Uncommon Cents Investing LLC grew its position in Regal Rexnord Co. (NYSE:RRX – Get Rating) by 6.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,880 shares of the company’s stock after purchasing an additional 305 shares during the quarter. Uncommon Cents Investing LLC’s holdings in Regal Rexnord were worth $554,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also modified their holdings of the company. Cullen Frost Bankers Inc. purchased a new position in shares of Regal Rexnord in the first quarter worth $25,000. Bank of New Hampshire bought a new position in shares of Regal Rexnord in the first quarter worth about $30,000. Harvest Fund Management Co. Ltd bought a new position in Regal Rexnord during the 1st quarter worth about $30,000. Huntington National Bank purchased a new stake in shares of Regal Rexnord during the first quarter valued at about $32,000. Finally, Tobam purchased a new stake in shares of Regal Rexnord during the first quarter valued at about $35,000. 97.00% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
RRX has been the subject of a number of recent research reports. KeyCorp raised their price target on shares of Regal Rexnord from $155.00 to $172.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 23rd. The Goldman Sachs Group boosted their price objective on shares of Regal Rexnord from $165.00 to $187.00 and gave the company a “buy” rating in a report on Wednesday, September 14th. Barclays boosted their price objective on Regal Rexnord from $140.00 to $157.00 in a research report on Wednesday, August 3rd. Robert W. Baird upped their price target on Regal Rexnord from $146.00 to $158.00 in a report on Wednesday, August 3rd. Finally, StockNews.com upgraded Regal Rexnord from a “hold” rating to a “buy” rating in a research note on Friday, July 8th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $173.40.
Insider Transactions at Regal Rexnord
Regal Rexnord Stock Performance
NYSE:RRX traded down $5.37 during mid-day trading on Friday, hitting $136.38. 15,269 shares of the company’s stock traded hands, compared to its average volume of 416,651. The firm has a 50 day moving average of $137.74 and a two-hundred day moving average of $133.68. The company has a current ratio of 2.76, a quick ratio of 1.52 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $9.07 billion, a price-to-earnings ratio of 24.25, a price-to-earnings-growth ratio of 1.33 and a beta of 1.23. Regal Rexnord Co. has a 12 month low of $108.28 and a 12 month high of $176.91.
Regal Rexnord (NYSE:RRX – Get Rating) last posted its quarterly earnings results on Monday, August 1st. The company reported $2.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.14. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.32 billion. Regal Rexnord had a return on equity of 11.15% and a net margin of 6.99%. The firm’s revenue was up 52.1% on a year-over-year basis. During the same period last year, the company earned $2.28 EPS. On average, equities analysts forecast that Regal Rexnord Co. will post 10.7 earnings per share for the current fiscal year.
Regal Rexnord Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, September 29th. This represents a $1.40 dividend on an annualized basis and a yield of 1.03%. Regal Rexnord’s dividend payout ratio (DPR) is currently 25.00%.
Regal Rexnord Profile
Regal Rexnord Corporation, together with its subsidiaries, designs, manufactures, and sells industrial powertrain solutions, power transmission components, electric motors and electronic controls, air moving products, and specialty electrical components and systems worldwide. It operates through four segments: Commercial Systems, Industrial Systems, Climate Solutions, and Motion Control Solutions.
- Get a free copy of the StockNews.com research report on Regal Rexnord (RRX)
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