Whalen Wealth Management Inc. Invests $263,000 in Regal Rexnord Corporation $RRX

Whalen Wealth Management Inc. acquired a new position in shares of Regal Rexnord Corporation (NYSE:RRX) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,817 shares of the company’s stock, valued at approximately $263,000.

Several other institutional investors and hedge funds also recently made changes to their positions in RRX. Nordea Investment Management AB acquired a new stake in shares of Regal Rexnord during the 2nd quarter valued at about $224,889,000. Phoenix Financial Ltd. acquired a new stake in shares of Regal Rexnord during the 2nd quarter valued at about $673,000. First Citizens Bank & Trust Co. acquired a new stake in shares of Regal Rexnord during the 2nd quarter valued at about $733,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Regal Rexnord during the 2nd quarter valued at about $3,229,000. Finally, Avantax Advisory Services Inc. boosted its position in shares of Regal Rexnord by 19.7% during the 1st quarter. Avantax Advisory Services Inc. now owns 3,152 shares of the company’s stock valued at $359,000 after acquiring an additional 519 shares in the last quarter. Institutional investors own 99.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. KeyCorp decreased their target price on shares of Regal Rexnord from $180.00 to $170.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 14th. JPMorgan Chase & Co. assumed coverage on shares of Regal Rexnord in a research report on Monday, September 15th. They set an “overweight” rating and a $200.00 target price on the stock. Wall Street Zen lowered shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research report on Sunday, September 21st. Weiss Ratings restated a “hold (c)” rating on shares of Regal Rexnord in a research report on Wednesday, October 8th. Finally, The Goldman Sachs Group reduced their price target on shares of Regal Rexnord from $192.00 to $170.00 and set a “buy” rating on the stock in a research report on Tuesday, September 16th. Eight equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Regal Rexnord currently has an average rating of “Moderate Buy” and an average price target of $180.38.

Regal Rexnord Price Performance

NYSE:RRX opened at $150.81 on Thursday. The firm has a market cap of $10.01 billion, a PE ratio of 40.11, a price-to-earnings-growth ratio of 1.46 and a beta of 1.16. Regal Rexnord Corporation has a 12 month low of $90.56 and a 12 month high of $185.28. The company has a quick ratio of 0.93, a current ratio of 2.00 and a debt-to-equity ratio of 0.72. The company’s 50-day moving average price is $145.05 and its two-hundred day moving average price is $139.84.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings results on Friday, September 8th. The company reported $2.76 EPS for the quarter. Regal Rexnord had a net margin of 4.28% and a return on equity of 9.73%. The firm had revenue of $1.85 billion for the quarter. On average, equities analysts anticipate that Regal Rexnord Corporation will post 9.95 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 14th. Stockholders of record on Wednesday, December 31st will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Wednesday, December 31st. Regal Rexnord’s dividend payout ratio is presently 37.23%.

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.