LPL Financial LLC Purchases 3,982 Shares of Regal Rexnord Co. (NYSE:RRX)

LPL Financial LLC increased its stake in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) by 14.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 32,007 shares of the company's stock after acquiring an additional 3,982 shares during the period. LPL Financial LLC's holdings in Regal Rexnord were worth $4,965,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Victory Capital Management Inc. boosted its holdings in shares of Regal Rexnord by 20.1% during 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 during the period. TimesSquare Capital Management LLC boosted its stake in Regal Rexnord by 35.7% in the 4th quarter. TimesSquare Capital Management LLC now owns 884,095 shares of the company's stock valued at $137,150,000 after purchasing an additional 232,509 shares during the period. Raymond James Financial Inc. acquired a new position in Regal Rexnord in the 4th quarter valued at $22,325,000. Franklin Resources Inc. increased its position in 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 buying an additional 77,215 shares during the period. Finally, Jennison Associates LLC lifted its holdings in shares of Regal Rexnord by 33.9% during the fourth quarter. Jennison Associates LLC now owns 175,702 shares of the company's stock worth $27,257,000 after buying an additional 44,447 shares in the last quarter. 99.72% of the stock is owned by institutional investors and hedge funds.

Regal Rexnord Stock Performance

Shares of Regal Rexnord stock traded up $2.40 on Friday, reaching $99.08. 1,542,639 shares of the company traded hands, compared to its average volume of 525,056. The company has a 50 day moving average of $122.43 and a 200 day moving average of $150.68. 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 52 week low of $90.56 and a 52 week high of $185.28. The firm has a market capitalization of $6.57 billion, a PE ratio of 33.59, a PEG ratio of 1.37 and a beta of 1.09.

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 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%. Equities analysts forecast that Regal Rexnord Co. will post 9.95 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.40 annualized dividend and a yield of 1.41%. Regal Rexnord's payout ratio is 47.46%.

Analyst Upgrades and Downgrades

RRX has been the topic of a number of analyst reports. The Goldman Sachs Group reduced their price target on Regal Rexnord from $183.00 to $163.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. StockNews.com upgraded shares of Regal Rexnord from a "hold" rating to a "buy" rating in a research note on Tuesday, April 8th. Oppenheimer dropped their target price on shares of Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating for the company in a research report on Friday, February 7th. Citigroup reduced their price target on shares of Regal Rexnord from $170.00 to $110.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Finally, Barclays lowered their price objective on shares of Regal Rexnord from $160.00 to $155.00 and set an "overweight" rating for the company in a research report on Wednesday, March 26th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus 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.