Wells Fargo & Company MN Raises Stake in Regal Rexnord Co. (NYSE:RRX)

Wells Fargo & Company MN increased its position in Regal Rexnord Co. (NYSE:RRX - Free Report) by 28.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 107,994 shares of the company's stock after acquiring an additional 24,146 shares during the period. Wells Fargo & Company MN owned about 0.16% of Regal Rexnord worth $16,753,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. O Shaughnessy Asset Management LLC grew its position in shares of Regal Rexnord by 6.6% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 5,265 shares of the company's stock valued at $817,000 after acquiring an additional 328 shares during the period. Clearbridge Investments LLC lifted its position in shares of Regal Rexnord by 10.1% during the 4th quarter. Clearbridge Investments LLC now owns 617,762 shares of the company's stock valued at $95,833,000 after buying an additional 56,590 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Regal Rexnord during the 4th quarter valued at approximately $747,000. Brown Brothers Harriman & Co. increased its holdings in Regal Rexnord by 6.4% in the 4th quarter. Brown Brothers Harriman & Co. now owns 2,485 shares of the company's stock worth $385,000 after acquiring an additional 150 shares in the last quarter. Finally, Pictet Asset Management Holding SA raised its stake in Regal Rexnord by 13.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 9,323 shares of the company's stock worth $1,446,000 after acquiring an additional 1,104 shares during the period. Hedge funds and other institutional investors own 99.72% of the company's stock.

Regal Rexnord Price Performance

Regal Rexnord stock traded up $1.74 during mid-day trading on Friday, reaching $98.38. 839,476 shares of the company's stock traded hands, compared to its average volume of 531,653. Regal Rexnord Co. has a 12-month low of $90.56 and a 12-month high of $185.28. The company has a quick ratio of 1.25, a current ratio of 2.26 and a debt-to-equity ratio of 0.87. The stock has a 50 day moving average of $118.86 and a two-hundred day moving average of $149.02. The company has a market cap of $6.52 billion, a price-to-earnings ratio of 33.35, a PEG ratio of 1.37 and a beta of 1.09.

Regal Rexnord (NYSE:RRX - Get Free Report) last released 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 return on equity of 9.57% and a net margin of 3.25%. Equities analysts forecast that Regal Rexnord Co. will post 9.95 earnings per share for the current year.

Regal Rexnord Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 14th. Stockholders of record on Monday, March 31st were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.42%. Regal Rexnord's dividend payout ratio is 47.46%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Citigroup reduced their price objective on shares of Regal Rexnord from $170.00 to $110.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. StockNews.com downgraded Regal Rexnord from a "buy" rating to a "hold" rating in a research report on Wednesday. Oppenheimer cut their target price on Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating for the company in a research report on Friday, February 7th. KeyCorp lowered their price target on Regal Rexnord from $180.00 to $125.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, Barclays cut their price objective on shares of Regal Rexnord from $160.00 to $155.00 and set an "overweight" rating for the company in a report on Wednesday, March 26th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $170.75.

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.