Invesco Ltd. Boosts Holdings in Regal Rexnord Co. (NYSE:RRX)

Invesco Ltd. raised its holdings in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) by 5.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 528,984 shares of the company's stock after buying an additional 25,504 shares during the quarter. Invesco Ltd. owned about 0.80% of Regal Rexnord worth $82,061,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Norges Bank purchased a new stake in Regal Rexnord in the fourth quarter valued at approximately $235,188,000. Victory Capital Management Inc. grew its position in Regal Rexnord by 20.1% in the fourth quarter. Victory Capital Management Inc. now owns 2,176,963 shares of the company's stock worth $337,712,000 after acquiring an additional 363,728 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Regal Rexnord by 56.8% in the fourth quarter. JPMorgan Chase & Co. now owns 683,980 shares of the company's stock valued at $106,106,000 after acquiring an additional 247,673 shares during the last quarter. TimesSquare Capital Management LLC lifted its stake in Regal Rexnord by 35.7% during the fourth quarter. TimesSquare Capital Management LLC now owns 884,095 shares of the company's stock worth $137,150,000 after purchasing an additional 232,509 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Regal Rexnord in the 4th quarter worth about $22,325,000. Hedge funds and other institutional investors own 99.72% of the company's stock.

Regal Rexnord Trading Up 1.8 %

Shares of NYSE:RRX traded up $1.74 on Friday, hitting $98.38. The company had a trading volume of 839,476 shares, compared to its average volume of 531,653. Regal Rexnord Co. has a 1 year low of $90.56 and a 1 year high of $185.28. The firm has a market capitalization of $6.52 billion, a price-to-earnings ratio of 33.35, a P/E/G ratio of 1.37 and a beta of 1.09. The firm's 50-day simple moving average is $118.86 and its two-hundred day simple moving average is $149.02. 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 (NYSE:RRX - Get Free Report) last announced its earnings results on Wednesday, February 5th. The company reported $2.34 earnings per share (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%. Equities analysts anticipate that Regal Rexnord Co. will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 14th. Stockholders of record on Monday, March 31st were issued a dividend of $0.35 per share. The ex-dividend date was Monday, March 31st. This represents a $1.40 annualized dividend and a dividend yield of 1.42%. Regal Rexnord's payout ratio is 47.46%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on RRX. StockNews.com lowered Regal Rexnord from a "buy" rating to a "hold" rating in a research note on Wednesday. Barclays reduced their target price on shares of Regal Rexnord from $160.00 to $155.00 and set an "overweight" rating on the stock in a report on Wednesday, March 26th. KeyCorp cut their price target on shares of Regal Rexnord from $180.00 to $125.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. The Goldman Sachs Group lowered 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, Citigroup reduced 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. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, Regal Rexnord presently has an average rating of "Moderate Buy" and an average price target 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.