Westhampton Capital LLC Has $2.52 Million Stock Holdings in Regal Rexnord Corporation $RRX

Westhampton Capital LLC boosted its stake in shares of Regal Rexnord Corporation (NYSE:RRX) by 3.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 17,395 shares of the company’s stock after buying an additional 500 shares during the period. Regal Rexnord makes up approximately 1.3% of Westhampton Capital LLC’s holdings, making the stock its 22nd biggest holding. Westhampton Capital LLC’s holdings in Regal Rexnord were worth $2,522,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Janney Montgomery Scott LLC raised its holdings in shares of Regal Rexnord by 7.0% in the second quarter. Janney Montgomery Scott LLC now owns 4,406 shares of the company’s stock valued at $639,000 after purchasing an additional 287 shares during the last quarter. Signaturefd LLC boosted its position in shares of Regal Rexnord by 14.2% in the second quarter. Signaturefd LLC now owns 1,040 shares of the company’s stock valued at $151,000 after acquiring an additional 129 shares during the period. Steph & Co. boosted its position in shares of Regal Rexnord by 5.2% in the second quarter. Steph & Co. now owns 5,181 shares of the company’s stock valued at $751,000 after acquiring an additional 258 shares during the period. Ballentine Partners LLC bought a new stake in shares of Regal Rexnord in the second quarter valued at about $231,000. Finally, Golden State Equity Partners bought a new stake in shares of Regal Rexnord in the second quarter valued at about $205,000. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RRX has been the subject of a number of recent research reports. KeyCorp set a $180.00 target price on shares of Regal Rexnord and gave the company an “overweight” rating in a research report on Thursday, June 26th. Citigroup reissued a “buy” rating and set a $165.00 target price (up previously from $145.00) on shares of Regal Rexnord in a research note on Tuesday, June 24th. JPMorgan Chase & Co. began coverage on Regal Rexnord in a research note on Monday, September 15th. They set an “overweight” rating and a $200.00 target price for the company. Barclays lowered their target price on Regal Rexnord from $163.00 to $161.00 and set an “overweight” rating for the company in a research note on Tuesday, September 16th. Finally, The Goldman Sachs Group lowered their target price on Regal Rexnord from $192.00 to $170.00 and set a “buy” rating for the company in a research note on Tuesday, September 16th. Eight research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $181.63.

Regal Rexnord Stock Performance

NYSE:RRX opened at $144.32 on Tuesday. The company has a market capitalization of $9.58 billion, a PE ratio of 38.38, a P/E/G ratio of 1.45 and a beta of 1.18. The company has a 50 day simple moving average of $146.91 and a two-hundred day simple moving average of $134.79. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 2.00. Regal Rexnord Corporation has a fifty-two week low of $90.56 and a fifty-two week high of $185.28.

Regal Rexnord (NYSE:RRX) last released its earnings results on Tuesday, August 5th. The company reported $2.48 earnings per share for the quarter, beating analysts’ consensus estimates of $2.42 by $0.06. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.50 billion. Regal Rexnord had a net margin of 4.28% and a return on equity of 9.73%. The company’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.29 EPS. Regal Rexnord has set its FY 2025 guidance at 9.700-10.300 EPS. Research analysts anticipate that Regal Rexnord Corporation will post 9.95 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 14th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Tuesday, September 30th. Regal Rexnord’s dividend payout ratio is presently 37.23%.

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.