Tectonic Advisors LLC Boosts Stake in Regal Rexnord Co. (NYSE:RRX)

Tectonic Advisors LLC lifted its holdings in shares of Regal Rexnord Co. (NYSE:RRX) by 26.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,504 shares of the company’s stock after buying an additional 517 shares during the period. Tectonic Advisors LLC’s holdings in Regal Rexnord were worth $388,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Marshall Wace LLP purchased a new stake in shares of Regal Rexnord during the 2nd quarter valued at about $622,000. Creative Planning lifted its position in Regal Rexnord by 28.5% during the second quarter. Creative Planning now owns 2,805 shares of the company’s stock valued at $379,000 after purchasing an additional 622 shares during the period. Sanctuary Advisors LLC purchased a new stake in Regal Rexnord in the second quarter worth approximately $263,000. Handelsbanken Fonder AB grew its position in Regal Rexnord by 21.9% in the 3rd quarter. Handelsbanken Fonder AB now owns 15,614 shares of the company’s stock worth $2,590,000 after purchasing an additional 2,800 shares during the period. Finally, GAMMA Investing LLC raised its stake in Regal Rexnord by 30.0% during the 3rd quarter. GAMMA Investing LLC now owns 841 shares of the company’s stock valued at $140,000 after buying an additional 194 shares during the last quarter. 99.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on RRX shares. Citigroup dropped their price target on Regal Rexnord from $210.00 to $190.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. StockNews.com downgraded Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 16th. Robert W. Baird reduced their price target on shares of Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Jefferies Financial Group began coverage on shares of Regal Rexnord in a report on Thursday, December 12th. They issued a “buy” rating and a $215.00 price objective on the stock. Finally, Barclays reduced their target price on shares of Regal Rexnord from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $202.00.

Regal Rexnord Price Performance

NYSE RRX opened at $142.48 on Friday. The company has a current ratio of 2.45, a quick ratio of 1.35 and a debt-to-equity ratio of 0.87. Regal Rexnord Co. has a 12 month low of $130.94 and a 12 month high of $185.28. The stock has a market cap of $9.44 billion, a price-to-earnings ratio of 44.95, a PEG ratio of 1.53 and a beta of 1.03. The company’s 50 day moving average is $161.01 and its two-hundred day moving average is $163.04.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $2.34 EPS for the quarter, missing the consensus estimate of $2.56 by ($0.22). Regal Rexnord had a net margin of 3.41% and a return on equity of 9.48%. As a group, research analysts anticipate that Regal Rexnord Co. will post 9.24 earnings per share for the current year.

Regal Rexnord Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date is Monday, March 31st. Regal Rexnord’s dividend payout ratio (DPR) is 44.16%.

About Regal Rexnord

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.