Envestnet Asset Management Inc. Buys 7,275 Shares of Regal Rexnord Co. (NYSE:RRX)

Envestnet Asset Management Inc. grew its holdings in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) by 10.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 74,169 shares of the company's stock after purchasing an additional 7,275 shares during the quarter. Envestnet Asset Management Inc. owned about 0.11% of Regal Rexnord worth $11,506,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Bank Julius Baer & Co. Ltd Zurich raised its holdings in Regal Rexnord by 7.4% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,111 shares of the company's stock valued at $190,000 after buying an additional 77 shares in the last quarter. Moors & Cabot Inc. raised its stake in shares of Regal Rexnord by 4.1% in the 4th quarter. Moors & Cabot Inc. now owns 2,139 shares of the company's stock valued at $332,000 after acquiring an additional 85 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in Regal Rexnord by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 2,061 shares of the company's stock worth $320,000 after purchasing an additional 101 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in Regal Rexnord by 45.3% during the fourth 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. Finally, Skandinaviska Enskilda Banken AB publ grew its holdings in Regal Rexnord by 472.4% during the fourth 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. Institutional investors and hedge funds own 99.72% of the company's stock.

Regal Rexnord Stock Performance

Shares of RRX stock traded up $5.56 during mid-day trading on Wednesday, reaching $106.76. The stock had a trading volume of 128,518 shares, compared to its average volume of 715,945. The firm has a market cap of $7.07 billion, a PE ratio of 36.19, a P/E/G ratio of 1.37 and a beta of 1.09. The company has a quick ratio of 1.25, a current ratio of 2.26 and a debt-to-equity ratio of 0.87. Regal Rexnord Co. has a one year low of $90.56 and a one year high of $185.28. The firm's 50 day simple moving average is $116.59 and its 200 day simple moving average is $147.53.

Regal Rexnord (NYSE:RRX - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $2.34 earnings per share for the quarter, missing analysts' consensus estimates 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, 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 was paid on Monday, April 14th. Investors of record on Monday, March 31st were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend was Monday, March 31st. Regal Rexnord's dividend payout ratio (DPR) is presently 47.46%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on RRX. Oppenheimer reduced their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating for the company in a research note on Friday, February 7th. StockNews.com cut shares of Regal Rexnord from a "buy" rating to a "hold" rating in a report on Wednesday, April 16th. Citigroup lowered their price target on Regal Rexnord from $170.00 to $110.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. The Goldman Sachs Group decreased their target price on Regal Rexnord from $183.00 to $163.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Finally, KeyCorp lowered their target price on Regal Rexnord from $180.00 to $125.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $170.75.

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.