Regal Rexnord Co. (NYSE:RRX) Shares Acquired by Swiss National Bank

Swiss National Bank lifted its holdings in shares of Regal Rexnord Co. (NYSE:RRX) by 0.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 130,817 shares of the company’s stock after acquiring an additional 900 shares during the quarter. Swiss National Bank’s holdings in Regal Rexnord were worth $20,294,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RRX. Point72 Asset Management L.P. purchased a new stake in Regal Rexnord during the 3rd quarter worth $83,460,000. Westfield Capital Management Co. LP increased its stake in Regal Rexnord by 68.9% during the 3rd quarter. Westfield Capital Management Co. LP now owns 979,521 shares of the company’s stock worth $162,483,000 after buying an additional 399,649 shares during the period. Victory Capital Management Inc. increased its stake in Regal Rexnord by 20.1% during the 4th quarter. Victory Capital Management Inc. now owns 2,176,963 shares of the company’s stock worth $337,712,000 after buying an additional 363,728 shares during the period. TimesSquare Capital Management LLC increased its stake in Regal Rexnord by 35.7% during the 4th quarter. TimesSquare Capital Management LLC now owns 884,095 shares of the company’s stock worth $137,150,000 after buying an additional 232,509 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of Regal Rexnord in the 4th quarter worth about $22,325,000. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Regal Rexnord Price Performance

Shares of NYSE:RRX opened at $118.70 on Wednesday. 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 firm has a 50-day simple moving average of $141.27 and a 200 day simple moving average of $157.37. The company has a market cap of $7.87 billion, a PE ratio of 40.24, a P/E/G ratio of 1.37 and a beta of 1.11. Regal Rexnord Co. has a fifty-two week low of $113.73 and a fifty-two week high of $185.28.

Regal Rexnord (NYSE:RRX) last posted its earnings results on Wednesday, February 5th. The company reported $2.34 earnings per share (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, sell-side analysts anticipate 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. Shareholders of record on Monday, March 31st will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date is Monday, March 31st. Regal Rexnord’s payout ratio is 47.46%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Citigroup dropped their target price on shares of Regal Rexnord from $210.00 to $190.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. StockNews.com downgraded shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 16th. Oppenheimer dropped their target price on shares of Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Jefferies Financial Group assumed coverage on shares of Regal Rexnord in a research report on Thursday, December 12th. They issued a “buy” rating and a $215.00 target price for the company. Finally, Barclays dropped their target price on shares of Regal Rexnord from $176.00 to $160.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $195.75.

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.