FNY Investment Advisers LLC Acquires New Holdings in Regal Rexnord Co. (NYSE:RRX)

FNY Investment Advisers LLC acquired a new stake in Regal Rexnord Co. (NYSE:RRX) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 700 shares of the company’s stock, valued at approximately $107,000.

Other hedge funds have also recently bought and sold shares of the company. Snowden Capital Advisors LLC raised its position in shares of Regal Rexnord by 2.4% during the 1st quarter. Snowden Capital Advisors LLC now owns 3,766 shares of the company’s stock worth $530,000 after buying an additional 89 shares in the last quarter. Ronald Blue Trust Inc. raised its position in shares of Regal Rexnord by 2.7% during the 1st quarter. Ronald Blue Trust Inc. now owns 3,479 shares of the company’s stock worth $418,000 after buying an additional 91 shares in the last quarter. Moody National Bank Trust Division raised its position in shares of Regal Rexnord by 0.8% during the 2nd quarter. Moody National Bank Trust Division now owns 12,392 shares of the company’s stock worth $1,907,000 after buying an additional 97 shares in the last quarter. Toroso Investments LLC raised its position in shares of Regal Rexnord by 5.5% during the 3rd quarter. Toroso Investments LLC now owns 1,883 shares of the company’s stock worth $264,000 after buying an additional 98 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its position in shares of Regal Rexnord by 50.0% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 330 shares of the company’s stock worth $46,000 after buying an additional 110 shares in the last quarter. 96.67% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on RRX shares. Robert W. Baird boosted their price target on shares of Regal Rexnord from $184.00 to $211.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 2nd. StockNews.com started coverage on shares of Regal Rexnord in a research report on Friday, August 18th. They set a “hold” rating on the stock. Finally, Oppenheimer lifted their price objective on shares of Regal Rexnord from $190.00 to $200.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 2nd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Regal Rexnord presently has an average rating of “Moderate Buy” and an average price target of $195.00.

Regal Rexnord Price Performance

Shares of RRX traded down $1.93 during mid-day trading on Friday, hitting $151.34. The company’s stock had a trading volume of 589,436 shares, compared to its average volume of 256,258. The firm has a 50-day moving average price of $155.53 and a 200 day moving average price of $145.16. The stock has a market capitalization of $10.04 billion, a price-to-earnings ratio of 40.68, a PEG ratio of 1.47 and a beta of 1.08. The company has a debt-to-equity ratio of 1.03, a current ratio of 2.52 and a quick ratio of 1.37. Regal Rexnord Co. has a fifty-two week low of $111.84 and a fifty-two week high of $166.00.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings data on Monday, July 31st. The company reported $2.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.44 by $0.12. The company had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.77 billion. Regal Rexnord had a net margin of 4.45% and a return on equity of 10.53%. The business’s revenue was up 31.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.76 EPS. On average, research analysts predict that Regal Rexnord Co. will post 10.41 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.93%. The ex-dividend date is Thursday, September 28th. Regal Rexnord’s dividend payout ratio (DPR) is currently 37.63%.

Insider Transactions at Regal Rexnord

In other news, VP John Avampato sold 8,427 shares of Regal Rexnord stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $151.83, for a total value of $1,279,471.41. Following the transaction, the vice president now directly owns 12,953 shares of the company’s stock, valued at $1,966,653.99. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.98% of the stock is currently owned by insiders.

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. It operates in four segments: Commercial Systems, Industrial Systems, Climate Solutions, and Motion Control Solutions.