Vontobel Holding Ltd. Grows Stock Position in Regal Rexnord Co. (NYSE:RRX)

Vontobel Holding Ltd. lifted its stake in shares of Regal Rexnord Co. (NYSE:RRX) by 17.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 305,562 shares of the company’s stock after purchasing an additional 44,683 shares during the quarter. Vontobel Holding Ltd. owned about 0.46% of Regal Rexnord worth $50,687,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of RRX. Creative Planning grew its holdings in Regal Rexnord by 11.6% in the third quarter. Creative Planning now owns 3,131 shares of the company’s stock valued at $519,000 after purchasing an additional 326 shares during the last quarter. Ritholtz Wealth Management acquired a new stake in Regal Rexnord in the third quarter valued at $271,000. UMB Bank n.a. grew its holdings in Regal Rexnord by 72.5% in the third quarter. UMB Bank n.a. now owns 345 shares of the company’s stock valued at $57,000 after purchasing an additional 145 shares during the last quarter. GAMMA Investing LLC grew its holdings in Regal Rexnord by 30.0% in the third quarter. GAMMA Investing LLC now owns 841 shares of the company’s stock valued at $140,000 after purchasing an additional 194 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its holdings in Regal Rexnord by 21.9% in the third quarter. Handelsbanken Fonder AB now owns 15,614 shares of the company’s stock valued at $2,590,000 after purchasing an additional 2,800 shares during the last quarter. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on RRX. StockNews.com raised Regal Rexnord from a “hold” rating to a “buy” rating in a report on Wednesday. Robert W. Baird increased their price objective on Regal Rexnord from $208.00 to $213.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Citigroup began coverage on Regal Rexnord in a research note on Monday. They set a “buy” rating and a $200.00 price objective on the stock. KeyCorp decreased their price objective on Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Finally, Raymond James began coverage on Regal Rexnord in a research note on Friday, June 28th. They set a “market perform” rating on the stock. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $193.63.

Regal Rexnord Trading Up 1.5 %

NYSE RRX traded up $2.66 during trading hours on Wednesday, hitting $176.92. 120,608 shares of the company’s stock were exchanged, compared to its average volume of 448,559. The business’s 50 day moving average is $161.49 and its 200-day moving average is $155.85. Regal Rexnord Co. has a 12-month low of $97.18 and a 12-month high of $183.85. The firm has a market capitalization of $11.77 billion, a P/E ratio of -367.50, a price-to-earnings-growth ratio of 1.76 and a beta of 1.04. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.38 and a current ratio of 2.45.

Regal Rexnord (NYSE:RRX) last released its earnings results on Wednesday, July 31st. The company reported $2.29 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.15. Regal Rexnord had a positive return on equity of 9.16% and a negative net margin of 0.02%. The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same period in the prior year, the business posted $2.56 earnings per share. The firm’s revenue for the quarter was down 12.5% compared to the same quarter last year. As a group, analysts anticipate that Regal Rexnord Co. will post 9.48 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were issued a $0.35 dividend. The ex-dividend date was Friday, September 27th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.79%. Regal Rexnord’s dividend payout ratio (DPR) is -291.67%.

Regal Rexnord Company 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.