FIL Ltd Increases Stock Position in Regal Rexnord Co. (NYSE:RRX)

FIL Ltd boosted its holdings in Regal Rexnord Co. (NYSE:RRX - Free Report) by 12.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 368,115 shares of the company's stock after buying an additional 39,598 shares during the quarter. FIL Ltd owned approximately 0.56% of Regal Rexnord worth $57,106,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Skandinaviska Enskilda Banken AB publ boosted its stake in Regal Rexnord by 472.4% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company's stock valued at $25,000 after acquiring an additional 137 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in shares of Regal Rexnord in the 4th quarter valued at about $33,000. Tobam acquired a new stake in shares of Regal Rexnord in the 4th quarter valued at about $45,000. Jones Financial Companies Lllp grew its stake in Regal Rexnord by 90.5% during the 4th quarter. Jones Financial Companies Lllp now owns 322 shares of the company's stock worth $50,000 after buying an additional 153 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased 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 buying an additional 105 shares during the period. 99.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on RRX shares. KeyCorp lowered their target price on shares of Regal Rexnord from $180.00 to $125.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. StockNews.com raised shares of Regal Rexnord from a "hold" rating to a "buy" rating in a report on Tuesday, April 8th. Barclays dropped their price target on Regal Rexnord from $160.00 to $155.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 26th. Oppenheimer lowered their target price on Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating on the stock in a research note on Friday, February 7th. Finally, Citigroup cut their price target on Regal Rexnord from $170.00 to $110.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $170.75.

Regal Rexnord Price Performance

NYSE:RRX traded down $0.76 during trading hours on Tuesday, hitting $99.71. The company's stock had a trading volume of 162,543 shares, compared to its average volume of 716,351. The company has a market capitalization of $6.61 billion, a PE ratio of 33.80, a PEG ratio of 1.37 and a beta of 1.09. Regal Rexnord Co. has a 52-week low of $90.56 and a 52-week high of $185.28. The business's 50-day moving average is $121.34 and its two-hundred day moving average is $150.21. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.25 and a current ratio of 2.26.

Regal Rexnord (NYSE:RRX - Get Free Report) last released its quarterly earnings data 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 return on equity of 9.57% and a net margin of 3.25%. As a group, research analysts anticipate that Regal Rexnord Co. will post 9.95 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

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

About Regal Rexnord

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.