abrdn plc Acquires Shares of 4,652 Regal Rexnord Co. (NYSE:RRX)

abrdn plc acquired a new stake in Regal Rexnord Co. (NYSE:RRXGet Rating) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,652 shares of the company’s stock, valued at approximately $706,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bowling Portfolio Management LLC purchased a new stake in shares of Regal Rexnord during the first quarter worth about $333,000. Moody National Bank Trust Division purchased a new stake in shares of Regal Rexnord during the first quarter worth about $1,365,000. Wedge Capital Management L L P NC purchased a new stake in shares of Regal Rexnord during the first quarter worth about $13,537,000. Seelaus Asset Management LLC purchased a new stake in shares of Regal Rexnord during the first quarter worth about $611,000. Finally, State of Alaska Department of Revenue purchased a new stake in shares of Regal Rexnord during the first quarter worth about $1,418,000. Hedge funds and other institutional investors own 98.16% of the company’s stock.

Analyst Ratings Changes

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

Regal Rexnord Stock Performance

Shares of RRX stock opened at $133.49 on Wednesday. The firm’s 50 day moving average price is $119.79 and its 200-day moving average price is $138.02. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.55 and a current ratio of 2.81. Regal Rexnord Co. has a one year low of $108.28 and a one year high of $176.91. The firm has a market cap of $8.94 billion, a P/E ratio of 24.63, a P/E/G ratio of 1.27 and a beta of 1.27.

Regal Rexnord (NYSE:RRXGet Rating) last issued its quarterly earnings data on Monday, August 1st. The company reported $2.76 EPS for the quarter, topping the consensus estimate of $2.61 by $0.15. Regal Rexnord had a net margin of 6.28% and a return on equity of 11.36%. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the business posted $2.28 EPS. The business’s revenue for the quarter was up 52.1% compared to the same quarter last year. As a group, equities research analysts predict that Regal Rexnord Co. will post 10.58 EPS for the current year.

Regal Rexnord Announces Dividend

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

Regal Rexnord Profile

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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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