AlphaQuest LLC Purchases 869 Shares of Regal Rexnord Corporation $RRX

AlphaQuest LLC raised its position in shares of Regal Rexnord Corporation (NYSE:RRX) by 35.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,335 shares of the company’s stock after acquiring an additional 869 shares during the period. AlphaQuest LLC’s holdings in Regal Rexnord were worth $483,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Geneos Wealth Management Inc. boosted its holdings in Regal Rexnord by 135.1% during 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 Regal Rexnord by 106.2% during 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 raised its position in shares of Regal Rexnord by 91.6% during the first quarter. Jones Financial Companies Lllp now owns 617 shares of the company’s stock valued at $70,000 after buying an additional 295 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of Regal Rexnord during the first quarter valued at about $81,000. Finally, Signaturefd LLC raised its position in shares of Regal Rexnord by 25.5% during the first quarter. Signaturefd LLC now owns 911 shares of the company’s stock valued at $104,000 after buying an additional 185 shares during the last quarter. 99.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented 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 reaffirmed a “hold (c)” rating on shares of Regal Rexnord in a research report on Wednesday, October 8th. KeyCorp cut their price objective 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. The Goldman Sachs Group cut their price objective 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, Barclays cut their price objective 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. Eight research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Regal Rexnord currently has a consensus rating of “Moderate Buy” and a consensus target price of $180.38.

Regal Rexnord Stock Performance

NYSE:RRX opened at $144.77 on Wednesday. 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 firm has a market capitalization of $9.61 billion, a PE ratio of 38.50, a price-to-earnings-growth ratio of 1.48 and a beta of 1.16. The firm has a 50-day moving average price of $144.94 and a 200 day moving average price of $139.48.

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

Regal Rexnord Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 14th. Stockholders of record on Wednesday, December 31st will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $1.40 annualized dividend and a dividend yield of 1.0%. Regal Rexnord’s dividend payout ratio (DPR) is presently 37.23%.

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.