Regal Rexnord Co. (NYSE:RRX) Stake Boosted by Capital International Ltd. CA

Capital International Ltd. CA grew its stake in shares of Regal Rexnord Co. (NYSE:RRX) by 9.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,964 shares of the company’s stock after purchasing an additional 1,724 shares during the quarter. Capital International Ltd. CA’s holdings in Regal Rexnord were worth $3,596,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Rise Advisors LLC bought a new position in shares of Regal Rexnord during the first quarter valued at approximately $33,000. GAMMA Investing LLC bought a new position in shares of Regal Rexnord during the fourth quarter valued at approximately $58,000. EntryPoint Capital LLC bought a new position in shares of Regal Rexnord during the first quarter valued at approximately $68,000. ICA Group Wealth Management LLC bought a new position in shares of Regal Rexnord during the fourth quarter valued at approximately $70,000. Finally, Riverview Trust Co bought a new position in Regal Rexnord during the 1st quarter valued at $75,000. 99.72% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. KeyCorp reduced their target price on Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Raymond James initiated coverage on Regal Rexnord in a research note on Friday, June 28th. They issued a “market perform” rating on the stock. StockNews.com lowered Regal Rexnord from a “buy” rating to a “hold” rating in a research note on Thursday, July 4th. Barclays lowered their price target on Regal Rexnord from $199.00 to $181.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 4th. Finally, Robert W. Baird lifted their price objective on Regal Rexnord from $205.00 to $208.00 and gave the company an “outperform” rating in a report on Wednesday, May 8th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Regal Rexnord presently has a consensus rating of “Moderate Buy” and a consensus price target of $188.00.

Regal Rexnord Stock Up 3.2 %

NYSE RRX traded up $4.79 on Friday, reaching $155.70. The company had a trading volume of 448,568 shares, compared to its average volume of 448,959. The firm has a market capitalization of $10.36 billion, a price-to-earnings ratio of -324.38, a price-to-earnings-growth ratio of 1.50 and a beta of 1.06. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.56 and a current ratio of 2.62. Regal Rexnord Co. has a 1-year low of $97.18 and a 1-year high of $183.85. The company’s fifty day moving average is $144.21 and its 200-day moving average is $154.39.

Regal Rexnord (NYSE:RRX) last issued its earnings results on Monday, May 6th. The company reported $2.00 earnings per share (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 business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same period last year, the business posted $2.22 EPS. Regal Rexnord’s revenue was up 26.4% on a year-over-year basis. On average, research analysts forecast that Regal Rexnord Co. will post 9.73 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be paid a $0.35 dividend. The ex-dividend date is Friday, September 27th. This represents a $1.40 annualized dividend and a yield of 0.90%. Regal Rexnord’s dividend payout ratio (DPR) is currently -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.