Vontobel Holding Ltd. Has $50.69 Million Holdings in Regal Rexnord Co. (NYSE:RRX)

Vontobel Holding Ltd. grew its holdings in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) by 17.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 305,562 shares of the company's stock after buying an additional 44,683 shares during the period. Vontobel Holding Ltd. owned 0.46% of Regal Rexnord worth $50,687,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in RRX. Victory Capital Management Inc. raised its stake in shares of Regal Rexnord by 42.7% in the 2nd quarter. Victory Capital Management Inc. now owns 1,884,575 shares of the company's stock worth $254,832,000 after buying an additional 563,853 shares in the last quarter. Capital World Investors lifted its holdings in Regal Rexnord by 4.7% in the 1st quarter. Capital World Investors now owns 6,599,752 shares of the company's stock valued at $1,188,615,000 after acquiring an additional 296,941 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Regal Rexnord by 24.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,125,445 shares of the company's stock valued at $152,183,000 after purchasing an additional 222,775 shares in the last quarter. Diamond Hill Capital Management Inc. grew its stake in shares of Regal Rexnord by 7.1% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 3,181,886 shares of the company's stock worth $430,255,000 after purchasing an additional 209,776 shares during the last quarter. Finally, TimesSquare Capital Management LLC raised its holdings in shares of Regal Rexnord by 64.4% in the 1st quarter. TimesSquare Capital Management LLC now owns 466,475 shares of the company's stock worth $84,012,000 after purchasing an additional 182,770 shares in the last quarter. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Citigroup began coverage on shares of Regal Rexnord in a research report on Monday. They issued a "buy" rating and a $200.00 price target on the stock. Robert W. Baird boosted their target price on Regal Rexnord from $208.00 to $213.00 and gave the stock an "outperform" rating in a research report on Friday, August 2nd. Raymond James assumed coverage on Regal Rexnord in a research report on Friday, June 28th. They issued a "market perform" rating for the company. KeyCorp cut their price objective on Regal Rexnord from $210.00 to $190.00 and set an "overweight" rating on the stock in a report on Monday, July 15th. Finally, Loop Capital reiterated a "buy" rating and issued a $200.00 target price on shares of Regal Rexnord in a report on Thursday, September 19th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Regal Rexnord has a consensus rating of "Moderate Buy" and an average target price of $193.63.

Regal Rexnord Stock Up 2.0 %

RRX traded up $3.50 on Wednesday, reaching $177.76. 553,945 shares of the company traded hands, compared to its average volume of 450,726. Regal Rexnord Co. has a 52-week low of $97.18 and a 52-week high of $183.85. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.45 and a quick ratio of 1.38. The company has a market cap of $11.82 billion, a price-to-earnings ratio of -367.50, a PEG ratio of 1.76 and a beta of 1.04. The stock's 50 day moving average price is $161.49 and its 200-day moving average price is $155.85.

Regal Rexnord (NYSE:RRX - Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $2.29 earnings per share for the quarter, topping analysts' consensus estimates of $2.14 by $0.15. The business had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.51 billion. Regal Rexnord had a negative net margin of 0.02% and a positive return on equity of 9.16%. Regal Rexnord's revenue for the quarter was down 12.5% compared to the same quarter last year. During the same period in the prior year, the business posted $2.56 earnings per share. On average, sell-side analysts expect that Regal Rexnord Co. will post 9.48 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $1.40 annualized dividend and a dividend yield of 0.79%. Regal Rexnord's dividend payout ratio is -291.67%.

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.