Rehmann Capital Advisory Group Invests $250,000 in Regal Rexnord Corporation $RRX

Key Points

• Rehmann Capital Advisory Group has invested $250,000 in Regal Rexnord Corporation, purchasing 1,727 shares during the second quarter.
• Regal Rexnord plans to pay a quarterly dividend of $0.35 per share, with an annualized dividend yield of 0.9%, to be paid on January 14th.
• Wall Street analysts have a mixed outlook on Regal Rexnord, with a consensus rating of "Moderate Buy" and an average price target of $180.38.

Rehmann Capital Advisory Group purchased a new position in shares of Regal Rexnord Corporation (NYSE:RRX - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,727 shares of the company's stock, valued at approximately $250,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RRX. Geneos Wealth Management Inc. grew 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 worth $25,000 after buying an additional 127 shares during the period. Golden State Wealth Management LLC grew its position in Regal Rexnord by 106.2% during the first 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 period. Jones Financial Companies Lllp grew its position in Regal Rexnord by 91.6% during the first quarter. Jones Financial Companies Lllp now owns 617 shares of the company's stock worth $70,000 after buying an additional 295 shares during the period. Headlands Technologies LLC acquired a new position in Regal Rexnord during the first quarter worth about $81,000. Finally, Signaturefd LLC grew its position in Regal Rexnord by 25.5% during the first quarter. Signaturefd LLC now owns 911 shares of the company's stock worth $104,000 after buying an additional 185 shares during the period. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Regal Rexnord Stock Up 0.1%

Shares of NYSE RRX opened at $147.53 on Friday. Regal Rexnord Corporation has a 12-month low of $90.56 and a 12-month high of $185.28. The company has a market capitalization of $9.79 billion, a PE ratio of 39.24, a price-to-earnings-growth ratio of 1.48 and a beta of 1.16. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.00 and a quick ratio of 0.93. The firm's 50-day moving average is $145.02 and its two-hundred day moving average is $138.34.

Regal Rexnord (NYSE:RRX - Get Free Report) last announced its quarterly earnings data on Friday, September 8th. The company reported $2.76 earnings per share (EPS) for the quarter. The business had revenue of $1.85 billion for the quarter. Regal Rexnord had a net margin of 4.28% and a return on equity of 9.73%. Equities analysts anticipate that Regal Rexnord Corporation will post 9.95 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 14th. Investors of record on Wednesday, December 31st will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $1.40 annualized dividend and a dividend yield of 0.9%. Regal Rexnord's dividend payout ratio is presently 37.23%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Wall Street Zen lowered shares of Regal Rexnord from a "strong-buy" rating to a "buy" rating in a research report on Sunday, September 21st. Weiss Ratings restated a "hold (c)" rating on shares of Regal Rexnord in a research report on Wednesday, October 8th. JPMorgan Chase & Co. initiated coverage on shares of Regal Rexnord in a research report on Monday, September 15th. They set an "overweight" rating and a $200.00 target price on the stock. KeyCorp reduced their price target on shares of Regal Rexnord from $180.00 to $170.00 and set an "overweight" rating on the stock in a report on Tuesday, October 14th. Finally, The Goldman Sachs Group reduced their price target on shares of Regal Rexnord from $192.00 to $170.00 and set a "buy" rating on the stock in a report on Tuesday, September 16th. Eight analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $180.38.

Regal Rexnord 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.

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