Cramer Rosenthal Mcglynn LLC Raises Stock Position in Regal Rexnord Co. (NYSE:RRX)

Cramer Rosenthal Mcglynn LLC boosted its stake in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) by 11.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 246,493 shares of the company's stock after purchasing an additional 25,642 shares during the quarter. Regal Rexnord accounts for approximately 2.2% of Cramer Rosenthal Mcglynn LLC's holdings, making the stock its 6th biggest position. Cramer Rosenthal Mcglynn LLC owned 0.37% of Regal Rexnord worth $38,238,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its stake in shares of Regal Rexnord by 6.9% in the third quarter. JPMorgan Chase & Co. now owns 436,307 shares of the company's stock valued at $72,375,000 after buying an additional 28,278 shares during the period. First Hawaiian Bank bought a new stake in shares of Regal Rexnord in the 4th quarter worth approximately $811,000. Franklin Resources Inc. grew its holdings in shares of Regal Rexnord by 7.2% during the 3rd quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company's stock worth $204,254,000 after purchasing an additional 77,215 shares in the last quarter. Atria Investments Inc increased its position in shares of Regal Rexnord by 48.9% during the fourth quarter. Atria Investments Inc now owns 2,310 shares of the company's stock valued at $358,000 after purchasing an additional 759 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Regal Rexnord by 16.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,844 shares of the company's stock worth $2,613,000 after purchasing an additional 2,414 shares during the period. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RRX. KeyCorp dropped their price objective on shares of Regal Rexnord from $180.00 to $125.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. The Goldman Sachs Group cut their price target on shares of Regal Rexnord from $183.00 to $163.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. StockNews.com lowered Regal Rexnord from a "buy" rating to a "hold" rating in a research note on Wednesday, April 16th. Oppenheimer cut their target price on Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating for the company in a research report on Friday, February 7th. Finally, Barclays dropped their price objective on Regal Rexnord from $160.00 to $155.00 and set an "overweight" rating for the company in a research note 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. According to MarketBeat, Regal Rexnord currently has a consensus rating of "Moderate Buy" and a consensus target price of $170.75.

Regal Rexnord Price Performance

Shares of NYSE:RRX traded up $2.86 during midday trading on Wednesday, reaching $104.06. The company's stock had a trading volume of 265,226 shares, compared to its average volume of 530,925. The business's fifty day simple moving average is $116.59 and its 200-day simple moving average is $147.53. 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 fifty-two week low of $90.56 and a fifty-two week high of $185.28. The company has a market capitalization of $6.90 billion, a P/E ratio of 35.27, a P/E/G ratio of 1.37 and a beta of 1.09.

Regal Rexnord (NYSE:RRX - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $2.34 earnings per share for the quarter, missing the consensus estimate of $2.56 by ($0.22). Regal Rexnord had a net margin of 3.25% and a return on equity of 9.57%. As a group, equities 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 disclosed a quarterly dividend, which was paid on Monday, April 14th. Shareholders of record on Monday, March 31st were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend was Monday, March 31st. Regal Rexnord's dividend payout ratio is 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.