Regal Rexnord Co. (NYSE:RRX) Shares Bought by International Assets Investment Management LLC

International Assets Investment Management LLC boosted its holdings in Regal Rexnord Co. (NYSE:RRX - Free Report) by 87,585.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,138 shares of the company's stock after acquiring an additional 6,131 shares during the quarter. International Assets Investment Management LLC's holdings in Regal Rexnord were worth $1,018,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in RRX. Capital World Investors boosted its holdings in Regal Rexnord by 4.7% in the first quarter. Capital World Investors now owns 6,599,752 shares of the company's stock worth $1,188,615,000 after acquiring an additional 296,941 shares in the last quarter. Diamond Hill Capital Management Inc. grew its position in Regal Rexnord by 7.1% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 3,181,886 shares of the company's stock worth $430,255,000 after purchasing an additional 209,776 shares during the last quarter. Victory Capital Management Inc. increased its position in Regal Rexnord by 42.7% during the 2nd quarter. Victory Capital Management Inc. now owns 1,884,575 shares of the company's stock worth $254,832,000 after purchasing an additional 563,853 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Regal Rexnord by 0.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,422,350 shares of the company's stock worth $192,338,000 after buying an additional 8,159 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in Regal Rexnord by 24.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,125,445 shares of the company's stock worth $152,183,000 after acquiring an additional 222,775 shares during the period. 99.72% of the stock is currently owned by institutional investors.

Regal Rexnord Price Performance

Shares of NYSE RRX traded down $2.12 during mid-day trading on Tuesday, hitting $168.10. 994,370 shares of the company's stock traded hands, compared to its average volume of 449,270. Regal Rexnord Co. has a 1 year low of $100.00 and a 1 year high of $183.85. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.45 and a quick ratio of 1.38. The company has a market capitalization of $11.19 billion, a P/E ratio of -8,341.50, a PEG ratio of 1.78 and a beta of 1.04. The company's 50-day moving average is $165.20 and its two-hundred day moving average is $156.13.

Regal Rexnord (NYSE:RRX - Get Free Report) last announced its earnings results on Monday, November 4th. The company reported $2.49 EPS for the quarter, beating analysts' consensus estimates of $2.45 by $0.04. Regal Rexnord had a negative net margin of 0.02% and a positive return on equity of 9.16%. The business had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.53 billion. During the same period in the previous year, the company posted $2.10 EPS. The company's quarterly revenue was down 10.4% on a year-over-year basis. On average, equities analysts anticipate that Regal Rexnord Co. will post 9.48 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st will be given a $0.35 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.40 dividend on an annualized basis and a yield of 0.83%. Regal Rexnord's payout ratio is -7,000.00%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Robert W. Baird boosted their price target on shares of Regal Rexnord from $208.00 to $213.00 and gave the stock an "outperform" rating in a research report on Friday, August 2nd. Loop Capital reiterated a "buy" rating and set a $200.00 price objective on shares of Regal Rexnord in a report on Thursday, September 19th. Citigroup began coverage on shares of Regal Rexnord in a research report on Monday, October 14th. They set a "buy" rating and a $200.00 target price on the stock. 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. Finally, StockNews.com raised Regal Rexnord from a "hold" rating to a "buy" rating in a report on Wednesday, October 16th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average 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.