Industrial Alliance Investment Management Inc. Purchases 113 Shares of Regal Rexnord Co. (NYSE:RRX)

Industrial Alliance Investment Management Inc. increased its position in Regal Rexnord Co. (NYSE:RRX) by 4.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 2,697 shares of the company’s stock after buying an additional 113 shares during the period. Industrial Alliance Investment Management Inc.’s holdings in Regal Rexnord were worth $486,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Rise Advisors LLC bought a new position in Regal Rexnord in the 1st quarter worth $33,000. GAMMA Investing LLC purchased a new stake in Regal Rexnord in the 4th quarter worth $58,000. EntryPoint Capital LLC purchased a new stake in Regal Rexnord in the 1st quarter worth $68,000. Riverview Trust Co purchased a new stake in Regal Rexnord in the 1st quarter worth $75,000. Finally, Benjamin F. Edwards & Company Inc. purchased a new stake in Regal Rexnord in the 4th quarter worth $100,000. Institutional investors own 99.72% of the company’s stock.

Regal Rexnord Price Performance

Shares of NYSE RRX traded up $2.70 during mid-day trading on Tuesday, hitting $158.46. 692,244 shares of the company’s stock traded hands, compared to its average volume of 450,953. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.62 and a quick ratio of 1.56. Regal Rexnord Co. has a 1 year low of $97.18 and a 1 year high of $183.85. The company has a market capitalization of $10.54 billion, a P/E ratio of -327.75, a PEG ratio of 1.60 and a beta of 1.06. The company’s 50-day moving average is $144.05 and its two-hundred day moving average is $154.81.

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

Regal Rexnord Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend is Friday, September 27th. Regal Rexnord’s dividend payout ratio (DPR) is currently -291.67%.

Analyst Upgrades and Downgrades

RRX has been the topic of several research analyst reports. Barclays decreased their price target on shares of Regal Rexnord from $199.00 to $181.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 4th. Raymond James initiated coverage on shares of Regal Rexnord in a research note on Friday, June 28th. They issued a “market perform” rating on the stock. StockNews.com cut shares of Regal Rexnord from a “buy” rating to a “hold” rating in a research report on Thursday, July 4th. KeyCorp decreased their target price on shares of Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Finally, Robert W. Baird upped their target price on shares of Regal Rexnord from $205.00 to $208.00 and gave the company an “outperform” rating in a research report on Wednesday, May 8th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Regal Rexnord has a consensus rating of “Moderate Buy” and a consensus price target of $188.00.

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.