Castleark Management LLC acquired a new stake in Regal Rexnord Corporation (NYSE:RRX – Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 26,330 shares of the company’s stock, valued at approximately $6,272,000.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Clearstead Trust LLC acquired a new stake in Regal Rexnord in the second quarter valued at approximately $25,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Regal Rexnord during the 2nd quarter worth approximately $27,000. Covestor Ltd grew its holdings in Regal Rexnord by 81.6% during the 4th quarter. Covestor Ltd now owns 178 shares of the company’s stock worth $25,000 after acquiring an additional 80 shares in the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Regal Rexnord in the 2nd quarter valued at approximately $43,000. Finally, FNY Investment Advisers LLC acquired a new stake in shares of Regal Rexnord in the 2nd quarter valued at $43,000. Hedge funds and other institutional investors own 99.72% of the company’s stock.
Regal Rexnord Price Performance
RRX stock opened at $162.20 on Wednesday. Regal Rexnord Corporation has a twelve month low of $127.96 and a twelve month high of $247.80. The company has a current ratio of 2.28, a quick ratio of 1.16 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $10.80 billion, a P/E ratio of 33.44, a PEG ratio of 1.21 and a beta of 1.09. The business has a 50 day simple moving average of $202.19 and a 200-day simple moving average of $203.81.
Regal Rexnord Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 14th. Investors 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 annualized dividend and a dividend yield of 0.9%. Regal Rexnord’s dividend payout ratio (DPR) is currently 28.87%.
Analysts Set New Price Targets
Several research firms have recently issued reports on RRX. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Regal Rexnord in a research report on Friday, July 17th. Deutsche Bank Aktiengesellschaft assumed coverage on Regal Rexnord in a report on Monday, July 20th. They issued a “buy” rating and a $286.00 target price on the stock. Wolfe Research set a $250.00 price target on Regal Rexnord in a research note on Thursday, July 9th. JPMorgan Chase & Co. lifted their price target on Regal Rexnord from $230.00 to $240.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Finally, Oppenheimer reaffirmed an “outperform” rating on shares of Regal Rexnord in a research report on Friday, July 10th. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $244.92.
View 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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