Westhampton Capital LLC Trims Stock Holdings in Regal Rexnord Co. (NYSE:RRX)

Westhampton Capital LLC lowered its position in Regal Rexnord Co. (NYSE:RRX) by 1.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 12,055 shares of the company’s stock after selling 200 shares during the period. Westhampton Capital LLC’s holdings in Regal Rexnord were worth $2,000,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in RRX. Headlands Technologies LLC purchased a new stake in Regal Rexnord in the 2nd quarter worth about $46,000. 1620 Investment Advisors Inc. purchased a new stake in shares of Regal Rexnord during the second quarter worth about $52,000. UMB Bank n.a. increased its position in shares of Regal Rexnord by 72.5% in the 3rd quarter. UMB Bank n.a. now owns 345 shares of the company’s stock valued at $57,000 after acquiring an additional 145 shares during the period. EntryPoint Capital LLC purchased a new position in shares of Regal Rexnord in the first quarter worth about $68,000. Finally, GAMMA Investing LLC lifted its stake in Regal Rexnord by 13.9% during the 2nd quarter. GAMMA Investing LLC now owns 647 shares of the company’s stock valued at $87,000 after acquiring an additional 79 shares during the period. 99.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RRX has been the topic of several recent research reports. The Goldman Sachs Group upped their price objective on Regal Rexnord from $176.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Barclays boosted their price target on Regal Rexnord from $180.00 to $190.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Loop Capital reiterated a “buy” rating and issued a $200.00 price objective on shares of Regal Rexnord in a report on Thursday, September 19th. Robert W. Baird lifted their price target on Regal Rexnord from $208.00 to $213.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, KeyCorp lowered their price objective on Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $193.63.

Regal Rexnord Stock Performance

Regal Rexnord stock opened at $169.78 on Wednesday. The stock has a fifty day moving average of $163.70 and a two-hundred day moving average of $155.88. Regal Rexnord Co. has a fifty-two week low of $97.18 and a fifty-two week high of $183.85. The company has a market capitalization of $11.29 billion, a price-to-earnings ratio of -353.71, a PEG ratio of 1.87 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 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. 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 during the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the previous year, the business earned $2.56 earnings per share. The firm’s quarterly revenue was down 12.5% compared to the same quarter last year. On average, analysts anticipate that Regal Rexnord Co. will post 9.48 EPS for the current fiscal year.

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.