Atria Investments Inc Acquires 825 Shares of Regal Rexnord Corporation $RRX

Atria Investments Inc lifted its stake in Regal Rexnord Corporation (NYSE:RRX) by 30.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,538 shares of the company’s stock after purchasing an additional 825 shares during the period. Atria Investments Inc’s holdings in Regal Rexnord were worth $513,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Retirement Systems of Alabama boosted its position in shares of Regal Rexnord by 0.3% during the second quarter. Retirement Systems of Alabama now owns 154,177 shares of the company’s stock valued at $22,349,000 after purchasing an additional 470 shares in the last quarter. Hantz Financial Services Inc. lifted its position in Regal Rexnord by 16.8% during the second quarter. Hantz Financial Services Inc. now owns 133,077 shares of the company’s stock valued at $19,291,000 after buying an additional 19,127 shares during the period. Whalen Wealth Management Inc. purchased a new position in Regal Rexnord during the second quarter valued at $263,000. Oarsman Capital Inc. bought a new stake in shares of Regal Rexnord during the 2nd quarter valued at $218,000. Finally, Jennison Associates LLC grew its position in shares of Regal Rexnord by 25.4% in the 2nd quarter. Jennison Associates LLC now owns 226,428 shares of the company’s stock worth $32,823,000 after buying an additional 45,821 shares during the period. Institutional investors own 99.72% of the company’s stock.

Regal Rexnord Stock Up 0.5%

Regal Rexnord stock opened at $136.04 on Monday. Regal Rexnord Corporation has a 12 month low of $90.56 and a 12 month high of $182.70. The stock has a fifty day simple moving average of $143.26 and a two-hundred day simple moving average of $142.04. The firm has a market cap of $9.03 billion, a price-to-earnings ratio of 35.15, a PEG ratio of 1.52 and a beta of 1.19. The company has a current ratio of 2.00, a quick ratio of 0.93 and a debt-to-equity ratio of 0.72.

Regal Rexnord (NYSE:RRX) last posted its earnings results on Friday, September 8th. The company reported $2.76 earnings per share (EPS) for the quarter. Regal Rexnord had a net margin of 4.38% and a return on equity of 9.75%. The business had revenue of $1.85 billion for the quarter. Equities analysts predict 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. Shareholders 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 yield of 1.0%. Regal Rexnord’s payout ratio is currently 36.18%.

Wall Street Analysts Forecast Growth

RRX has been the subject of a number of recent research reports. KeyCorp lowered their price target 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. Robert W. Baird set a $212.00 price target on Regal Rexnord in a research report on Friday, October 31st. JPMorgan Chase & Co. reduced their price objective on Regal Rexnord from $200.00 to $190.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. The Goldman Sachs Group lowered their price objective on Regal Rexnord from $192.00 to $170.00 and set a “buy” rating for the company in a research note on Tuesday, September 16th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Regal Rexnord in a report on Wednesday, October 8th. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $184.63.

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.