Clearbridge Investments LLC Has $95.83 Million Stake in Regal Rexnord Co. (NYSE:RRX)

Clearbridge Investments LLC lifted its position in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) by 10.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 617,762 shares of the company's stock after purchasing an additional 56,590 shares during the quarter. Clearbridge Investments LLC owned 0.93% of Regal Rexnord worth $95,833,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cerity Partners LLC raised its position in shares of Regal Rexnord by 11.7% during the third quarter. Cerity Partners LLC now owns 2,632 shares of the company's stock worth $436,000 after purchasing an additional 276 shares during the period. Townsquare Capital LLC bought a new stake in Regal Rexnord during the 3rd quarter worth approximately $267,000. PEAK6 Investments LLC acquired a new stake in Regal Rexnord during the 3rd quarter worth approximately $1,557,000. Erste Asset Management GmbH bought a new position in Regal Rexnord in the third quarter valued at approximately $6,253,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Regal Rexnord in the third quarter valued at approximately $255,000. Institutional investors and hedge funds own 99.72% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. The Goldman Sachs Group dropped their price objective on shares of Regal Rexnord from $183.00 to $163.00 and set a "buy" rating on the stock in a report on Wednesday. StockNews.com downgraded Regal Rexnord from a "buy" rating to a "hold" rating in a research note on Monday. Jefferies Financial Group began coverage on Regal Rexnord in a research report on Thursday, December 12th. They set a "buy" rating and a $215.00 price objective for the company. Oppenheimer dropped their target price on Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating on the stock in a research report on Friday, February 7th. Finally, Barclays reduced their price target on Regal Rexnord from $160.00 to $155.00 and set an "overweight" rating for the company in a research report on Wednesday, March 26th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, Regal Rexnord currently has an average rating of "Moderate Buy" and a consensus target price of $188.88.

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Regal Rexnord Stock Performance

Regal Rexnord stock traded down $18.67 during mid-day trading on Thursday, hitting $102.84. 1,718,407 shares of the company's stock traded hands, compared to its average volume of 499,238. Regal Rexnord Co. has a fifty-two week low of $102.50 and a fifty-two week high of $185.28. The stock has a market cap of $6.82 billion, a price-to-earnings ratio of 34.86, a P/E/G ratio of 1.37 and a beta of 1.11. The firm has a 50 day simple moving average of $133.45 and a two-hundred day simple moving average of $154.90. 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 (NYSE:RRX - Get Free Report) last announced its earnings results on Wednesday, February 5th. The company reported $2.34 EPS for the quarter, missing the consensus estimate of $2.56 by ($0.22). Regal Rexnord had a return on equity of 9.57% and a net margin of 3.25%. On average, research analysts expect that Regal Rexnord Co. will post 9.95 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend is Monday, March 31st. Regal Rexnord's dividend payout ratio is currently 47.46%.

Regal Rexnord Company 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.