National Bank of Canada FI Has $1.48 Million Stock Holdings in Regal Rexnord Co. (NYSE:RRX)

National Bank of Canada FI boosted its holdings in shares of Regal Rexnord Co. (NYSE:RRX) by 4.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,206 shares of the company’s stock after buying an additional 431 shares during the period. National Bank of Canada FI’s holdings in Regal Rexnord were worth $1,476,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in RRX. Rise Advisors LLC bought a new position in shares of Regal Rexnord during the 1st quarter valued at $33,000. 1620 Investment Advisors Inc. bought a new stake in Regal Rexnord in the 2nd quarter valued at $52,000. EntryPoint Capital LLC bought a new stake in shares of Regal Rexnord in the first quarter valued at about $68,000. Riverview Trust Co acquired a new stake in shares of Regal Rexnord during the 1st quarter worth approximately $75,000. Finally, GAMMA Investing LLC boosted its stake 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 owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on RRX. KeyCorp lowered 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. The Goldman Sachs Group upped their price objective on Regal Rexnord from $176.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. StockNews.com upgraded shares of Regal Rexnord from a “hold” rating to a “buy” rating in a research report on Monday, August 5th. Robert W. Baird lifted their price objective on Regal Rexnord from $208.00 to $213.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Finally, Barclays decreased their price objective on shares of Regal Rexnord from $181.00 to $180.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Regal Rexnord presently has an average rating of “Moderate Buy” and a consensus price target of $189.83.

Regal Rexnord Price Performance

RRX stock opened at $148.85 on Friday. The stock has a 50-day moving average price of $153.03 and a two-hundred day moving average price of $157.30. Regal Rexnord Co. has a 1 year low of $97.18 and a 1 year high of $183.85. The stock has a market cap of $9.90 billion, a PE ratio of -310.10, a price-to-earnings-growth ratio of 1.56 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 posted its quarterly earnings data on Wednesday, July 31st. The company reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.15. Regal Rexnord had a negative net margin of 0.02% and a positive return on equity of 9.16%. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same period last year, the company earned $2.56 earnings per share. The firm’s revenue was down 12.5% compared to the same quarter last year. Equities analysts forecast that Regal Rexnord Co. will post 9.53 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.94%. 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.