Tectonic Advisors LLC Buys 517 Shares of Regal Rexnord Co. (NYSE:RRX)

Tectonic Advisors LLC lifted its position in Regal Rexnord Co. (NYSE:RRX) by 26.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,504 shares of the company’s stock after purchasing an additional 517 shares during the period. Tectonic Advisors LLC’s holdings in Regal Rexnord were worth $388,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Marshall Wace LLP bought a new position in Regal Rexnord during the 2nd quarter valued at approximately $622,000. Creative Planning increased its stake in shares of Regal Rexnord by 28.5% during the second quarter. Creative Planning now owns 2,805 shares of the company’s stock valued at $379,000 after buying an additional 622 shares during the period. Sanctuary Advisors LLC bought a new position in shares of Regal Rexnord during the second quarter valued at approximately $263,000. Handelsbanken Fonder AB lifted its stake in Regal Rexnord by 21.9% in the third quarter. Handelsbanken Fonder AB now owns 15,614 shares of the company’s stock worth $2,590,000 after acquiring an additional 2,800 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in Regal Rexnord by 30.0% in the third quarter. GAMMA Investing LLC now owns 841 shares of the company’s stock valued at $140,000 after acquiring an additional 194 shares in the last quarter. 99.72% of the stock is owned by hedge funds and other institutional investors.

Regal Rexnord Stock Down 8.1 %

RRX stock opened at $142.48 on Friday. The business has a 50 day moving average of $161.01 and a 200 day moving average of $163.04. The firm has a market cap of $9.44 billion, a PE ratio of 44.95, a price-to-earnings-growth ratio of 1.53 and a beta of 1.03. Regal Rexnord Co. has a twelve month low of $130.94 and a twelve month high of $185.28. The company has a quick ratio of 1.35, a current ratio of 2.45 and a debt-to-equity ratio of 0.87.

Regal Rexnord (NYSE:RRX) last released its earnings results on Wednesday, February 5th. The company reported $2.34 EPS for the quarter, missing analysts’ consensus estimates of $2.56 by ($0.22). Regal Rexnord had a return on equity of 9.48% and a net margin of 3.41%. On average, research analysts forecast that Regal Rexnord Co. will post 9.24 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be issued a $0.35 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.40 annualized dividend and a yield of 0.98%. Regal Rexnord’s dividend payout ratio (DPR) is presently 44.16%.

Wall Street Analyst Weigh In

Several research analysts have commented on RRX shares. Jefferies Financial Group began coverage on shares of Regal Rexnord in a report on Thursday, December 12th. They issued a “buy” rating and a $215.00 price objective for the company. The Goldman Sachs Group increased their price target on shares of Regal Rexnord from $191.00 to $213.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Citigroup cut their price objective on Regal Rexnord from $210.00 to $190.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Barclays decreased their target price on Regal Rexnord from $205.00 to $190.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Finally, StockNews.com lowered Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 16th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Regal Rexnord presently has an average rating of “Moderate Buy” and a consensus price target of $202.00.

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.