Jupiter Topco LLC acquired a new stake in Regal Rexnord Corporation (NYSE:RRX – Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 158,639 shares of the company’s stock, valued at approximately $37,784,000. Jupiter Topco LLC owned 0.24% of Regal Rexnord at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. IFP Advisors Inc boosted its holdings in shares of Regal Rexnord by 34.0% in the 4th quarter. IFP Advisors Inc now owns 193 shares of the company’s stock worth $27,000 after buying an additional 49 shares during the last quarter. Parallel Advisors LLC grew its position in Regal Rexnord by 5.6% during the first quarter. Parallel Advisors LLC now owns 938 shares of the company’s stock valued at $176,000 after buying an additional 50 shares during the period. Northwestern Mutual Investment Management Company LLC increased its holdings in Regal Rexnord by 0.4% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 14,855 shares of the company’s stock worth $2,084,000 after buying an additional 60 shares during the last quarter. UMB Bank n.a. increased its holdings in Regal Rexnord by 6.2% during the fourth quarter. UMB Bank n.a. now owns 1,023 shares of the company’s stock worth $144,000 after buying an additional 60 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC raised its position in Regal Rexnord by 3.2% in the first quarter. Fifth Third Wealth Advisors LLC now owns 2,092 shares of the company’s stock worth $392,000 after acquiring an additional 65 shares during the period. 99.72% of the stock is owned by hedge funds and other institutional investors.
Regal Rexnord Price Performance
RRX opened at $164.09 on Friday. The company has a market capitalization of $10.93 billion, a price-to-earnings ratio of 33.83, a PEG ratio of 1.23 and a beta of 1.09. The company has a quick ratio of 1.16, a current ratio of 2.28 and a debt-to-equity ratio of 0.66. The firm has a 50-day moving average price of $199.82 and a 200-day moving average price of $203.22. Regal Rexnord Corporation has a twelve month low of $127.96 and a twelve month high of $247.80.
Regal Rexnord Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 14th. Shareholders of record on Wednesday, September 30th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.40 dividend on an annualized basis and a yield of 0.9%. Regal Rexnord’s payout ratio is presently 28.87%.
Analyst Ratings Changes
A number of research analysts have recently weighed in on RRX shares. DA Davidson began coverage on shares of Regal Rexnord in a research report on Tuesday, June 16th. They set a “buy” rating and a $260.00 target price for the company. JPMorgan Chase & Co. lifted their price target on shares of Regal Rexnord from $230.00 to $240.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. UBS Group set a $260.00 price objective on Regal Rexnord in a research note on Monday, June 15th. Oppenheimer reissued an “outperform” rating on shares of Regal Rexnord in a report on Friday, July 10th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Regal Rexnord in a research report on Friday, July 17th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $244.92.
Check Out Our Latest Analysis on RRX
Regal Rexnord Company Profile
Regal Rexnord Corporation (NYSE: RRX) is a global industrial manufacturer specializing in electric motors, power generation equipment and automated motion control systems. The company designs, engineers and produces a broad portfolio of products that includes energy-efficient electric motors, variable frequency drives, gearboxes, couplings, bearings and power transmission components. These offerings support critical applications in industries such as heating, ventilation and air conditioning (HVAC), refrigeration, data centers, water treatment, food and beverage processing, mining, oil and gas, and material handling.
The company’s operations are organized into multiple business segments that address distinct customer needs.
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