Cove Street Capital LLC cut its stake in shares of Regal Rexnord Co. (NYSE:RRX – Get Rating) by 14.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,967 shares of the company's stock after selling 3,038 shares during the quarter. Cove Street Capital LLC's holdings in Regal Rexnord were worth $2,522,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Baird Financial Group Inc. boosted its stake in shares of Regal Rexnord by 1.2% during the 2nd quarter. Baird Financial Group Inc. now owns 7,269 shares of the company's stock worth $825,000 after purchasing an additional 85 shares during the last quarter. CWM LLC lifted its holdings in Regal Rexnord by 63.0% in the second quarter. CWM LLC now owns 225 shares of the company's stock worth $26,000 after purchasing an additional 87 shares during the period. Quadrant Capital Group LLC raised its position in Regal Rexnord by 15.4% in the second quarter. Quadrant Capital Group LLC now owns 742 shares of the company's stock worth $84,000 after acquiring an additional 99 shares in the last quarter. Riverview Trust Co increased its holdings in shares of Regal Rexnord by 26.3% in the 2nd quarter. Riverview Trust Co now owns 523 shares of the company's stock valued at $59,000 after purchasing an additional 109 shares during the period. Finally, Ronald Blue Trust Inc. grew its stake in shares of Regal Rexnord by 3.7% in the 3rd quarter. Ronald Blue Trust Inc. now owns 3,325 shares of the company's stock valued at $378,000 after buying an additional 119 shares in the last quarter. 99.98% of the stock is owned by institutional investors and hedge funds.
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Regal Rexnord Trading Down 0.1 %
NYSE RRX traded down $0.18 during trading on Monday, hitting $137.93. 82,782 shares of the company's stock traded hands, compared to its average volume of 487,015. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.89 and a quick ratio of 1.60. The stock has a fifty day moving average of $126.23 and a two-hundred day moving average of $133.59. The firm has a market cap of $9.12 billion, a P/E ratio of 24.23, a PEG ratio of 1.28 and a beta of 1.08. Regal Rexnord Co. has a 12-month low of $108.28 and a 12-month high of $166.40.
Regal Rexnord (NYSE:RRX – Get Rating) last issued its quarterly earnings results on Monday, October 31st. The company reported $2.66 earnings per share for the quarter, hitting the consensus estimate of $2.66. The business had revenue of $1.33 billion for the quarter, compared to analysts' expectations of $1.32 billion. Regal Rexnord had a net
margin of 7.37% and a return on equity of 10.91%. As a group, sell-side analysts expect that Regal Rexnord Co. will post 10.41 EPS for the current year.
Regal Rexnord Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 14th. Stockholders of record on Friday, March 31st will be given a $0.35 dividend. The ex-dividend date of this dividend is Thursday, March 30th. This represents a $1.40 annualized dividend and a dividend yield of 1.02%. Regal Rexnord's payout ratio is presently 24.56%.
Analysts Set New Price Targets
A number of research analysts recently commented on RRX shares. Robert W. Baird cut their target price on Regal Rexnord from $174.00 to $167.00 in a research note on Wednesday, November 2nd. StockNews.com initiated coverage on Regal Rexnord in a research report on Wednesday, October 12th. They set a "buy" rating on the stock. Oppenheimer decreased their price target on Regal Rexnord to $180.00 in a research note on Wednesday, December 14th. Finally, Wolfe Research downgraded Regal Rexnord from an "outperform" rating to a "peer perform" rating in a research note on Thursday, December 1st. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, Regal Rexnord currently has a consensus rating of "Moderate Buy" and a consensus price target of $172.60.
About Regal Rexnord
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Regal Rexnord Corporation, together with its subsidiaries, designs, manufactures, and sells industrial powertrain solutions, power transmission components, electric motors and electronic controls, air moving products, and specialty electrical components and systems worldwide. It operates through four segments: Commercial Systems, Industrial Systems, Climate Solutions, and Motion Control Solutions.
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