Ritholtz Wealth Management Cuts Holdings in Regal Rexnord Corporation $RRX

Ritholtz Wealth Management trimmed its holdings in shares of Regal Rexnord Corporation (NYSE:RRX) by 22.5% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,534 shares of the company’s stock after selling 445 shares during the quarter. Ritholtz Wealth Management’s holdings in Regal Rexnord were worth $222,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Avantax Advisory Services Inc. boosted its stake in Regal Rexnord by 19.7% during the 1st quarter. Avantax Advisory Services Inc. now owns 3,152 shares of the company’s stock valued at $359,000 after purchasing an additional 519 shares during the last quarter. Intech Investment Management LLC boosted its stake in Regal Rexnord by 0.5% during the 1st quarter. Intech Investment Management LLC now owns 25,490 shares of the company’s stock valued at $2,902,000 after purchasing an additional 120 shares during the last quarter. Signaturefd LLC boosted its stake in Regal Rexnord by 14.2% during the 2nd quarter. Signaturefd LLC now owns 1,040 shares of the company’s stock valued at $151,000 after purchasing an additional 129 shares during the last quarter. United Services Automobile Association purchased a new position in shares of Regal Rexnord during the first quarter valued at approximately $507,000. Finally, SCS Capital Management LLC purchased a new position in shares of Regal Rexnord during the first quarter valued at approximately $362,000. 99.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. KeyCorp decreased their price objective on shares of Regal Rexnord from $180.00 to $170.00 and set an “overweight” rating for the company in a report on Tuesday, October 14th. Wall Street Zen cut shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a report on Sunday, September 21st. Citigroup reissued a “buy” rating and set a $165.00 price objective (up from $145.00) on shares of Regal Rexnord in a report on Tuesday, June 24th. The Goldman Sachs Group decreased their price objective on shares of Regal Rexnord from $192.00 to $170.00 and set a “buy” rating for the company in a report on Tuesday, September 16th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Regal Rexnord in a report on Monday, September 15th. They set an “overweight” rating and a $200.00 price objective for the company. Eight research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Regal Rexnord currently has an average rating of “Moderate Buy” and an average price target of $180.38.

Regal Rexnord Stock Up 1.5%

Shares of RRX stock opened at $147.20 on Wednesday. Regal Rexnord Corporation has a 12 month low of $90.56 and a 12 month high of $185.28. The stock has a market cap of $9.77 billion, a P/E ratio of 39.15, a P/E/G ratio of 1.46 and a beta of 1.16. The company has a current ratio of 2.00, a quick ratio of 0.93 and a debt-to-equity ratio of 0.72. The company has a 50 day simple moving average of $145.27 and a two-hundred day simple moving average of $137.58.

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

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.