Hantz Financial Services Inc. Increases Stake in Regal Rexnord Co. (NYSE:RRX)

Hantz Financial Services Inc. boosted its holdings in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) by 4.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 104,273 shares of the company's stock after buying an additional 4,157 shares during the quarter. Hantz Financial Services Inc. owned about 0.16% of Regal Rexnord worth $16,176,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. State Street Corp grew its position in shares of 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 last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Regal Rexnord by 6.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,289,917 shares of the company's stock valued at $213,971,000 after purchasing an additional 83,823 shares during the last quarter. Franklin Resources Inc. grew its position in shares of 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 purchasing an additional 77,215 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Regal Rexnord by 1.1% in the third quarter. The Manufacturers Life Insurance Company now owns 1,137,746 shares of the company's stock valued at $188,729,000 after purchasing an additional 12,301 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Regal Rexnord by 0.9% in the third quarter. Geode Capital Management LLC now owns 1,104,090 shares of the company's stock valued at $183,195,000 after purchasing an additional 9,338 shares during the last quarter. 99.72% of the stock is owned by institutional investors and hedge funds.

Regal Rexnord Stock Performance

Shares of NYSE:RRX traded down $4.49 on Friday, reaching $158.56. 1,225,905 shares of the company's stock were exchanged, compared to its average volume of 388,681. The company has a fifty day moving average of $162.26 and a 200-day moving average of $162.96. Regal Rexnord Co. has a twelve month low of $130.94 and a twelve month high of $185.28. The company has a market capitalization of $10.50 billion, a price-to-earnings ratio of 50.02, a PEG ratio of 1.55 and a beta of 1.04. The company has a current ratio of 2.45, a quick ratio of 1.35 and a debt-to-equity ratio of 0.87.

Regal Rexnord (NYSE:RRX - Get Free Report) last announced its earnings results on Monday, November 4th. The company reported $2.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.48 by $0.01. Regal Rexnord had a net margin of 3.41% and a return on equity of 9.48%. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the prior year, the business posted $2.10 EPS. The business's revenue was down 10.4% compared to the same quarter last year. On average, research analysts predict that Regal Rexnord Co. will post 9.24 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend is Monday, March 31st. Regal Rexnord's payout ratio is presently 44.16%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on RRX. Barclays lowered their price target on Regal Rexnord from $205.00 to $190.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 8th. StockNews.com cut shares of Regal Rexnord from a "strong-buy" rating to a "buy" rating in a research note on Thursday, January 16th. The Goldman Sachs Group increased their target price on shares of Regal Rexnord from $191.00 to $213.00 and gave the company a "buy" rating in a research note on Thursday, December 12th. Citigroup reduced their target price on shares of Regal Rexnord from $210.00 to $190.00 and set a "buy" rating for the company in a research note on Tuesday, January 14th. Finally, Jefferies Financial Group started coverage on shares of Regal Rexnord in a research note on Thursday, December 12th. They issued a "buy" rating and a $215.00 target price for the company. One research 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.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $202.00.

Insider Transactions at Regal Rexnord

In other Regal Rexnord news, CEO Louis V. Pinkham sold 8,774 shares of the business's stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $180.03, for a total value of $1,579,583.22. Following the transaction, the chief executive officer now directly owns 149,618 shares in the company, valued at $26,935,728.54. The trade was a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.82% of the stock is currently owned by insiders.

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.