Channing Capital Management LLC Has $10.61 Million Stock Holdings in Regal Rexnord Co. (NYSE:RRX)

Channing Capital Management LLC grew its stake in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) by 27.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 68,422 shares of the company's stock after buying an additional 14,641 shares during the period. Channing Capital Management LLC owned 0.10% of Regal Rexnord worth $10,614,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Victory Capital Management Inc. boosted its position in 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 last quarter. State Street Corp grew its holdings in Regal Rexnord by 1.3% in the third quarter. State Street Corp now owns 1,972,866 shares of the company's stock valued at $327,944,000 after purchasing an additional 24,860 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Regal Rexnord by 6.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,289,917 shares of the company's stock worth $213,971,000 after purchasing an additional 83,823 shares during the period. Franklin Resources Inc. raised its holdings in Regal Rexnord by 7.2% in the third quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company's stock valued at $204,254,000 after buying an additional 77,215 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in Regal Rexnord by 1.1% during the third quarter. The Manufacturers Life Insurance Company now owns 1,137,746 shares of the company's stock worth $188,729,000 after buying an additional 12,301 shares during the period. 99.72% of the stock is currently owned by hedge funds and other institutional investors.

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Regal Rexnord Price Performance

NYSE RRX traded up $0.91 during trading hours on Wednesday, reaching $119.42. 270,456 shares of the company's stock were exchanged, compared to its average volume of 470,864. 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 fifty day moving average of $145.17 and a 200-day moving average of $159.07. Regal Rexnord Co. has a one year low of $113.73 and a one year high of $185.28. The stock has a market cap of $7.91 billion, a PE ratio of 40.35, a price-to-earnings-growth ratio of 1.37 and a beta of 1.11.

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

Regal Rexnord Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Monday, March 31st. Regal Rexnord's payout ratio is currently 47.46%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on RRX shares. Jefferies Financial Group began coverage on Regal Rexnord in a research note on Thursday, December 12th. They issued a "buy" rating and a $215.00 target price for the company. StockNews.com lowered shares of Regal Rexnord from a "strong-buy" rating to a "buy" rating in a research note on Thursday, January 16th. Oppenheimer lowered their price objective on Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating for the company in a report on Friday, February 7th. Citigroup cut their price target on Regal Rexnord from $210.00 to $190.00 and set a "buy" rating on the stock in a report on Tuesday, January 14th. Finally, Barclays reduced their price target on shares of Regal Rexnord from $176.00 to $160.00 and set an "overweight" rating for the company in a report on Monday. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, Regal Rexnord has a consensus rating of "Moderate Buy" and a consensus target price of $195.75.

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.