Fox Run Management L.L.C. Invests $741,000 in Regal Rexnord Corporation (NYSE:RRX)

Fox Run Management L.L.C. bought a new position in shares of Regal Rexnord Corporation (NYSE:RRX) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 6,511 shares of the company’s stock, valued at approximately $741,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kovitz Investment Group Partners LLC grew its holdings in shares of Regal Rexnord by 3.8% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,382 shares of the company’s stock valued at $370,000 after purchasing an additional 87 shares during the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Regal Rexnord by 0.7% during the first quarter. Oregon Public Employees Retirement Fund now owns 13,549 shares of the company’s stock valued at $1,543,000 after purchasing an additional 100 shares during the last quarter. Cetera Investment Advisers grew its holdings in shares of Regal Rexnord by 3.6% during the first quarter. Cetera Investment Advisers now owns 2,920 shares of the company’s stock valued at $332,000 after purchasing an additional 102 shares during the last quarter. Greenleaf Trust grew its holdings in shares of Regal Rexnord by 2.1% during the first quarter. Greenleaf Trust now owns 5,187 shares of the company’s stock valued at $591,000 after purchasing an additional 105 shares during the last quarter. Finally, Xponance Inc. boosted its position in shares of Regal Rexnord by 1.5% during the first quarter. Xponance Inc. now owns 7,866 shares of the company’s stock worth $896,000 after buying an additional 120 shares during the period. 99.72% of the stock is owned by institutional investors.

Analysts Set New Price Targets

RRX has been the subject of several analyst reports. The Goldman Sachs Group boosted their price objective on Regal Rexnord from $173.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th. Wall Street Zen downgraded Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Barclays upped their target price on Regal Rexnord from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 9th. Citigroup restated a “buy” rating and issued a $165.00 target price (up from $145.00) on shares of Regal Rexnord in a research report on Tuesday, June 24th. Finally, KeyCorp set a $180.00 price target on Regal Rexnord and gave the company an “overweight” rating in a report on Thursday, June 26th. Nine analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $185.25.

Regal Rexnord Trading Down 1.7%

NYSE RRX opened at $145.74 on Friday. Regal Rexnord Corporation has a 1-year low of $90.56 and a 1-year high of $185.28. The company has a current ratio of 2.00, a quick ratio of 0.93 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $9.67 billion, a PE ratio of 38.76, a price-to-earnings-growth ratio of 1.47 and a beta of 1.18. The firm’s fifty day simple moving average is $147.25 and its 200-day simple moving average is $132.32.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $2.48 earnings per share for the quarter, topping analysts’ consensus estimates of $2.42 by $0.06. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.50 billion. Regal Rexnord had a net margin of 4.28% and a return on equity of 9.73%. Regal Rexnord’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.29 earnings per share. As a group, sell-side analysts anticipate that Regal Rexnord Corporation will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 14th. Stockholders of record on Tuesday, September 30th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, September 30th. Regal Rexnord’s dividend payout ratio (DPR) is currently 37.23%.

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.