Daiwa Securities Group Inc. Invests $822,000 in Regal Rexnord Co. (NYSE:RRX)

Daiwa Securities Group Inc. acquired a new position in Regal Rexnord Co. (NYSE:RRX) during the fourth quarter, Holdings Channel.com reports. The firm acquired 5,300 shares of the company’s stock, valued at approximately $822,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Regal Rexnord by 16.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,844 shares of the company’s stock worth $2,613,000 after acquiring an additional 2,414 shares during the period. Bank Julius Baer & Co. Ltd Zurich increased its stake in shares of Regal Rexnord by 7.4% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,111 shares of the company’s stock worth $190,000 after acquiring an additional 77 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in shares of Regal Rexnord in the fourth quarter worth $901,000. Candriam S.C.A. acquired a new stake in shares of Regal Rexnord in the fourth quarter worth $3,538,000. Finally, Vestmark Advisory Solutions Inc. increased its stake in shares of Regal Rexnord by 41.0% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 2,906 shares of the company’s stock worth $451,000 after acquiring an additional 845 shares during the period. Institutional investors and hedge funds own 99.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. The Goldman Sachs Group increased their price target 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. Citigroup lowered 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. Barclays lowered their price target on shares of Regal Rexnord from $176.00 to $160.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. Oppenheimer lowered their price target on shares of Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Finally, Jefferies Financial Group began coverage on shares of Regal Rexnord in a report on Thursday, December 12th. They set a “buy” rating and a $215.00 price target on the stock. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Regal Rexnord presently has a consensus rating of “Moderate Buy” and an average price target of $195.75.

Regal Rexnord Stock Performance

RRX opened at $116.44 on Friday. 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 company has a market cap of $7.72 billion, a price-to-earnings ratio of 39.47, a PEG ratio of 1.37 and a beta of 1.11. Regal Rexnord Co. has a 52-week low of $113.73 and a 52-week high of $185.28. The firm’s fifty day simple moving average is $142.83 and its two-hundred day simple moving average is $158.08.

Regal Rexnord (NYSE:RRX) last issued its 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%. Equities analysts anticipate that Regal Rexnord Co. will post 9.95 earnings per share 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 $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date is Monday, March 31st. Regal Rexnord’s dividend payout ratio (DPR) is 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.