Hudson Edge Investment Partners Inc. Acquires 417 Shares of Regal Rexnord Co. (NYSE:RRX)

Hudson Edge Investment Partners Inc. grew its holdings in Regal Rexnord Co. (NYSE:RRX) by 22.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,285 shares of the company’s stock after purchasing an additional 417 shares during the period. Hudson Edge Investment Partners Inc.’s holdings in Regal Rexnord were worth $309,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Arizona State Retirement System grew its position in Regal Rexnord by 2.1% in the second quarter. Arizona State Retirement System now owns 18,616 shares of the company’s stock valued at $2,517,000 after acquiring an additional 382 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Regal Rexnord by 42.7% during the 2nd quarter. Victory Capital Management Inc. now owns 1,884,575 shares of the company’s stock valued at $254,832,000 after purchasing an additional 563,853 shares during the last quarter. National Bank of Canada FI increased its position in Regal Rexnord by 4.0% during the 2nd quarter. National Bank of Canada FI now owns 11,206 shares of the company’s stock worth $1,476,000 after purchasing an additional 431 shares in the last quarter. Roubaix Capital LLC lifted its stake in Regal Rexnord by 2.5% in the 2nd quarter. Roubaix Capital LLC now owns 25,324 shares of the company’s stock valued at $3,424,000 after purchasing an additional 625 shares during the last quarter. Finally, Auxano Advisors LLC boosted its position in Regal Rexnord by 28.9% in the second quarter. Auxano Advisors LLC now owns 7,803 shares of the company’s stock valued at $1,055,000 after buying an additional 1,748 shares in the last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.

Regal Rexnord Trading Down 2.0 %

Shares of Regal Rexnord stock traded down $2.98 during midday trading on Friday, reaching $149.00. The company had a trading volume of 487,396 shares, compared to its average volume of 344,418. The firm has a market cap of $9.91 billion, a PE ratio of -310.42, a P/E/G ratio of 1.58 and a beta of 1.04. The stock has a fifty day moving average price of $152.18 and a 200 day moving average price of $157.66. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.45 and a quick ratio of 1.38. 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 posted its quarterly earnings data on Wednesday, July 31st. The company reported $2.29 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.51 billion. During the same period in the prior year, the firm posted $2.56 EPS. The company’s quarterly revenue was down 12.5% on a year-over-year basis. On average, equities analysts anticipate that Regal Rexnord Co. will post 9.53 earnings per share for the current year.

Regal Rexnord Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend is Friday, September 27th. Regal Rexnord’s dividend payout ratio (DPR) is presently -291.67%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. KeyCorp dropped their price target on Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. The Goldman Sachs Group lifted their price target on Regal Rexnord from $176.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. StockNews.com upgraded Regal Rexnord from a “hold” rating to a “buy” rating in a report on Monday, August 5th. Barclays dropped their price objective on shares of Regal Rexnord from $181.00 to $180.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Finally, Raymond James started coverage on shares of Regal Rexnord in a report on Friday, June 28th. They set a “market perform” rating on the stock. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average 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.