Regal Rexnord Co. (NYSE:RRX) Shares Bought by International Assets Investment Management LLC

International Assets Investment Management LLC raised its stake in shares of Regal Rexnord Co. (NYSE:RRX) by 87,585.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 6,138 shares of the company’s stock after acquiring an additional 6,131 shares during the quarter. International Assets Investment Management LLC’s holdings in Regal Rexnord were worth $1,018,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Headlands Technologies LLC purchased a new stake in Regal Rexnord during the 2nd quarter worth about $46,000. 1620 Investment Advisors Inc. purchased a new position in Regal Rexnord during the second quarter worth about $52,000. UMB Bank n.a. lifted its holdings in shares of Regal Rexnord by 72.5% in the 3rd quarter. UMB Bank n.a. now owns 345 shares of the company’s stock valued at $57,000 after buying an additional 145 shares during the period. EntryPoint Capital LLC acquired a new stake in Regal Rexnord in the first quarter valued at $68,000. Finally, GAMMA Investing LLC boosted its holdings in Regal Rexnord by 13.9% during the second quarter. GAMMA Investing LLC now owns 647 shares of the company’s stock worth $87,000 after buying an additional 79 shares in the last quarter. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RRX has been the subject of several recent research reports. Citigroup assumed coverage on Regal Rexnord in a research report on Monday, October 14th. They set a “buy” rating and a $200.00 price target for the company. KeyCorp reduced their price target on Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Barclays upped their target price on shares of Regal Rexnord from $180.00 to $190.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Robert W. Baird boosted their price objective on Regal Rexnord from $208.00 to $213.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Finally, StockNews.com raised Regal Rexnord from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $193.63.

Regal Rexnord Stock Performance

RRX opened at $170.22 on Tuesday. Regal Rexnord Co. has a 12-month low of $100.00 and a 12-month high of $183.85. The company has a quick ratio of 1.38, a current ratio of 2.45 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $11.33 billion, a P/E ratio of -8,511.00, a price-to-earnings-growth ratio of 1.76 and a beta of 1.04. The stock’s 50 day moving average price is $165.20 and its two-hundred day moving average price is $156.13.

Regal Rexnord Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.35 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.40 annualized dividend and a dividend yield of 0.82%. Regal Rexnord’s dividend payout ratio (DPR) is currently -7,000.00%.

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.