Regal Rexnord Corporation $RRX Shares Purchased by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. boosted its holdings in Regal Rexnord Corporation (NYSE:RRX) by 222.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,143 shares of the company’s stock after purchasing an additional 4,235 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Regal Rexnord were worth $890,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. boosted its holdings in shares of Regal Rexnord by 135.1% in the first quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock valued at $25,000 after acquiring an additional 127 shares during the period. Golden State Wealth Management LLC boosted its holdings in shares of Regal Rexnord by 106.2% in the first quarter. Golden State Wealth Management LLC now owns 268 shares of the company’s stock valued at $31,000 after acquiring an additional 138 shares during the period. Jones Financial Companies Lllp boosted its holdings in shares of Regal Rexnord by 91.6% in the first quarter. Jones Financial Companies Lllp now owns 617 shares of the company’s stock valued at $70,000 after acquiring an additional 295 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Regal Rexnord in the first quarter valued at approximately $81,000. Finally, Signaturefd LLC boosted its holdings in shares of Regal Rexnord by 25.5% in the first quarter. Signaturefd LLC now owns 911 shares of the company’s stock valued at $104,000 after acquiring an additional 185 shares during the period. 99.72% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. assumed coverage on Regal Rexnord in a report on Monday, September 15th. They issued an “overweight” rating and a $200.00 price objective for the company. The Goldman Sachs Group decreased their price objective on Regal Rexnord from $192.00 to $170.00 and set a “buy” rating for the company in a report on Tuesday, September 16th. Citigroup reissued a “buy” rating and issued a $165.00 price objective (up from $145.00) on shares of Regal Rexnord in a report on Tuesday, June 24th. KeyCorp cut their price target on Regal Rexnord from $180.00 to $170.00 and set an “overweight” rating for the company in a research note on Tuesday, October 14th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Regal Rexnord in a research note on Wednesday, October 8th. Eight investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $180.38.

Regal Rexnord Price Performance

Regal Rexnord stock opened at $140.41 on Monday. Regal Rexnord Corporation has a 12 month low of $90.56 and a 12 month high of $185.28. 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 business has a 50 day simple moving average of $145.05 and a 200-day simple moving average of $137.19. The stock has a market capitalization of $9.32 billion, a PE ratio of 37.34, a price-to-earnings-growth ratio of 1.41 and a beta of 1.16.

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

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.