Regal Rexnord Co. (NYSE:RRX) is TimesSquare Capital Management LLC's 9th Largest Position

TimesSquare Capital Management LLC lifted its position in Regal Rexnord Co. (NYSE:RRX - Free Report) by 0.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 651,586 shares of the company's stock after acquiring an additional 5,331 shares during the period. Regal Rexnord comprises approximately 1.6% of TimesSquare Capital Management LLC's holdings, making the stock its 9th largest position. TimesSquare Capital Management LLC owned approximately 0.98% of Regal Rexnord worth $108,085,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Headlands Technologies LLC acquired a new stake in shares of Regal Rexnord during the second quarter worth approximately $46,000. 1620 Investment Advisors Inc. acquired a new stake in shares of Regal Rexnord in the 2nd quarter valued at $52,000. UMB Bank n.a. boosted its stake in shares of Regal Rexnord by 72.5% in the 3rd quarter. UMB Bank n.a. now owns 345 shares of the company's stock valued at $57,000 after purchasing an additional 145 shares in the last quarter. EntryPoint Capital LLC acquired a new position in Regal Rexnord during the 1st quarter worth about $68,000. Finally, GAMMA Investing LLC boosted its stake in shares of Regal Rexnord by 13.9% in the 2nd quarter. GAMMA Investing LLC now owns 647 shares of the company's stock valued at $87,000 after purchasing an additional 79 shares during the last quarter. 99.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. The Goldman Sachs Group raised their target price on shares of Regal Rexnord from $176.00 to $195.00 and gave the stock a "buy" rating in a report on Friday, August 2nd. Citigroup assumed coverage on shares of Regal Rexnord in a report on Monday, October 14th. They set a "buy" rating and a $200.00 target price on the stock. StockNews.com upgraded shares of Regal Rexnord from a "hold" rating to a "buy" rating in a report on Wednesday, October 16th. KeyCorp dropped their target price on shares of 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 price objective on shares of Regal Rexnord in a report on Thursday, September 19th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $193.00.

Regal Rexnord Price Performance

NYSE RRX traded down $3.86 during trading on Friday, hitting $175.06. 379,157 shares of the company's stock were exchanged, compared to its average volume of 476,301. The stock's 50 day moving average price is $166.02 and its two-hundred day moving average price is $156.48. Regal Rexnord Co. has a fifty-two week low of $105.11 and a fifty-two week high of $185.28. The company has a market cap of $11.59 billion, a PE ratio of 55.22, a P/E/G ratio of 1.90 and a beta of 1.04. The company has a current ratio of 2.45, a quick ratio of 1.38 and a debt-to-equity ratio of 0.87.

Regal Rexnord (NYSE:RRX - Get Free Report) last posted its quarterly 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. The firm had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.53 billion. Regal Rexnord had a return on equity of 9.48% and a net margin of 3.41%. The company's revenue for the quarter was down 10.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.10 EPS. Research analysts expect that Regal Rexnord Co. will post 9.2 EPS for the current year.

Regal Rexnord Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date is Tuesday, December 31st. Regal Rexnord's payout ratio is 44.16%.

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.