Leeward Investments LLC MA Increases Stake in Regal Rexnord Co. (NYSE:RRX)

Leeward Investments LLC MA lifted its holdings in Regal Rexnord Co. (NYSE:RRX) by 0.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 241,840 shares of the company’s stock after buying an additional 2,222 shares during the quarter. Regal Rexnord comprises 1.9% of Leeward Investments LLC MA’s portfolio, making the stock its 3rd biggest holding. Leeward Investments LLC MA owned about 0.36% of Regal Rexnord worth $43,555,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in RRX. Hsbc Holdings PLC lifted its position in shares of Regal Rexnord by 27.4% during the third quarter. Hsbc Holdings PLC now owns 2,902 shares of the company’s stock worth $415,000 after purchasing an additional 625 shares in the last quarter. Mariner LLC increased its stake in shares of Regal Rexnord by 2.1% in the 3rd quarter. Mariner LLC now owns 5,525 shares of the company’s stock valued at $789,000 after buying an additional 113 shares during the period. O Shaughnessy Asset Management LLC lifted its stake in shares of Regal Rexnord by 7.1% during the third quarter. O Shaughnessy Asset Management LLC now owns 3,834 shares of the company’s stock valued at $548,000 after acquiring an additional 253 shares during the period. Treasurer of the State of North Carolina boosted its holdings in Regal Rexnord by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 29,965 shares of the company’s stock valued at $4,281,000 after acquiring an additional 153 shares during the last quarter. Finally, Qube Research & Technologies Ltd increased its position in Regal Rexnord by 1,488.4% in the third quarter. Qube Research & Technologies Ltd now owns 50,592 shares of the company’s stock worth $7,229,000 after purchasing an additional 47,407 shares during the period. Institutional investors and hedge funds own 99.72% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Robert W. Baird raised their target price on shares of Regal Rexnord from $205.00 to $208.00 and gave the company an “outperform” rating in a research note on Wednesday, May 8th. KeyCorp raised their price objective on shares of Regal Rexnord from $180.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, March 25th. StockNews.com cut shares of Regal Rexnord from a “buy” rating to a “hold” rating in a research report on Thursday. Raymond James began coverage on Regal Rexnord in a research report on Friday, June 28th. They issued a “market perform” rating on the stock. Finally, Oppenheimer upped their price objective on Regal Rexnord from $185.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, March 13th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $192.00.

Regal Rexnord Trading Up 1.3 %

Regal Rexnord stock traded up $1.79 during mid-day trading on Thursday, hitting $135.65. 212,571 shares of the company’s stock were exchanged, compared to its average volume of 444,051. The company’s 50 day simple moving average is $149.24 and its 200-day simple moving average is $154.46. The company has a quick ratio of 1.56, a current ratio of 2.62 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $9.02 billion, a P/E ratio of -282.60, a PEG ratio of 1.38 and a beta of 1.06. Regal Rexnord Co. has a fifty-two week low of $97.18 and a fifty-two week high of $183.85.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings results on Monday, May 6th. The company reported $2.00 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.02. Regal Rexnord had a positive return on equity of 9.42% and a negative net margin of 0.48%. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same quarter last year, the firm posted $2.22 earnings per share. Regal Rexnord’s revenue was up 26.4% compared to the same quarter last year. On average, equities analysts anticipate that Regal Rexnord Co. will post 9.73 earnings per share for the current year.

Regal Rexnord Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Friday, June 28th. Regal Rexnord’s dividend 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.