69.0% during the 2nd quarter. Parallel Advisors LLC now owns 818 shares of the company’s stock worth $119,000 after acquiring an additional 334 shares during the last quarter. Finally, UMB Bank n.a. increased its stake in Regal Rexnord by 88.9% in the 2nd quarter. UMB Bank n.a. now owns 884 shares of the company’s stock worth $128,000 after purchasing an additional 416 shares during the period. Institutional investors own 99.72% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. The Goldman Sachs Group dropped their price objective on Regal Rexnord from $192.00 to $170.00 and set a “buy” rating for the company in a research note on Tuesday, September 16th. JPMorgan Chase & Co. lowered their price target on shares of Regal Rexnord from $200.00 to $190.00 and set an “overweight” rating for the company in a report on Friday. KeyCorp dropped their price target on shares of Regal Rexnord from $180.00 to $170.00 and set an “overweight” rating for the company in a research report on Tuesday, October 14th. Robert W. Baird set a $212.00 price target on shares of Regal Rexnord in a report on Friday. Finally, Wall Street Zen cut shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research report on Sunday, September 21st. Eight research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $184.13.

Regal Rexnord Trading Down 2.9%

NYSE RRX opened at $140.81 on Friday. The firm has a market capitalization of $9.35 billion, a PE ratio of 36.38, a P/E/G ratio of 1.52 and a beta of 1.16. The stock’s 50 day moving average is $144.82 and its 200 day moving average is $140.16. Regal Rexnord Corporation has a twelve month low of $90.56 and a twelve month 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 quarterly earnings results on Friday, September 8th. The company reported $2.76 earnings per share (EPS) for the quarter. Regal Rexnord had a net margin of 4.38% and a return on equity of 9.75%. The company had revenue of $1.85 billion during the quarter. Research analysts forecast that Regal Rexnord Corporation will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 14th. Stockholders of record on Wednesday, December 31st will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, December 31st. Regal Rexnord’s payout ratio is currently 36.18%.

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.