JPMorgan Chase & Co. Has $106.11 Million Position in Regal Rexnord Co. (NYSE:RRX)

JPMorgan Chase & Co. increased its position in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) by 56.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 683,980 shares of the company's stock after buying an additional 247,673 shares during the period. JPMorgan Chase & Co. owned 1.03% of Regal Rexnord worth $106,106,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of RRX. Skandinaviska Enskilda Banken AB publ lifted its position in Regal Rexnord by 472.4% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company's stock worth $25,000 after acquiring an additional 137 shares during the last quarter. Tobam acquired a new position in shares of Regal Rexnord during the 4th quarter worth about $45,000. Jones Financial Companies Lllp boosted 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 valued at $50,000 after purchasing an additional 153 shares during the period. Smartleaf Asset Management LLC grew its holdings in Regal Rexnord by 45.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 337 shares of the company's stock valued at $52,000 after buying an additional 105 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its position in Regal Rexnord by 30.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company's stock worth $71,000 after buying an additional 100 shares during the period. 99.72% of the stock is owned by institutional investors.

Regal Rexnord Price Performance

NYSE:RRX traded down $3.94 during mid-day trading on Friday, hitting $98.77. The company's stock had a trading volume of 1,534,768 shares, compared to its average volume of 504,749. The company has a current ratio of 2.26, a quick ratio of 1.25 and a debt-to-equity ratio of 0.87. The stock has a fifty day moving average of $132.16 and a 200-day moving average of $154.54. The company has a market capitalization of $6.55 billion, a price-to-earnings ratio of 33.48, a P/E/G ratio of 1.37 and a beta of 1.11. Regal Rexnord Co. has a fifty-two week low of $92.71 and a fifty-two week high of $185.28.

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Regal Rexnord (NYSE:RRX - Get Free Report) last posted 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%. As a group, equities analysts forecast 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. Investors of record on Monday, March 31st will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend is Monday, March 31st. Regal Rexnord's dividend payout ratio (DPR) is currently 47.46%.

Analysts Set New Price Targets

RRX has been the subject of several research reports. StockNews.com cut Regal Rexnord from a "buy" rating to a "hold" rating in a research report on Monday. The Goldman Sachs Group reduced their price target on shares of Regal Rexnord from $183.00 to $163.00 and set a "buy" rating for the company in a report on Wednesday. Citigroup dropped their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set a "buy" rating on the stock in a report on Tuesday, January 14th. Jefferies Financial Group started coverage on shares of Regal Rexnord in a research note on Thursday, December 12th. They issued a "buy" rating and a $215.00 target price for the company. Finally, Oppenheimer lowered their price target 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. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, Regal Rexnord has a consensus rating of "Moderate Buy" and an average target price of $188.88.

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.