Regal Rexnord Co. (NYSE:RRX) Shares Sold by Xponance Inc.

Xponance Inc. reduced its holdings in Regal Rexnord Co. (NYSE:RRX) by 9.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,143 shares of the company’s stock after selling 748 shares during the quarter. Xponance Inc.’s holdings in Regal Rexnord were worth $966,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of RRX. Rise Advisors LLC acquired a new stake in Regal Rexnord in the first quarter valued at $33,000. Headlands Technologies LLC purchased a new position in shares of Regal Rexnord in the 2nd quarter valued at about $46,000. 1620 Investment Advisors Inc. acquired a new stake in shares of Regal Rexnord in the second quarter valued at about $52,000. EntryPoint Capital LLC purchased a new stake in Regal Rexnord during the first quarter worth about $68,000. Finally, Riverview Trust Co acquired a new position in Regal Rexnord during the first quarter worth about $75,000. 99.72% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. StockNews.com downgraded shares of Regal Rexnord from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Robert W. Baird boosted their target price on Regal Rexnord from $208.00 to $213.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. The Goldman Sachs Group raised their price target on Regal Rexnord from $176.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. KeyCorp decreased their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Finally, Raymond James began coverage on shares of Regal Rexnord in a report on Friday, June 28th. They set a “market perform” rating for the company. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $191.29.

Regal Rexnord Trading Down 0.9 %

Regal Rexnord stock opened at $167.18 on Friday. The stock has a 50-day moving average price of $158.04 and a 200 day moving average price of $156.91. Regal Rexnord Co. has a 52 week low of $97.18 and a 52 week high of $183.85. The stock has a market cap of $11.12 billion, a PE ratio of -348.29, a P/E/G ratio of 1.78 and a beta of 1.04. The company has a current ratio of 2.45, a quick ratio of 1.38 and a debt-to-equity ratio of 0.91.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $2.29 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.15. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.51 billion. Regal Rexnord had a negative net margin of 0.02% and a positive return on equity of 9.16%. The company’s quarterly revenue was down 12.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.56 earnings per share. Equities research analysts predict that Regal Rexnord Co. will post 9.48 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.84%. The ex-dividend date is Friday, September 27th. Regal Rexnord’s dividend payout ratio (DPR) is -291.67%.

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.