Regal Rexnord Co. (NYSE:RRX) Stock Position Increased by Leeward Investments LLC MA

Leeward Investments LLC MA raised its position in Regal Rexnord Co. (NYSE:RRX) by 0.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 241,840 shares of the company’s stock after buying an additional 2,222 shares during the period. Regal Rexnord comprises 1.9% of Leeward Investments LLC MA’s investment portfolio, making the stock its 3rd biggest position. Leeward Investments LLC MA’s holdings in Regal Rexnord were worth $43,555,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Rise Advisors LLC acquired a new stake in shares of Regal Rexnord in the first quarter worth approximately $33,000. GAMMA Investing LLC purchased a new position in shares of Regal Rexnord during the 4th quarter worth $58,000. ICA Group Wealth Management LLC acquired a new position in shares of Regal Rexnord during the 4th quarter valued at about $70,000. Riverview Trust Co purchased a new stake in shares of Regal Rexnord in the first quarter valued at about $75,000. Finally, Benjamin F. Edwards & Company Inc. acquired a new stake in Regal Rexnord during the fourth quarter worth about $100,000. Institutional investors and hedge funds own 99.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on RRX shares. KeyCorp boosted their target price on shares of Regal Rexnord from $180.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, March 25th. Barclays decreased their price objective on Regal Rexnord from $199.00 to $181.00 and set an “overweight” rating on the stock in a report on Tuesday, June 4th. StockNews.com cut Regal Rexnord from a “buy” rating to a “hold” rating in a research note on Thursday. Oppenheimer upped their price target on Regal Rexnord from $185.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, March 13th. Finally, Robert W. Baird increased their target price on shares of Regal Rexnord from $205.00 to $208.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 8th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $192.00.

Regal Rexnord Trading Up 1.3 %

RRX traded up $1.79 during mid-day trading on Thursday, hitting $135.65. 212,571 shares of the stock were exchanged, compared to its average volume of 444,051. The firm’s fifty day moving average is $149.24 and its two-hundred day moving average is $154.46. Regal Rexnord Co. has a 1-year low of $97.18 and a 1-year high of $183.85. The company has a market cap of $9.02 billion, a PE ratio of -282.60, a PEG ratio of 1.38 and a beta of 1.06. The company has a current ratio of 2.62, a quick ratio of 1.56 and a debt-to-equity ratio of 0.99.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings results on Monday, May 6th. The company reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.02. The business had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.56 billion. Regal Rexnord had a negative net margin of 0.48% and a positive return on equity of 9.42%. The business’s quarterly revenue was up 26.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.22 earnings per share. Equities analysts forecast that Regal Rexnord Co. will post 9.73 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.40 annualized dividend and a dividend yield of 1.03%. Regal Rexnord’s dividend payout ratio (DPR) is -291.67%.

Regal Rexnord 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.