Innealta Capital LLC Takes $238,000 Position in Regal Rexnord Corporation $RRX

Innealta Capital LLC purchased a new stake in Regal Rexnord Corporation (NYSE:RRX) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,639 shares of the company’s stock, valued at approximately $238,000.

Several other large investors have also modified their holdings of RRX. First Citizens Bank & Trust Co. bought a new stake in Regal Rexnord during the second quarter valued at about $733,000. Phoenix Financial Ltd. acquired a new position in shares of Regal Rexnord during the second quarter worth approximately $673,000. Nordea Investment Management AB bought a new stake in shares of Regal Rexnord in the second quarter valued at approximately $224,889,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Regal Rexnord in the second quarter worth $3,229,000. Finally, Hantz Financial Services Inc. increased 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 worth $19,291,000 after acquiring an additional 19,127 shares during the period. 99.72% of the stock is owned by institutional investors.

Regal Rexnord Stock Performance

Regal Rexnord stock opened at $135.34 on Friday. The firm has a market capitalization of $8.99 billion, a P/E ratio of 34.97, a P/E/G ratio of 1.52 and a beta of 1.19. The stock has a fifty day moving average price of $143.52 and a two-hundred day moving average price of $141.22. Regal Rexnord Corporation has a 52-week low of $90.56 and a 52-week high of $182.85. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.00 and a quick ratio of 0.93.

Regal Rexnord (NYSE:RRX) last posted its earnings results on Friday, September 8th. The company reported $2.76 earnings per share for the quarter. The business had revenue of $1.85 billion for the quarter. Regal Rexnord had a net margin of 4.38% and a return on equity of 9.75%. As a group, analysts anticipate that Regal Rexnord Corporation will post 9.95 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 14th. Investors of record on Wednesday, December 31st will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, December 31st. Regal Rexnord’s dividend payout ratio (DPR) is currently 36.18%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on RRX shares. JPMorgan Chase & Co. decreased their price target on shares of Regal Rexnord from $200.00 to $190.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. The Goldman Sachs Group decreased their target price on Regal Rexnord from $192.00 to $170.00 and set a “buy” rating on the stock in a research report on Tuesday, September 16th. Wall Street Zen cut Regal Rexnord from a “strong-buy” rating to a “buy” rating in a report on Sunday, September 21st. Barclays restated an “overweight” rating and set a $165.00 price objective on shares of Regal Rexnord in a research report on Monday. Finally, Weiss Ratings reissued 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 issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Regal Rexnord has a consensus rating of “Moderate Buy” and an average price target of $184.63.

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.