1,817 Shares in Regal Rexnord Corporation $RRX Acquired by Whalen Wealth Management Inc.

Whalen Wealth Management Inc. bought a new position in shares of Regal Rexnord Corporation (NYSE:RRX) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,817 shares of the company’s stock, valued at approximately $263,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Oarsman Capital Inc. bought a new stake in Regal Rexnord during the second quarter worth approximately $218,000. Jennison Associates LLC boosted its stake in 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 purchasing an additional 45,821 shares during the period. Teacher Retirement System of Texas boosted its stake in Regal Rexnord by 3.0% in the 2nd quarter. Teacher Retirement System of Texas now owns 16,319 shares of the company’s stock worth $2,366,000 after purchasing an additional 477 shares during the period. Envestnet Asset Management Inc. boosted its stake in Regal Rexnord by 10.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 76,135 shares of the company’s stock worth $11,036,000 after purchasing an additional 7,370 shares during the period. Finally, Nisa Investment Advisors LLC boosted its stake in Regal Rexnord by 77.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 5,865 shares of the company’s stock worth $852,000 after purchasing an additional 2,569 shares during the period. 99.72% of the stock is currently owned by institutional investors.

Regal Rexnord Stock Performance

Shares of RRX opened at $150.81 on Thursday. The company has a market capitalization of $10.01 billion, a PE ratio of 40.11, a price-to-earnings-growth ratio of 1.46 and a beta of 1.16. Regal Rexnord Corporation has a one year low of $90.56 and a one year 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 company’s fifty day moving average price is $145.05 and its 200 day moving average price is $139.84.

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

Regal Rexnord Dividend Announcement

The business 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 is Wednesday, December 31st. This represents a $1.40 annualized dividend and a dividend yield of 0.9%. Regal Rexnord’s payout ratio is presently 37.23%.

Wall Street Analysts Forecast Growth

RRX has been the subject of a number of recent analyst reports. 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Regal Rexnord in a research note on Wednesday, October 8th. Barclays decreased 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 note on Tuesday, September 16th. JPMorgan Chase & Co. began coverage on shares of Regal Rexnord in a research note on Monday, September 15th. They issued an “overweight” rating and a $200.00 price objective for the company. Finally, 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. Eight analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Regal Rexnord presently has a consensus rating of “Moderate Buy” and an average price target of $180.38.

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.