Regal Rexnord Corporation $RRX is Leeward Investments LLC MA’s 8th Largest Position

Leeward Investments LLC MA reduced its position in Regal Rexnord Corporation (NYSE:RRX) by 2.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 185,875 shares of the company’s stock after selling 5,403 shares during the period. Regal Rexnord comprises approximately 1.4% of Leeward Investments LLC MA’s holdings, making the stock its 8th largest position. Leeward Investments LLC MA owned approximately 0.28% of Regal Rexnord worth $26,944,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. raised its holdings in Regal Rexnord by 135.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock worth $25,000 after acquiring an additional 127 shares during the last quarter. Golden State Wealth Management LLC raised its holdings in Regal Rexnord by 106.2% in the 1st quarter. Golden State Wealth Management LLC now owns 268 shares of the company’s stock worth $31,000 after acquiring an additional 138 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in Regal Rexnord by 91.6% in the 1st quarter. Jones Financial Companies Lllp now owns 617 shares of the company’s stock worth $70,000 after acquiring an additional 295 shares during the last quarter. Headlands Technologies LLC purchased a new position in Regal Rexnord in the 1st quarter worth approximately $81,000. Finally, Parallel Advisors LLC raised its holdings in Regal Rexnord by 69.0% in the 2nd quarter. Parallel Advisors LLC now owns 818 shares of the company’s stock worth $119,000 after acquiring an additional 334 shares during the last quarter. 99.72% of the stock is currently owned by hedge funds and other institutional investors.

Regal Rexnord Trading Up 0.1%

Shares of RRX stock opened at $147.53 on Friday. Regal Rexnord Corporation has a 1 year low of $90.56 and a 1 year high of $185.28. The firm has a fifty day moving average price of $145.02 and a 200-day moving average price of $138.65. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.00 and a quick ratio of 0.93. The company has a market cap of $9.79 billion, a price-to-earnings ratio of 39.24, a PEG ratio of 1.48 and a beta of 1.16.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings data on Friday, September 8th. The company reported $2.76 earnings per share (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 during the quarter. As a group, equities analysts predict that Regal Rexnord Corporation will post 9.95 earnings per share for the current year.

Regal Rexnord Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have commented on RRX shares. Wall Street Zen downgraded shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research report on Sunday, September 21st. JPMorgan Chase & Co. started coverage on shares of Regal Rexnord in a research report on Monday, September 15th. They issued an “overweight” rating and a $200.00 target price for the company. Barclays cut their target price on shares of Regal Rexnord from $163.00 to $161.00 and set an “overweight” rating for the company in a research report on Tuesday, September 16th. The Goldman Sachs Group cut 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 report on Tuesday, September 16th. Finally, KeyCorp cut their target price on shares of Regal Rexnord from $180.00 to $170.00 and set an “overweight” rating for the company in a research report on Tuesday, October 14th. Eight investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $180.38.

Regal Rexnord Company 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.