Virtu Financial LLC Increases Stock Position in Regal Rexnord Co. (NYSE:RRX)

Virtu Financial LLC raised its stake in Regal Rexnord Co. (NYSE:RRX) by 17.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,021 shares of the company’s stock after acquiring an additional 458 shares during the period. Virtu Financial LLC’s holdings in Regal Rexnord were worth $544,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Rise Advisors LLC acquired a new stake in Regal Rexnord during the 1st quarter worth $33,000. GAMMA Investing LLC purchased a new position in shares of Regal Rexnord during the fourth quarter worth about $58,000. EntryPoint Capital LLC acquired a new position in Regal Rexnord in the 1st quarter valued at about $68,000. Riverview Trust Co purchased a new stake in Regal Rexnord during the 1st quarter valued at approximately $75,000. Finally, Benjamin F. Edwards & Company Inc. acquired a new stake in Regal Rexnord during the 4th quarter worth approximately $100,000. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Regal Rexnord Trading Down 7.4 %

Regal Rexnord stock traded down $12.00 during trading on Friday, reaching $150.96. The company had a trading volume of 874,946 shares, compared to its average volume of 460,087. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.56 and a current ratio of 2.62. The firm has a market capitalization of $10.04 billion, a price-to-earnings ratio of -314.90, a PEG ratio of 1.65 and a beta of 1.06. Regal Rexnord Co. has a 12-month low of $97.18 and a 12-month high of $183.85. The stock’s 50 day moving average price is $144.37 and its two-hundred day moving average price is $155.05.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.15. The firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.51 billion. Regal Rexnord had a positive return on equity of 9.19% and a negative net margin of 0.02%. The firm’s quarterly revenue was down 12.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.56 earnings per share. As a group, equities analysts expect that Regal Rexnord Co. will post 9.73 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be paid a $0.35 dividend. The ex-dividend date is Friday, September 27th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.93%. Regal Rexnord’s dividend payout ratio (DPR) is currently -291.67%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on RRX. KeyCorp reduced their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Raymond James initiated coverage on Regal Rexnord in a research note on Friday, June 28th. They issued a “market perform” rating on the stock. StockNews.com cut Regal Rexnord from a “buy” rating to a “hold” rating in a research report on Thursday, July 4th. The Goldman Sachs Group raised their target price on Regal Rexnord from $176.00 to $195.00 and gave the company a “buy” rating in a report on Friday. Finally, Robert W. Baird upped their price target on shares of Regal Rexnord from $208.00 to $213.00 and gave the stock an “outperform” rating in a research note on Friday. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $189.83.

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.