Headlands Technologies LLC Acquires New Stake in Regal Rexnord Co. (NYSE:RRX)

Headlands Technologies LLC bought a new position in Regal Rexnord Co. (NYSE:RRX) during the 2nd quarter, Holdings Channel.com reports. The fund bought 342 shares of the company’s stock, valued at approximately $46,000.

Other large investors have also made changes to their positions in the company. Rise Advisors LLC purchased a new stake in shares of Regal Rexnord in the 1st quarter worth $33,000. 1620 Investment Advisors Inc. bought a new stake in Regal Rexnord during the second quarter valued at about $52,000. EntryPoint Capital LLC purchased a new stake in Regal Rexnord in the first quarter worth about $68,000. Riverview Trust Co bought a new position in shares of Regal Rexnord in the first quarter worth about $75,000. Finally, GAMMA Investing LLC lifted its position in shares of Regal Rexnord by 13.9% during the 2nd quarter. GAMMA Investing LLC now owns 647 shares of the company’s stock valued at $87,000 after buying an additional 79 shares in the last quarter. 99.72% of the stock is currently owned by institutional investors.

Regal Rexnord Trading Up 5.1 %

Shares of Regal Rexnord stock opened at $163.75 on Wednesday. The firm has a market cap of $10.90 billion, a price-to-earnings ratio of -341.15, a PEG ratio of 1.56 and a beta of 1.04. Regal Rexnord Co. has a twelve month low of $97.18 and a twelve month high of $183.85. The business has a 50-day moving average price of $154.74 and a 200-day moving average price of $156.81. The company has a quick ratio of 1.38, a current ratio of 2.45 and a debt-to-equity ratio of 0.91.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings results on Wednesday, July 31st. The company reported $2.29 EPS for the quarter, topping the consensus estimate of $2.14 by $0.15. Regal Rexnord had a positive return on equity of 9.16% and a negative net margin of 0.02%. The company had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same quarter last year, the business posted $2.56 earnings per share. The firm’s revenue was down 12.5% on a year-over-year basis. Equities research analysts anticipate that Regal Rexnord Co. will post 9.53 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be given a $0.35 dividend. The ex-dividend date is Friday, September 27th. This represents a $1.40 dividend on an annualized basis and a yield of 0.85%. Regal Rexnord’s dividend payout ratio is presently -291.67%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on RRX shares. Barclays decreased their target price on shares of Regal Rexnord from $181.00 to $180.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Raymond James assumed coverage on shares of Regal Rexnord in a research report on Friday, June 28th. They set a “market perform” rating on the stock. KeyCorp dropped their target price on shares of Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Robert W. Baird raised their price target on Regal Rexnord from $208.00 to $213.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Finally, The Goldman Sachs Group boosted their price objective on Regal Rexnord from $176.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $189.83.

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.