Pallas Capital Advisors LLC Acquires 6,006 Shares of Regal Rexnord Co. (NYSE:RRX)

Pallas Capital Advisors LLC raised its holdings in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) by 43.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,826 shares of the company's stock after acquiring an additional 6,006 shares during the quarter. Pallas Capital Advisors LLC's holdings in Regal Rexnord were worth $3,332,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Headlands Technologies LLC purchased a new stake in shares of Regal Rexnord during the second quarter worth $46,000. 1620 Investment Advisors Inc. purchased a new stake in shares of Regal Rexnord during the 2nd quarter worth about $52,000. UMB Bank n.a. lifted its holdings in shares of Regal Rexnord by 72.5% during the 3rd quarter. UMB Bank n.a. now owns 345 shares of the company's stock valued at $57,000 after buying an additional 145 shares during the last quarter. EntryPoint Capital LLC bought a new stake in shares of Regal Rexnord in the 1st quarter valued at approximately $68,000. Finally, GAMMA Investing LLC increased its holdings in Regal Rexnord by 13.9% in the second quarter. GAMMA Investing LLC now owns 647 shares of the company's stock worth $87,000 after buying an additional 79 shares during the last quarter. Institutional investors and hedge funds own 99.72% of the company's stock.

Regal Rexnord Stock Performance

RRX stock traded down $1.44 during mid-day trading on Tuesday, reaching $169.42. 394,557 shares of the stock traded hands, compared to its average volume of 446,675. 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 business has a 50-day moving average of $164.56 and a two-hundred day moving average of $155.85. The firm has a market capitalization of $11.27 billion, a PE ratio of -8,456.50, a P/E/G ratio of 1.76 and a beta of 1.04. Regal Rexnord Co. has a 52 week low of $97.18 and a 52 week high of $183.85.

Regal Rexnord (NYSE:RRX - Get Free Report) last announced its earnings results on Wednesday, July 31st. The company reported $2.29 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the prior year, the company earned $2.56 EPS. The firm's revenue for the quarter was down 12.5% compared to the same quarter last year. As a group, equities analysts predict that Regal Rexnord Co. will post 9.48 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.83%. The ex-dividend date is Tuesday, December 31st. Regal Rexnord's payout ratio is currently -7,000.00%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Robert W. Baird lifted their target price on shares of Regal Rexnord from $208.00 to $213.00 and gave the company an "outperform" rating in a research note on Friday, August 2nd. The Goldman Sachs Group lifted their price objective on shares of Regal Rexnord from $176.00 to $195.00 and gave the company a "buy" rating in a research note on Friday, August 2nd. Loop Capital reissued a "buy" rating and set a $200.00 target price on shares of Regal Rexnord in a research report on Thursday, September 19th. KeyCorp reduced their price target 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, Citigroup initiated coverage on Regal Rexnord in a research note on Monday, October 14th. They set a "buy" rating and a $200.00 price target for the company. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $193.63.

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.