FIL Ltd Boosts Stake in Regal Rexnord Co. (NYSE:RRX)

FIL Ltd increased its stake in Regal Rexnord Co. (NYSE:RRX) by 12.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 368,115 shares of the company’s stock after acquiring an additional 39,598 shares during the period. FIL Ltd owned about 0.56% of Regal Rexnord worth $57,106,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in RRX. Skandinaviska Enskilda Banken AB publ increased its position in shares of Regal Rexnord by 472.4% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company’s stock valued at $25,000 after purchasing an additional 137 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new position in shares of Regal Rexnord during the fourth quarter worth approximately $33,000. Tobam bought a new stake in shares of Regal Rexnord in the 4th quarter worth approximately $45,000. Jones Financial Companies Lllp boosted its stake in shares of Regal Rexnord by 90.5% in the 4th quarter. Jones Financial Companies Lllp now owns 322 shares of the company’s stock valued at $50,000 after purchasing an additional 153 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its position in Regal Rexnord by 45.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 337 shares of the company’s stock worth $52,000 after purchasing an additional 105 shares during the period. Institutional investors own 99.72% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RRX. Citigroup reduced their price objective on Regal Rexnord from $170.00 to $110.00 and set a “buy” rating on the stock in a research note on Tuesday. StockNews.com raised Regal Rexnord from a “hold” rating to a “buy” rating in a research note on Tuesday. KeyCorp cut their target price on shares of Regal Rexnord from $180.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday. The Goldman Sachs Group lowered their price target on shares of Regal Rexnord from $183.00 to $163.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Finally, Jefferies Financial Group began coverage on shares of Regal Rexnord in a report on Thursday, December 12th. They issued a “buy” rating and a $215.00 price target on the stock. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $170.75.

Regal Rexnord Price Performance

RRX stock opened at $107.09 on Thursday. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.26 and a quick ratio of 1.25. Regal Rexnord Co. has a 1 year low of $90.56 and a 1 year high of $185.28. The firm has a 50-day moving average of $124.65 and a 200 day moving average of $151.76. The company has a market cap of $7.10 billion, a P/E ratio of 36.30, a PEG ratio of 1.37 and a beta of 1.09.

Regal Rexnord (NYSE:RRX) last released its earnings results on Wednesday, February 5th. The company reported $2.34 EPS for the quarter, missing analysts’ consensus estimates of $2.56 by ($0.22). Regal Rexnord had a net margin of 3.25% and a return on equity of 9.57%. On average, sell-side analysts forecast that Regal Rexnord Co. will post 9.95 EPS for the current year.

Regal Rexnord Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.40 dividend on an annualized basis and a yield of 1.31%. Regal Rexnord’s dividend payout ratio (DPR) is currently 47.46%.

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.