Victory Capital Management Inc. Buys 363,728 Shares of Regal Rexnord Co. (NYSE:RRX)

Victory Capital Management Inc. increased its stake in Regal Rexnord Co. (NYSE:RRX - Free Report) by 20.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,176,963 shares of the company's stock after purchasing an additional 363,728 shares during the quarter. Victory Capital Management Inc. owned approximately 3.29% of Regal Rexnord worth $337,712,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Tobam bought a new position in Regal Rexnord in the 4th quarter worth $45,000. Jones Financial Companies Lllp increased its stake in Regal Rexnord by 90.5% in the 4th quarter. Jones Financial Companies Lllp now owns 322 shares of the company's stock worth $50,000 after buying an additional 153 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in Regal Rexnord by 45.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 337 shares of the company's stock worth $52,000 after buying an additional 105 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its stake in Regal Rexnord by 30.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company's stock worth $71,000 after buying an additional 100 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC increased its stake in Regal Rexnord by 335.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 622 shares of the company's stock worth $97,000 after buying an additional 479 shares in the last quarter. 99.72% of the stock is owned by institutional investors.

Regal Rexnord Trading Down 0.9 %

Shares of NYSE:RRX traded down $1.12 during trading on Friday, reaching $122.47. The company's stock had a trading volume of 487,551 shares, compared to its average volume of 616,472. The company has a current ratio of 2.26, a quick ratio of 1.25 and a debt-to-equity ratio of 0.87. Regal Rexnord Co. has a 12 month low of $117.18 and a 12 month high of $185.28. The firm's 50 day simple moving average is $146.62 and its two-hundred day simple moving average is $159.71. The stock has a market capitalization of $8.12 billion, a PE ratio of 41.52, a price-to-earnings-growth ratio of 1.37 and a beta of 1.11.

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Regal Rexnord (NYSE:RRX - Get Free Report) last announced its quarterly 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 net margin of 3.25% and a return on equity of 9.57%. On average, research analysts predict that Regal Rexnord Co. will post 9.95 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend is Monday, March 31st. Regal Rexnord's payout ratio is 47.46%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Barclays cut their price target on Regal Rexnord from $190.00 to $176.00 and set an "overweight" rating for the company in a research note on Friday, February 14th. StockNews.com lowered Regal Rexnord from a "strong-buy" rating to a "buy" rating in a research note on Thursday, January 16th. Citigroup cut their price target on Regal Rexnord from $210.00 to $190.00 and set a "buy" rating for the company in a research note on Tuesday, January 14th. The Goldman Sachs Group raised their price objective on Regal Rexnord from $191.00 to $213.00 and gave the company a "buy" rating in a research report on Thursday, December 12th. Finally, Jefferies Financial Group assumed coverage on Regal Rexnord in a research report on Thursday, December 12th. They set a "buy" rating and a $215.00 price objective for the company. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, Regal Rexnord currently has an average rating of "Moderate Buy" and an average target price of $197.75.

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.