Regal Rexnord Corporation $RRX Stake Increased by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC increased its stake in shares of Regal Rexnord Corporation (NYSE:RRX) by 76.5% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 398,107 shares of the company’s stock after buying an additional 172,568 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in Regal Rexnord were worth $57,710,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Seeds Investor LLC acquired a new stake in shares of Regal Rexnord during the 2nd quarter valued at $327,000. Handelsbanken Fonder AB raised its holdings in shares of Regal Rexnord by 27.1% during the second quarter. Handelsbanken Fonder AB now owns 24,290 shares of the company’s stock worth $3,521,000 after acquiring an additional 5,176 shares in the last quarter. Auxano Advisors LLC raised its holdings in shares of Regal Rexnord by 14.8% during the second quarter. Auxano Advisors LLC now owns 8,887 shares of the company’s stock worth $1,288,000 after acquiring an additional 1,148 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Regal Rexnord during the second quarter valued at $485,000. Finally, Howe & Rusling Inc. purchased a new position in Regal Rexnord in the second quarter valued at about $6,573,000. 99.72% of the stock is owned by hedge funds and other institutional investors.

Regal Rexnord Trading Down 1.7%

Shares of RRX opened at $128.82 on Friday. The stock’s 50-day moving average price is $141.19 and its 200 day moving average price is $143.18. 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 firm has a market capitalization of $8.55 billion, a price-to-earnings ratio of 33.29, a P/E/G ratio of 1.52 and a beta of 1.19. Regal Rexnord Corporation has a 12-month low of $90.56 and a 12-month high of $182.70.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings results on Friday, September 8th. The company reported $2.76 EPS for the quarter. Regal Rexnord had a net margin of 4.38% and a return on equity of 9.75%. The firm had revenue of $1.85 billion during the quarter. As a group, research analysts predict that Regal Rexnord Corporation will post 9.95 earnings per share for the current year.

Regal Rexnord Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 14th. Stockholders of record on Wednesday, December 31st will be paid a $0.35 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.1%. Regal Rexnord’s payout ratio is 36.18%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on RRX shares. Robert W. Baird set a $212.00 price target on Regal Rexnord in a research note on Friday, October 31st. The Goldman Sachs Group reduced their target price on shares of Regal Rexnord from $192.00 to $170.00 and set a “buy” rating for the company in a research note on Tuesday, September 16th. Wall Street Zen lowered shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research note on Sunday, September 21st. KeyCorp cut their price target on shares of Regal Rexnord from $180.00 to $170.00 and set an “overweight” rating on the stock in a report on Tuesday, October 14th. Finally, Barclays reiterated an “overweight” rating and issued a $165.00 price objective on shares of Regal Rexnord in a report on Monday, November 3rd. Eight investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $184.63.

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.