3,546 Shares in Regal Rexnord Co. (NYSE:RRX) Acquired by Occudo Quantitative Strategies LP

Occudo Quantitative Strategies LP bought a new position in shares of Regal Rexnord Co. (NYSE:RRX) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 3,546 shares of the company’s stock, valued at approximately $550,000.

Other institutional investors have also made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ increased its holdings in shares of Regal Rexnord by 472.4% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company’s stock worth $25,000 after acquiring an additional 137 shares during the last quarter. Bernard Wealth Management Corp. acquired a new position in shares of Regal Rexnord during the 4th quarter worth approximately $30,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Regal Rexnord during the 4th quarter worth approximately $33,000. Tobam acquired a new position in Regal Rexnord in the 4th quarter valued at $45,000. Finally, Jones Financial Companies Lllp grew its holdings in Regal Rexnord by 90.5% in the 4th quarter. Jones Financial Companies Lllp now owns 322 shares of the company’s stock valued at $50,000 after buying an additional 153 shares in the last quarter. 99.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on RRX shares. Robert W. Baird upped their price objective on Regal Rexnord from $167.00 to $172.00 and gave the company an “outperform” rating in a report on Wednesday, May 7th. Oppenheimer decreased their price objective on Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. StockNews.com lowered Regal Rexnord from a “buy” rating to a “hold” rating in a report on Wednesday, April 16th. Barclays upped their price objective on Regal Rexnord from $155.00 to $160.00 and gave the company an “overweight” rating in a report on Monday. Finally, The Goldman Sachs Group decreased their price objective on Regal Rexnord from $183.00 to $163.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $171.25.

Regal Rexnord Stock Performance

RRX opened at $141.53 on Thursday. The firm has a market cap of $9.39 billion, a P/E ratio of 47.98, a price-to-earnings-growth ratio of 1.37 and a beta of 1.11. Regal Rexnord Co. has a 52-week low of $90.56 and a 52-week high of $185.28. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.25 and a current ratio of 2.26. The business’s fifty day moving average is $113.12 and its 200-day moving average is $142.05.

Regal Rexnord (NYSE:RRX) last released its earnings results on Monday, May 5th. The company reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.33. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.38 billion. Regal Rexnord had a return on equity of 9.57% and a net margin of 3.25%. Regal Rexnord’s quarterly revenue was down 8.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.00 EPS. Sell-side analysts expect that Regal Rexnord Co. will post 9.95 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 14th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend is Monday, June 30th. Regal Rexnord’s dividend payout ratio (DPR) is currently 39.89%.

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.