Tectonic Advisors LLC Purchases 170 Shares of Regal Rexnord Co. (NYSE:RRX)

Tectonic Advisors LLC boosted its position in Regal Rexnord Co. (NYSE:RRX) by 9.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,987 shares of the company’s stock after purchasing an additional 170 shares during the period. Tectonic Advisors LLC’s holdings in Regal Rexnord were worth $330,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of RRX. Capital World Investors lifted its stake in shares of Regal Rexnord by 4.7% during the 1st quarter. Capital World Investors now owns 6,599,752 shares of the company’s stock worth $1,188,615,000 after acquiring an additional 296,941 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its stake in shares of Regal Rexnord by 7.1% during the second quarter. Diamond Hill Capital Management Inc. now owns 3,181,886 shares of the company’s stock valued at $430,255,000 after purchasing an additional 209,776 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Regal Rexnord by 42.7% during the second quarter. Victory Capital Management Inc. now owns 1,884,575 shares of the company’s stock valued at $254,832,000 after purchasing an additional 563,853 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Regal Rexnord by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,422,350 shares of the company’s stock worth $192,338,000 after purchasing an additional 8,159 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Regal Rexnord by 24.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,125,445 shares of the company’s stock worth $152,183,000 after buying an additional 222,775 shares during the period. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Regal Rexnord Trading Down 1.0 %

Shares of NYSE RRX opened at $166.43 on Friday. Regal Rexnord Co. has a 1-year low of $97.18 and a 1-year high of $183.85. The business has a fifty day moving average price of $164.34 and a 200 day moving average price of $155.90. The stock has a market capitalization of $11.07 billion, a P/E ratio of -346.73, a price-to-earnings-growth ratio of 1.79 and a beta of 1.04. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.45 and a quick ratio of 1.38.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings results on Wednesday, July 31st. The company reported $2.29 EPS for the quarter, beating the consensus estimate 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 business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same period in the prior year, the firm posted $2.56 earnings per share. The company’s quarterly revenue was down 12.5% on a year-over-year basis. Equities research analysts expect that Regal Rexnord Co. will post 9.48 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend is Tuesday, December 31st. Regal Rexnord’s dividend payout ratio is currently -291.67%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. KeyCorp dropped their target price on shares of Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Robert W. Baird increased 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. StockNews.com upgraded Regal Rexnord from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th. Loop Capital reiterated a “buy” rating and issued a $200.00 target price on shares of Regal Rexnord in a report on Thursday, September 19th. Finally, Citigroup began coverage on Regal Rexnord in a research note on Monday, October 14th. They set a “buy” rating and a $200.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Regal Rexnord presently has a consensus rating of “Moderate Buy” and an average price target of $193.63.

About Regal Rexnord

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.