Steph & Co. Increases Position in Regal Rexnord Co. (NYSE:RRX)

Steph & Co. lifted its holdings in Regal Rexnord Co. (NYSE:RRX) by 19.5% during the first quarter, Holdings Channel.com reports. The institutional investor owned 5,096 shares of the company’s stock after acquiring an additional 830 shares during the quarter. Steph & Co.’s holdings in Regal Rexnord were worth $918,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RRX. Cary Street Partners Investment Advisory LLC boosted its stake in shares of Regal Rexnord by 652.2% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 173 shares of the company’s stock worth $25,000 after buying an additional 150 shares during the last quarter. Rise Advisors LLC bought a new stake in shares of Regal Rexnord in the 1st quarter worth approximately $33,000. GAMMA Investing LLC bought a new stake in shares of Regal Rexnord in the 4th quarter worth approximately $58,000. ICA Group Wealth Management LLC bought a new stake in shares of Regal Rexnord in the 4th quarter worth approximately $70,000. Finally, Benjamin F. Edwards & Company Inc. bought a new stake in shares of Regal Rexnord in the 4th quarter worth approximately $100,000. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Regal Rexnord Price Performance

NYSE RRX traded up $2.61 on Monday, hitting $143.73. The stock had a trading volume of 96,234 shares, compared to its average volume of 447,079. Regal Rexnord Co. has a 52-week low of $97.18 and a 52-week high of $183.85. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.56 and a current ratio of 2.62. The company has a market capitalization of $9.56 billion, a price-to-earnings ratio of -294.00, a price-to-earnings-growth ratio of 1.43 and a beta of 1.10. The firm has a 50-day moving average of $153.86 and a 200-day moving average of $154.61.

Regal Rexnord (NYSE:RRX) last released its earnings results on Monday, May 6th. The company reported $2.00 EPS for the quarter, beating the consensus estimate of $1.98 by $0.02. Regal Rexnord had a negative net margin of 0.48% and a positive return on equity of 9.42%. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same quarter last year, the firm earned $2.22 EPS. The firm’s quarterly revenue was up 26.4% compared to the same quarter last year. Equities analysts expect that Regal Rexnord Co. will post 9.82 EPS for the current year.

Regal Rexnord Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be given 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 0.97%. Regal Rexnord’s dividend payout ratio is -291.67%.

Wall Street Analysts Forecast Growth

RRX has been the topic of a number of research reports. Barclays lowered their price target on shares of Regal Rexnord from $199.00 to $181.00 and set an “overweight” rating on the stock in a report on Tuesday, June 4th. KeyCorp boosted their price target on shares of Regal Rexnord from $180.00 to $210.00 and gave the company an “overweight” rating in a research report on Monday, March 25th. Robert W. Baird upped their price target on shares of Regal Rexnord from $205.00 to $208.00 and gave the company an “outperform” rating in a research note on Wednesday, May 8th. StockNews.com upgraded shares of Regal Rexnord from a “hold” rating to a “buy” rating in a research note on Tuesday, June 18th. Finally, Oppenheimer upped their price target on shares of Regal Rexnord from $185.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, March 13th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $192.00.

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.