MetLife Investment Management LLC Boosts Holdings in Regal Rexnord Co. (NYSE:RRX)

MetLife Investment Management LLC lifted its position in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) by 8.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,336 shares of the company's stock after buying an additional 2,947 shares during the period. MetLife Investment Management LLC owned approximately 0.06% of Regal Rexnord worth $5,792,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in RRX. Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Regal Rexnord by 472.4% in 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. Bernard Wealth Management Corp. acquired a new stake in shares of Regal Rexnord in the fourth quarter valued at $30,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Regal Rexnord in the 4th quarter valued at $33,000. Tobam purchased a new position in Regal Rexnord during the 4th quarter valued at about $45,000. Finally, Jones Financial Companies Lllp grew its position in Regal Rexnord by 90.5% in the 4th quarter. Jones Financial Companies Lllp now owns 322 shares of the company's stock valued at $50,000 after acquiring an additional 153 shares in the last quarter. Hedge funds and other institutional investors own 99.72% of the company's stock.

Regal Rexnord Stock Performance

RRX traded up $0.75 on Friday, reaching $107.09. The company had a trading volume of 616,492 shares, compared to its average volume of 535,910. The stock has a 50-day moving average price of $114.69 and a 200-day moving average price of $146.25. The stock has a market capitalization of $7.10 billion, a PE ratio of 36.30, a P/E/G ratio of 1.37 and a beta of 1.09. Regal Rexnord Co. has a 1 year low of $90.56 and a 1 year high of $185.28. 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 released its quarterly earnings results on Wednesday, February 5th. The company reported $2.34 earnings per share (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 forecast that Regal Rexnord Co. will post 9.95 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 14th. Shareholders of record on Monday, March 31st were paid a $0.35 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.40 dividend on an annualized basis and a yield of 1.31%. Regal Rexnord's dividend payout ratio is presently 47.46%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on RRX shares. Oppenheimer dropped their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating for the company in a report on Friday, February 7th. StockNews.com cut Regal Rexnord from a "buy" rating to a "hold" rating in a research note on Wednesday, April 16th. 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. KeyCorp reduced their target price on shares of Regal Rexnord from $180.00 to $125.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, Barclays dropped their price objective on shares of Regal Rexnord from $160.00 to $155.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 26th. Two 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 Company 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.