Allspring Global Investments Holdings LLC Has $78.64 Million Stock Holdings in Regal Rexnord Co. (NYSE:RRX)

Allspring Global Investments Holdings LLC raised its position in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) by 2.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 474,090 shares of the company's stock after buying an additional 12,338 shares during the period. Allspring Global Investments Holdings LLC owned about 0.71% of Regal Rexnord worth $78,642,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of RRX. Headlands Technologies LLC acquired a new stake in Regal Rexnord during the 2nd quarter valued at $46,000. 1620 Investment Advisors Inc. bought a new position in shares of Regal Rexnord in the second quarter valued at about $52,000. UMB Bank n.a. lifted its position in Regal Rexnord by 72.5% during the 3rd quarter. UMB Bank n.a. now owns 345 shares of the company's stock worth $57,000 after buying an additional 145 shares in the last quarter. EntryPoint Capital LLC acquired a new position in Regal Rexnord during the 1st quarter worth about $68,000. Finally, Riverview Trust Co bought a new stake in Regal Rexnord during the 1st quarter worth about $75,000. Institutional investors own 99.72% of the company's stock.

Analyst Ratings Changes

RRX has been the subject of a number of research analyst reports. Loop Capital reaffirmed a "buy" rating and issued a $200.00 target price on shares of Regal Rexnord in a research note on Thursday, September 19th. Citigroup began coverage on Regal Rexnord in a report on Monday, October 14th. They set a "buy" rating and a $200.00 price objective on the stock. StockNews.com upgraded Regal Rexnord from a "hold" rating to a "buy" rating in a research report on Wednesday, October 16th. KeyCorp dropped their target price 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. Finally, Raymond James assumed coverage on Regal Rexnord in a report on Friday, June 28th. They issued a "market perform" rating on the stock. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Regal Rexnord presently has an average rating of "Moderate Buy" and an average price target of $193.63.

Regal Rexnord Trading Down 2.3 %

Shares of Regal Rexnord stock traded down $4.12 during trading on Monday, reaching $172.96. 344,654 shares of the company were exchanged, compared to its average volume of 449,586. Regal Rexnord Co. has a twelve month low of $97.18 and a twelve month high of $183.85. The business has a 50-day moving average price of $163.40 and a 200-day moving average price of $155.90. The company has a quick ratio of 1.38, a current ratio of 2.45 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $11.51 billion, a price-to-earnings ratio of -360.33, a P/E/G ratio of 1.87 and a beta of 1.04.

Regal Rexnord (NYSE:RRX - Get Free Report) last announced its quarterly earnings results 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 positive return on equity of 9.16% and a negative net margin of 0.02%. The company had revenue of $1.55 billion during the quarter, compared to analysts' expectations of $1.51 billion. During the same period in the prior year, the business posted $2.56 EPS. Regal Rexnord's revenue was down 12.5% on a year-over-year basis. Sell-side analysts anticipate that Regal Rexnord Co. will post 9.48 EPS for the current fiscal year.

Regal Rexnord 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.