Regal Rexnord Co. (NYSE:RRX) Position Lifted by Xponance Inc.

Xponance Inc. raised its stake in Regal Rexnord Co. (NYSE:RRX) by 7.9% in the 4th quarter, according to its most recent filing with the SEC. The fund 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 modified their holdings of the company. JPMorgan Chase & Co. increased its holdings in Regal Rexnord by 6.9% in the third quarter. JPMorgan Chase & Co. now owns 436,307 shares of the company’s stock valued at $72,375,000 after buying an additional 28,278 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Regal Rexnord by 0.9% in the 3rd 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 in the last quarter. First Hawaiian Bank bought a new stake in shares of Regal Rexnord in the 4th quarter valued at approximately $811,000. PNC Financial Services Group Inc. increased its holdings in shares of Regal Rexnord by 29.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 12,311 shares of the company’s stock valued at $2,042,000 after acquiring an additional 2,783 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in shares of Regal Rexnord by 7.2% during the 3rd quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company’s stock valued at $204,254,000 after acquiring an additional 77,215 shares in the last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.

Regal Rexnord Stock Performance

Shares of NYSE RRX opened at $120.82 on Monday. Regal Rexnord Co. has a 12-month low of $113.73 and a 12-month high of $185.28. The company 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 stock has a 50 day simple moving average of $139.44 and a 200-day simple moving average of $156.61. The company has a current ratio of 2.26, a quick ratio of 1.25 and a debt-to-equity ratio of 0.87.

Regal Rexnord (NYSE:RRX) last announced its quarterly 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 return on equity of 9.57% and a net margin of 3.25%. On average, equities research analysts forecast that Regal Rexnord Co. will post 9.95 EPS for the current year.

Regal Rexnord Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.16%. Regal Rexnord’s dividend payout ratio (DPR) is 47.46%.

Wall Street Analyst Weigh In

Several analysts have weighed in on RRX shares. StockNews.com lowered shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 16th. The Goldman Sachs Group boosted their price objective on shares of Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Citigroup cut their target price 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. Jefferies Financial Group assumed coverage on Regal Rexnord in a report on Thursday, December 12th. They set a “buy” rating and a $215.00 target price for the company. Finally, Barclays dropped their price target on Regal Rexnord from $176.00 to $160.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Regal Rexnord currently has an average rating of “Moderate Buy” and an average target price of $195.75.

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.