Shell Asset Management Co. Takes Position in Regal Rexnord Co. (NYSE:RRX)

Shell Asset Management Co. purchased a new stake in Regal Rexnord Co. (NYSE:RRXGet Rating) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 4,036 shares of the company’s stock, valued at approximately $600,000.

A number of other hedge funds also recently made changes to their positions in the stock. Foster & Motley Inc. acquired a new stake in Regal Rexnord during the 1st quarter worth approximately $286,000. Verdence Capital Advisors LLC bought a new stake in Regal Rexnord during the 1st quarter valued at $332,000. Mitchell Capital Management Co. purchased a new position in Regal Rexnord during the 1st quarter worth $3,023,000. Private Capital Group LLC purchased a new position in shares of Regal Rexnord in the 1st quarter worth about $192,000. Finally, Assenagon Asset Management S.A. bought a new stake in Regal Rexnord in the 1st quarter valued at about $1,432,000. 98.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on RRX. KeyCorp decreased their price target on Regal Rexnord from $185.00 to $155.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 12th. StockNews.com upgraded shares of Regal Rexnord from a “hold” rating to a “buy” rating in a research report on Friday, July 8th. Barclays cut their target price on Regal Rexnord from $150.00 to $140.00 and set an “overweight” rating for the company in a research note on Friday, July 8th. Finally, The Goldman Sachs Group dropped their price objective on Regal Rexnord from $181.00 to $150.00 and set a “buy” rating for the company in a research note on Thursday, June 23rd. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $165.60.

Regal Rexnord Price Performance

Shares of NYSE:RRX opened at $132.78 on Tuesday. Regal Rexnord Co. has a 1-year low of $108.28 and a 1-year high of $176.91. The business has a fifty day moving average price of $119.51 and a 200-day moving average price of $138.06. The company has a market capitalization of $8.90 billion, a PE ratio of 24.50, a PEG ratio of 1.27 and a beta of 1.27. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.81 and a quick ratio of 1.55.

Regal Rexnord (NYSE:RRXGet Rating) last released its quarterly earnings data on Monday, August 1st. The company reported $2.76 EPS for the quarter, topping the consensus estimate of $2.62 by $0.14. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.32 billion. Regal Rexnord had a return on equity of 11.36% and a net margin of 6.28%. Regal Rexnord’s revenue for the quarter was up 52.1% on a year-over-year basis. During the same period last year, the company earned $2.28 EPS. As a group, equities analysts expect that Regal Rexnord Co. will post 10.58 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.05%. Regal Rexnord’s payout ratio is currently 25.83%.

Regal Rexnord Company Profile

(Get Rating)

Regal Rexnord Corporation, together with its subsidiaries, designs, manufactures, and sells industrial powertrain solutions, power transmission components, electric motors and electronic controls, air moving products, and specialty electrical components and systems worldwide. It operates through four segments: Commercial Systems, Industrial Systems, Climate Solutions, and Motion Control Solutions.

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Institutional Ownership by Quarter for Regal Rexnord (NYSE:RRX)

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