Applied Finance Capital Management LLC Acquires Shares of 1,648 Regal Rexnord Corporation $RRX

Applied Finance Capital Management LLC bought a new position in shares of Regal Rexnord Corporation (NYSE:RRX) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,648 shares of the company’s stock, valued at approximately $239,000.

Other hedge funds have also added to or reduced their stakes in the company. Ritholtz Wealth Management raised its holdings in Regal Rexnord by 22.5% during the 1st quarter. Ritholtz Wealth Management now owns 1,979 shares of the company’s stock worth $225,000 after purchasing an additional 363 shares during the last quarter. State of Alaska Department of Revenue grew its position in shares of Regal Rexnord by 2.6% during the 1st quarter. State of Alaska Department of Revenue now owns 7,754 shares of the company’s stock worth $882,000 after buying an additional 200 shares during the period. Avior Wealth Management LLC raised its stake in shares of Regal Rexnord by 8.1% during the first quarter. Avior Wealth Management LLC now owns 3,205 shares of the company’s stock worth $365,000 after buying an additional 239 shares during the last quarter. Westhampton Capital LLC lifted its holdings in Regal Rexnord by 40.1% in the first quarter. Westhampton Capital LLC now owns 16,895 shares of the company’s stock valued at $1,923,000 after buying an additional 4,840 shares during the period. Finally, Oppenheimer Asset Management Inc. boosted its stake in Regal Rexnord by 48.6% in the first quarter. Oppenheimer Asset Management Inc. now owns 3,548 shares of the company’s stock valued at $404,000 after acquiring an additional 1,160 shares during the last quarter. Institutional investors own 99.72% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. The Goldman Sachs Group dropped their target price 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Regal Rexnord in a research note on Wednesday, October 8th. KeyCorp cut their target price on Regal Rexnord from $180.00 to $170.00 and set an “overweight” rating on the stock in a research note on Tuesday. JPMorgan Chase & Co. initiated coverage on Regal Rexnord in a report on Monday, September 15th. They set an “overweight” rating and a $200.00 target price on the stock. Finally, Barclays lowered their price target on Regal Rexnord from $163.00 to $161.00 and set an “overweight” rating for the company in a research note on Tuesday, September 16th. Eight investment 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, the company currently has an average rating of “Moderate Buy” and a consensus price target of $180.38.

Regal Rexnord Stock Down 2.3%

Shares of Regal Rexnord stock opened at $140.41 on Friday. The company has a market capitalization of $9.32 billion, a P/E ratio of 37.34, a price-to-earnings-growth ratio of 1.41 and a beta of 1.16. 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 business has a 50-day moving average of $145.05 and a two-hundred day moving average of $136.95. Regal Rexnord Corporation has a 1 year low of $90.56 and a 1 year high of $185.28.

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

Regal Rexnord Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 14th. Stockholders of record on Tuesday, September 30th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $1.40 annualized dividend and a dividend yield of 1.0%. Regal Rexnord’s dividend payout ratio is currently 37.23%.

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.