Zurcher Kantonalbank Zurich Cantonalbank Raises Stake in Regal Rexnord Co. (NYSE:RRX)

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) by 16.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,844 shares of the company's stock after purchasing an additional 2,414 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Regal Rexnord were worth $2,613,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in RRX. Atria Investments Inc purchased a new stake in shares of Regal Rexnord during the third quarter valued at $257,000. GSA Capital Partners LLP bought a new stake in shares of Regal Rexnord in the third quarter valued at about $229,000. Oppenheimer Asset Management Inc. raised its holdings in shares of Regal Rexnord by 21.2% in the third quarter. Oppenheimer Asset Management Inc. now owns 1,934 shares of the company's stock valued at $321,000 after acquiring an additional 338 shares in the last quarter. KBC Group NV raised its holdings in shares of Regal Rexnord by 12.3% in the third quarter. KBC Group NV now owns 1,795 shares of the company's stock valued at $298,000 after acquiring an additional 197 shares in the last quarter. Finally, OneDigital Investment Advisors LLC bought a new stake in shares of Regal Rexnord in the third quarter valued at about $209,000. 99.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on RRX. Jefferies Financial Group began coverage on Regal Rexnord in a report on Thursday, December 12th. They issued a "buy" rating and a $215.00 price objective for the company. Citigroup decreased their price objective on Regal Rexnord from $210.00 to $190.00 and set a "buy" rating for the company in a report on Tuesday, January 14th. Oppenheimer decreased their price objective on Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating for the company in a report on Friday, February 7th. Barclays reduced their target price on shares of Regal Rexnord from $176.00 to $160.00 and set an "overweight" rating for the company in a report on Monday, March 10th. Finally, The Goldman Sachs Group boosted their target price on shares of Regal Rexnord from $191.00 to $213.00 and gave the stock a "buy" rating in a report on Thursday, December 12th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $195.75.

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Regal Rexnord Stock Up 0.3 %

Shares of RRX stock traded up $0.40 during trading hours on Thursday, reaching $123.71. 927,047 shares of the company's stock were exchanged, compared to its average volume of 479,872. Regal Rexnord Co. has a 1 year low of $113.73 and a 1 year high of $185.28. The stock has a market cap of $8.20 billion, a PE ratio of 41.94, a PEG ratio of 1.37 and a beta of 1.11. The company has a current ratio of 2.26, a quick ratio of 1.25 and a debt-to-equity ratio of 0.87. The stock's fifty day moving average price is $140.64 and its two-hundred day moving average price is $157.13.

Regal Rexnord (NYSE:RRX - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $2.34 earnings per share for the quarter, missing analysts' consensus estimates of $2.56 by ($0.22). Regal Rexnord had a return on equity of 9.57% and a net margin of 3.25%. Research analysts predict that Regal Rexnord Co. will post 9.95 EPS for the current year.

Regal Rexnord Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be given a $0.35 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.40 dividend on an annualized basis and a yield of 1.13%. Regal Rexnord's dividend payout ratio is currently 47.46%.

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.