1,749 Shares in Regal Rexnord Corporation $RRX Bought by Linden Thomas Advisory Services LLC

Linden Thomas Advisory Services LLC acquired a new position in shares of Regal Rexnord Corporation (NYSE:RRX) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,749 shares of the company’s stock, valued at approximately $254,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geneos Wealth Management Inc. raised its holdings 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 purchasing an additional 127 shares during the last quarter. Golden State Wealth Management LLC raised its holdings 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 purchasing an additional 138 shares during the last quarter. Jones Financial Companies Lllp raised its holdings 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 purchasing an additional 295 shares during the last quarter. Headlands Technologies LLC acquired a new position in Regal Rexnord during the first quarter worth $81,000. Finally, Signaturefd LLC raised its holdings 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 purchasing an additional 185 shares during the last quarter. 99.72% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on RRX. KeyCorp dropped their price target on Regal Rexnord from $180.00 to $170.00 and set an “overweight” rating for the company in a research report on Tuesday, October 14th. Barclays dropped their price target on Regal Rexnord from $163.00 to $161.00 and set an “overweight” rating for the company in a research report on Tuesday, September 16th. The Goldman Sachs Group dropped their price target on Regal Rexnord from $192.00 to $170.00 and set a “buy” rating for the company in a research report on Tuesday, September 16th. JPMorgan Chase & Co. began coverage on Regal Rexnord in a research report on Monday, September 15th. They set an “overweight” rating and a $200.00 price target for the company. Finally, Wall Street Zen downgraded Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research report on Sunday, September 21st. Eight equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $180.38.

Regal Rexnord Price Performance

Shares of NYSE:RRX opened at $146.36 on Tuesday. The company has a market cap of $9.71 billion, a P/E ratio of 38.93, a P/E/G ratio of 1.48 and a beta of 1.16. The company has a quick ratio of 0.93, a current ratio of 2.00 and a debt-to-equity ratio of 0.72. Regal Rexnord Corporation has a 52 week low of $90.56 and a 52 week high of $185.28. The business has a fifty day simple moving average of $145.01 and a 200-day simple moving average of $139.14.

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

Regal Rexnord Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 14th. Investors of record on Wednesday, December 31st will be issued a $0.35 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $1.40 dividend on an annualized basis and a yield of 1.0%. Regal Rexnord’s dividend payout ratio (DPR) is presently 37.23%.

About Regal Rexnord

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.