Hengehold Capital Management LLC Acquires 65 Shares of Regal Rexnord Co. (NYSE:RRX)

Hengehold Capital Management LLC boosted its holdings in Regal Rexnord Co. (NYSE:RRX) by 1.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,315 shares of the company’s stock after acquiring an additional 65 shares during the quarter. Hengehold Capital Management LLC’s holdings in Regal Rexnord were worth $716,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in RRX. GAMMA Investing LLC boosted its position in shares of Regal Rexnord by 13.9% during the second quarter. GAMMA Investing LLC now owns 647 shares of the company’s stock valued at $87,000 after buying an additional 79 shares during the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of Regal Rexnord by 2.6% in the first quarter. Oppenheimer Asset Management Inc. now owns 3,808 shares of the company’s stock valued at $686,000 after purchasing an additional 95 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Regal Rexnord by 3.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,282 shares of the company’s stock valued at $591,000 after purchasing an additional 102 shares in the last quarter. Industrial Alliance Investment Management Inc. grew its position in Regal Rexnord by 4.4% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 2,697 shares of the company’s stock worth $486,000 after purchasing an additional 113 shares in the last quarter. Finally, UMB Bank n.a. lifted its position in shares of Regal Rexnord by 72.5% during the 3rd quarter. UMB Bank n.a. now owns 345 shares of the company’s stock worth $57,000 after buying an additional 145 shares in the last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on RRX. Robert W. Baird increased their price target on Regal Rexnord from $208.00 to $213.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Loop Capital reiterated a “buy” rating and set a $200.00 target price on shares of Regal Rexnord in a research note on Thursday, September 19th. Raymond James started coverage on shares of Regal Rexnord in a research report on Friday, June 28th. They set a “market perform” rating for the company. The Goldman Sachs Group lifted their price objective on shares of Regal Rexnord from $176.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, Barclays increased their target price on shares of Regal Rexnord from $180.00 to $190.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $193.63.

Regal Rexnord Stock Performance

Shares of RRX opened at $177.76 on Thursday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.38 and a current ratio of 2.45. The stock has a market capitalization of $11.82 billion, a price-to-earnings ratio of -370.97, a price-to-earnings-growth ratio of 1.76 and a beta of 1.04. Regal Rexnord Co. has a 52-week low of $97.18 and a 52-week high of $183.85. The stock’s 50-day simple moving average is $162.07 and its 200 day simple moving average is $156.00.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $2.29 EPS for the quarter, beating the consensus estimate of $2.14 by $0.15. Regal Rexnord had a negative net margin of 0.02% and a positive return on equity of 9.16%. The company had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter in the previous year, the company earned $2.56 earnings per share. Regal Rexnord’s revenue for the quarter was down 12.5% on a year-over-year basis. Research analysts forecast that Regal Rexnord Co. will post 9.48 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.79%. The ex-dividend date was Friday, September 27th. Regal Rexnord’s payout ratio is -291.67%.

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. The Industrial Powertrain Solutions segment provides mounted and unmounted bearings, couplings, mechanical power transmission drives and components, gearboxes, gear motors, clutches, brakes, special, and industrial powertrain components and solutions for food and beverage, bulk material handling, eCommerce/warehouse distribution, energy, mining, marine, agricultural machinery, turf and garden, and general industrial markets.