Regal Rexnord Co. (NYSE:RRX) Shares Bought by Xponance Inc.

Xponance Inc. increased its holdings in Regal Rexnord Co. (NYSE:RRX) by 7.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,746 shares of the company’s stock after purchasing an additional 570 shares during the period. Xponance Inc.’s holdings in Regal Rexnord were worth $1,202,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its stake in Regal Rexnord by 6.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 436,307 shares of the company’s stock worth $72,375,000 after buying an additional 28,278 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Regal Rexnord by 0.9% in the third quarter. Geode Capital Management LLC now owns 1,104,090 shares of the company’s stock worth $183,195,000 after acquiring an additional 9,338 shares during the last quarter. First Hawaiian Bank purchased a new stake in Regal Rexnord in the fourth quarter valued at approximately $811,000. PNC Financial Services Group Inc. increased its position in Regal Rexnord by 29.2% during the third quarter. PNC Financial Services Group Inc. now owns 12,311 shares of the company’s stock worth $2,042,000 after purchasing an additional 2,783 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in Regal Rexnord by 7.2% during the third quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company’s stock worth $204,254,000 after purchasing an additional 77,215 shares during the period. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on RRX. StockNews.com cut shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 16th. Oppenheimer dropped their price target on Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Jefferies Financial Group assumed coverage on Regal Rexnord in a report on Thursday, December 12th. They issued a “buy” rating and a $215.00 price objective on the stock. Barclays decreased their target price on Regal Rexnord from $176.00 to $160.00 and set an “overweight” rating for the company in a report on Monday, March 10th. Finally, Citigroup cut their price target on shares of 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 assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $195.75.

Regal Rexnord Stock Down 2.2 %

NYSE RRX opened at $120.82 on Monday. The stock has a market cap of $8.01 billion, a PE ratio of 40.96, a P/E/G ratio of 1.37 and a beta of 1.11. The business has a 50 day moving average price of $139.44 and a two-hundred day moving average price of $156.61. Regal Rexnord Co. has a fifty-two week low of $113.73 and a fifty-two week 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.

Regal Rexnord (NYSE:RRX) last announced its earnings results on Wednesday, February 5th. The company reported $2.34 earnings per share 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%. As a group, sell-side analysts predict that Regal Rexnord Co. will post 9.95 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 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 1.16%. The ex-dividend date is Monday, March 31st. Regal Rexnord’s payout ratio is 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.