Rise Advisors LLC Takes $33,000 Position in Regal Rexnord Co. (NYSE:RRX)

Rise Advisors LLC acquired a new stake in shares of Regal Rexnord Co. (NYSE:RRX) during the 1st quarter, Holdings Channel.com reports. The firm acquired 184 shares of the company’s stock, valued at approximately $33,000.

Several other institutional investors have also modified their holdings of RRX. Janney Montgomery Scott LLC lifted its holdings in shares of Regal Rexnord by 4.4% during the 3rd quarter. Janney Montgomery Scott LLC now owns 4,333 shares of the company’s stock valued at $619,000 after purchasing an additional 184 shares in the last quarter. Pathstone Family Office LLC bought a new stake in Regal Rexnord in the 3rd quarter valued at approximately $314,000. HighTower Advisors LLC lifted its stake in Regal Rexnord by 61.9% in the 3rd quarter. HighTower Advisors LLC now owns 3,543 shares of the company’s stock valued at $503,000 after acquiring an additional 1,355 shares in the last quarter. UBS Group AG lifted its stake in Regal Rexnord by 58.8% in the 3rd quarter. UBS Group AG now owns 90,990 shares of the company’s stock valued at $13,001,000 after acquiring an additional 33,689 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in Regal Rexnord by 12.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 10,690 shares of the company’s stock valued at $1,527,000 after acquiring an additional 1,225 shares in the last quarter. Institutional investors own 99.72% of the company’s stock.

Regal Rexnord Price Performance

NYSE:RRX traded up $0.10 during trading hours on Thursday, hitting $142.63. The company’s stock had a trading volume of 8,693 shares, compared to its average volume of 447,675. The stock has a fifty day simple moving average of $154.82 and a 200-day simple moving average of $154.18. The company has a market capitalization of $9.49 billion, a P/E ratio of -296.94, a PEG ratio of 1.45 and a beta of 1.10. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.62 and a quick ratio of 1.56. Regal Rexnord Co. has a twelve month low of $97.18 and a twelve month high of $183.85.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings data on Monday, May 6th. The company reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.02. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.56 billion. Regal Rexnord had a positive return on equity of 9.42% and a negative net margin of 0.48%. Regal Rexnord’s revenue was up 26.4% compared to the same quarter last year. During the same period last year, the firm posted $2.22 earnings per share. On average, analysts anticipate that Regal Rexnord Co. will post 9.82 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be given a $0.35 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.40 annualized dividend and a yield of 0.98%. Regal Rexnord’s dividend payout ratio is presently -291.67%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on RRX shares. StockNews.com upgraded Regal Rexnord from a “hold” rating to a “buy” rating in a research report on Tuesday. Robert W. Baird increased their target price on Regal Rexnord from $205.00 to $208.00 and gave the stock an “outperform” rating in a report on Wednesday, May 8th. Barclays reduced their target price on Regal Rexnord from $199.00 to $181.00 and set an “overweight” rating on the stock in a report on Tuesday, June 4th. Oppenheimer increased their target price on Regal Rexnord from $185.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, March 13th. Finally, KeyCorp increased their target price on Regal Rexnord from $180.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, March 25th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $192.00.

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.