Spire Wealth Management Decreases Stock Position in Regal Rexnord Co. (NYSE:RRX)

Spire Wealth Management lowered its position in Regal Rexnord Co. (NYSE:RRXFree Report) by 31.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 279 shares of the company’s stock after selling 127 shares during the period. Spire Wealth Management’s holdings in Regal Rexnord were worth $40,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Financial Gravity Asset Management Inc. purchased a new stake in Regal Rexnord in the 2nd quarter worth $528,000. Belpointe Asset Management LLC lifted its stake in Regal Rexnord by 139.1% in the 1st quarter. Belpointe Asset Management LLC now owns 208 shares of the company’s stock worth $29,000 after purchasing an additional 121 shares in the last quarter. Janiczek Wealth Management LLC lifted its stake in Regal Rexnord by 45.4% in the 3rd quarter. Janiczek Wealth Management LLC now owns 282 shares of the company’s stock worth $40,000 after purchasing an additional 88 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in Regal Rexnord in the 1st quarter worth $42,000. Finally, CWM LLC lifted its stake in Regal Rexnord by 23.0% in the 2nd quarter. CWM LLC now owns 449 shares of the company’s stock worth $69,000 after purchasing an additional 84 shares in the last quarter. Institutional investors own 96.67% of the company’s stock.

Regal Rexnord Stock Up 1.5 %

Shares of NYSE:RRX opened at $154.32 on Tuesday. Regal Rexnord Co. has a 12 month low of $97.18 and a 12 month high of $166.00. The firm’s 50-day moving average is $139.69 and its 200 day moving average is $138.55. The company has a current ratio of 2.55, a quick ratio of 1.59 and a debt-to-equity ratio of 1.00.

Regal Rexnord (NYSE:RRXGet Free Report) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $2.28 EPS for the quarter, beating the consensus estimate of $2.26 by $0.02. The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.63 billion. Regal Rexnord had a negative net margin of 0.92% and a positive return on equity of 9.58%. The firm’s revenue was up 29.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.64 EPS. As a group, sell-side analysts expect that Regal Rexnord Co. will post 10.1 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, April 12th. Investors of record on Thursday, March 28th will be issued a dividend of $0.35 per share. The ex-dividend date is Wednesday, March 27th. This represents a $1.40 annualized dividend and a yield of 0.91%. Regal Rexnord’s payout ratio is -160.92%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on RRX shares. Wolfe Research upgraded shares of Regal Rexnord from a “peer perform” rating to an “outperform” rating and set a $151.00 target price on the stock in a research report on Monday, December 11th. KeyCorp decreased their target price on shares of Regal Rexnord from $184.00 to $148.00 and set an “overweight” rating on the stock in a research report on Thursday, November 2nd. Finally, TheStreet cut shares of Regal Rexnord from a “b-” rating to a “c” rating in a research report on Thursday, November 2nd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $177.50.

Check Out Our Latest Stock Analysis on Regal Rexnord

Regal Rexnord Profile

(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. It operates in four segments: Commercial Systems, Industrial Systems, Climate Solutions, and Motion Control Solutions.

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Institutional Ownership by Quarter for Regal Rexnord (NYSE:RRX)

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