Atria Investments Inc Grows Position in Regal Rexnord Corporation $RRX

Atria Investments Inc grew its holdings in Regal Rexnord Corporation (NYSE:RRX) by 30.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & 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 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. First Citizens Bank & Trust Co. bought a new position in shares of Regal Rexnord in the second quarter worth $733,000. Phoenix Financial Ltd. bought a new stake in Regal Rexnord during the second quarter valued at $673,000. Nordea Investment Management AB purchased a new position in Regal Rexnord during the second quarter worth about $224,889,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Regal Rexnord in the 2nd quarter worth about $3,229,000. Finally, Hantz Financial Services Inc. raised its holdings in shares of Regal Rexnord by 16.8% in the 2nd quarter. Hantz Financial Services Inc. now owns 133,077 shares of the company’s stock valued at $19,291,000 after acquiring an additional 19,127 shares in the last quarter. 99.72% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Barclays reissued an “overweight” rating and set a $165.00 price objective on shares of Regal Rexnord in a report on Monday, November 3rd. JPMorgan Chase & Co. dropped their target price on shares of Regal Rexnord from $200.00 to $190.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. Robert W. Baird set a $212.00 price target on shares of Regal Rexnord in a research note on Friday, October 31st. Weiss Ratings restated a “hold (c)” rating on shares of Regal Rexnord in a research report on Wednesday, October 8th. Finally, The Goldman Sachs Group dropped their price objective on shares of Regal Rexnord from $192.00 to $170.00 and set a “buy” rating for the company in a report on Tuesday, September 16th. Eight 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $184.63.

Regal Rexnord Price Performance

Shares of Regal Rexnord stock opened at $136.04 on Monday. 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 Corporation has a one year low of $90.56 and a one year high of $182.70. The business’s 50 day simple moving average is $143.26 and its two-hundred day simple moving average is $142.04. The stock has a market capitalization of $9.03 billion, a P/E ratio of 35.15, a price-to-earnings-growth ratio of 1.52 and a beta of 1.19.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings data on Friday, September 8th. The company reported $2.76 earnings per share for the quarter. Regal Rexnord had a return on equity of 9.75% and a net margin of 4.38%.The firm had revenue of $1.85 billion during the quarter. Analysts forecast that Regal Rexnord Corporation will post 9.95 EPS for the current year.

Regal Rexnord Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 14th. Shareholders of record on Wednesday, December 31st will be issued a $0.35 dividend. 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 36.18%.

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.