Baird Financial Group Inc. grew its holdings in shares of Regal Rexnord Co. (NYSE:RRX – Get Rating) by 1.2% during the second quarter, Holdings Channel.com reports. The firm owned 7,269 shares of the company’s stock after buying an additional 85 shares during the quarter. Baird Financial Group Inc.’s holdings in Regal Rexnord were worth $825,000 as of its most recent filing with the SEC.
Several other large investors have also bought and sold shares of the company. Truist Financial Corp bought a new stake in shares of Regal Rexnord during the first quarter worth $992,000. Daiwa Securities Group Inc. bought a new stake in Regal Rexnord in the first quarter valued at approximately $235,000. Signaturefd LLC bought a new position in shares of Regal Rexnord during the first quarter worth approximately $90,000. Verdence Capital Advisors LLC bought a new position in shares of Regal Rexnord during the first quarter worth approximately $332,000. Finally, Calamos Advisors LLC acquired a new stake in Regal Rexnord during the first quarter worth approximately $1,702,000. Institutional investors own 97.00% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on the company. The Goldman Sachs Group increased their price target on Regal Rexnord from $165.00 to $187.00 and gave the stock a “buy” rating in a research report on Wednesday, September 14th. KeyCorp raised their target price on Regal Rexnord from $155.00 to $172.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 23rd. StockNews.com started coverage on Regal Rexnord in a research note on Wednesday, October 12th. They set a “buy” rating for the company. Robert W. Baird lowered their price objective on Regal Rexnord from $174.00 to $167.00 in a research report on Wednesday, November 2nd. Finally, Barclays lifted their target price on shares of Regal Rexnord from $140.00 to $157.00 in a report on Wednesday, August 3rd.
Regal Rexnord Stock Up 2.8 %
Regal Rexnord Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 13th. Shareholders of record on Friday, December 30th will be paid a dividend of $0.35 per share. The ex-dividend date is Thursday, December 29th. This represents a $1.40 annualized dividend and a yield of 1.08%. Regal Rexnord’s dividend payout ratio (DPR) is presently 24.56%.
Regal Rexnord Profile
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.
- Get a free copy of the StockNews.com research report on Regal Rexnord (RRX)
- Is GameStop Stock Setting Up for Another Short Squeeze?
- Here’s Why SoFi Technologies Stock is Cheap at These Levels
- Warren Buffet Bought Taiwan Semiconductor Stock, Should You?
- MarketBeat: Week in Review 11/14 – 11/18
- Target’s Double Bottom Might Have Just Been Confirmed
Receive News & Ratings for Regal Rexnord Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Regal Rexnord and related companies with MarketBeat.com's FREE daily email newsletter.