Regal Rexnord Co. (NYSE:RRX) is TimesSquare Capital Management LLC's 3rd Largest Position

TimesSquare Capital Management LLC raised its position in Regal Rexnord Co. (NYSE:RRX - Free Report) by 35.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 884,095 shares of the company's stock after acquiring an additional 232,509 shares during the period. Regal Rexnord makes up about 2.0% of TimesSquare Capital Management LLC's holdings, making the stock its 3rd largest position. TimesSquare Capital Management LLC owned 1.33% of Regal Rexnord worth $137,150,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in RRX. Tobam purchased a new position in shares of Regal Rexnord during the fourth quarter valued at approximately $45,000. Nomura Asset Management Co. Ltd. boosted its position in shares of Regal Rexnord by 30.3% during the third quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company's stock valued at $71,000 after buying an additional 100 shares during the last quarter. 1620 Investment Advisors Inc. boosted its position in shares of Regal Rexnord by 17.4% during the third quarter. 1620 Investment Advisors Inc. now owns 452 shares of the company's stock valued at $75,000 after buying an additional 67 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Regal Rexnord by 28.3% during the fourth quarter. GAMMA Investing LLC now owns 1,079 shares of the company's stock valued at $167,000 after buying an additional 238 shares during the last quarter. Finally, Weatherly Asset Management L. P. purchased a new position in shares of Regal Rexnord during the third quarter valued at approximately $180,000. Institutional investors and hedge funds own 99.72% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on RRX shares. The Goldman Sachs Group lifted their target price on Regal Rexnord from $191.00 to $213.00 and gave the company a "buy" rating in a research report on Thursday, December 12th. Oppenheimer cut their target price on Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating on the stock in a research report on Friday, February 7th. Jefferies Financial Group began coverage on Regal Rexnord in a report on Thursday, December 12th. They set a "buy" rating and a $215.00 price target on the stock. Barclays dropped their price target on Regal Rexnord from $190.00 to $176.00 and set an "overweight" rating on the stock in a report on Friday, February 14th. Finally, Citigroup dropped 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. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $197.75.

Regal Rexnord Stock Performance

Shares of RRX traded down $1.55 during mid-day trading on Friday, hitting $134.50. The stock had a trading volume of 1,022,841 shares, compared to its average volume of 601,786. The firm has a market cap of $8.91 billion, a P/E ratio of 45.59, a PEG ratio of 1.37 and a beta of 1.03. The business has a fifty day moving average price of $152.87 and a 200-day moving average price of $161.58. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.26 and a quick ratio of 1.25. Regal Rexnord Co. has a 52 week low of $130.94 and a 52 week high of $185.28.

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

Regal Rexnord Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.40 annualized dividend and a dividend yield of 1.04%. Regal Rexnord's payout ratio is presently 47.46%.

Regal Rexnord Company 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.