Regal Rexnord Co. (NYSE:RRX) Shares Purchased by Russell Investments Group Ltd.

Russell Investments Group Ltd. increased its stake in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) by 17.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 21,618 shares of the company's stock after purchasing an additional 3,146 shares during the quarter. Russell Investments Group Ltd.'s holdings in Regal Rexnord were worth $3,354,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. HighTower Advisors LLC lifted its stake in Regal Rexnord by 7.3% in the third quarter. HighTower Advisors LLC now owns 2,451 shares of the company's stock worth $403,000 after purchasing an additional 167 shares during the last quarter. M&T Bank Corp raised its holdings in shares of Regal Rexnord by 6.7% in the third quarter. M&T Bank Corp now owns 3,274 shares of the company's stock worth $542,000 after buying an additional 206 shares during the period. Tidal Investments LLC boosted its holdings in Regal Rexnord by 4.8% during the 3rd quarter. Tidal Investments LLC now owns 7,605 shares of the company's stock valued at $1,262,000 after acquiring an additional 347 shares during the period. Franklin Resources Inc. grew its position in Regal Rexnord by 7.2% in the 3rd quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company's stock valued at $204,254,000 after acquiring an additional 77,215 shares during the last quarter. Finally, American Trust increased its stake in Regal Rexnord by 11.5% in the third quarter. American Trust now owns 1,797 shares of the company's stock worth $298,000 after purchasing an additional 185 shares during the period. Hedge funds and other institutional investors own 99.72% of the company's stock.

Regal Rexnord Stock Up 4.1 %

Shares of NYSE:RRX traded up $4.02 on Tuesday, reaching $101.29. The company had a trading volume of 617,315 shares, compared to its average volume of 531,853. 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 firm has a market capitalization of $6.71 billion, a PE ratio of 34.34, a PEG ratio of 1.37 and a beta of 1.09. Regal Rexnord Co. has a 52-week low of $90.56 and a 52-week high of $185.28. The firm's 50 day simple moving average is $116.59 and its 200-day simple moving average is $147.53.

Regal Rexnord (NYSE:RRX - Get Free Report) last announced its earnings results on Wednesday, February 5th. The company reported $2.34 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, analysts expect that Regal Rexnord Co. will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 14th. Shareholders of record on Monday, March 31st were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.38%. The ex-dividend date was Monday, March 31st. Regal Rexnord's dividend payout ratio is currently 47.46%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RRX. KeyCorp lowered their target price on shares of Regal Rexnord from $180.00 to $125.00 and set an "overweight" rating for the company 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 on the stock in a research note on Friday, February 7th. Citigroup decreased their price target on shares of Regal Rexnord from $170.00 to $110.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Barclays dropped their price objective on Regal Rexnord from $160.00 to $155.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 26th. Finally, StockNews.com lowered Regal Rexnord from a "buy" rating to a "hold" rating in a research report on Wednesday, April 16th. Two equities research 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, Regal Rexnord currently has an average rating of "Moderate Buy" and an average target price of $170.75.

About Regal Rexnord

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.