Arrowpoint Investment Partners Singapore Pte. Ltd. acquired a new position in Regal Rexnord Corporation (NYSE:RRX - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,400 shares of the company's stock, valued at approximately $273,000.
A number of other large investors have also added to or reduced their stakes in RRX. Bernard Wealth Management Corp. bought a new stake in shares of Regal Rexnord in the 4th quarter worth about $31,000. Golden State Wealth Management LLC increased its holdings in shares of Regal Rexnord by 106.2% in the 1st quarter. Golden State Wealth Management LLC now owns 268 shares of the company's stock worth $31,000 after buying an additional 138 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Regal Rexnord in the 1st quarter worth about $81,000. Signaturefd LLC grew its holdings in Regal Rexnord by 25.5% during the 1st quarter. Signaturefd LLC now owns 911 shares of the company's stock valued at $104,000 after purchasing an additional 185 shares during the last quarter. Finally, CWM LLC grew its holdings in Regal Rexnord by 18.1% during the 1st quarter. CWM LLC now owns 1,011 shares of the company's stock valued at $115,000 after purchasing an additional 155 shares during the last quarter. Institutional investors own 99.72% of the company's stock.
Regal Rexnord Stock Performance
Shares of NYSE RRX traded down $6.05 during midday trading on Thursday, reaching $148.52. The company had a trading volume of 1,054,587 shares, compared to its average volume of 1,014,497. The business's 50-day simple moving average is $147.14 and its 200 day simple moving average is $132.62. The stock has a market cap of $9.86 billion, a P/E ratio of 39.50, a P/E/G ratio of 1.56 and a beta of 1.18. Regal Rexnord Corporation has a 1 year low of $90.56 and a 1 year 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 - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $2.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.42 by $0.06. The business had revenue of $1.50 billion during the quarter, compared to analysts' expectations of $1.50 billion. Regal Rexnord had a net margin of 4.28% and a return on equity of 9.73%. The business's quarterly revenue was down 3.3% on a year-over-year basis. During the same quarter last year, the company posted $2.29 earnings per share. On average, analysts forecast that Regal Rexnord Corporation will post 9.95 earnings per share for the current fiscal year.
Regal Rexnord Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 14th. Investors of record on Tuesday, September 30th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 30th. Regal Rexnord's dividend payout ratio (DPR) is 37.23%.
Wall Street Analysts Forecast Growth
Several brokerages recently commented on RRX. Barclays upped their price target on shares of Regal Rexnord from $160.00 to $165.00 and gave the company an "overweight" rating in a report on Wednesday, July 9th. Wall Street Zen raised shares of Regal Rexnord from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. Citigroup reissued 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. The Goldman Sachs Group boosted their price objective on shares of Regal Rexnord from $173.00 to $195.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Finally, Robert W. Baird upped their price target on shares of Regal Rexnord from $167.00 to $172.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $185.25.
Get Our Latest Research Report on RRX
About Regal Rexnord
(
Free Report)
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.
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