American Century Companies Inc. Has $67.35 Million Stock Holdings in Regal Rexnord Co. (NYSE:RRX)

American Century Companies Inc. grew its holdings in shares of Regal Rexnord Co. (NYSE:RRX) by 3.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 434,130 shares of the company’s stock after buying an additional 13,908 shares during the quarter. American Century Companies Inc. owned 0.66% of Regal Rexnord worth $67,347,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ lifted its position in Regal Rexnord by 472.4% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company’s stock valued at $25,000 after acquiring an additional 137 shares in the last quarter. Tobam purchased a new stake in shares of Regal Rexnord in the fourth quarter worth approximately $45,000. Jones Financial Companies Lllp lifted its holdings in shares of Regal Rexnord by 90.5% in the fourth quarter. Jones Financial Companies Lllp now owns 322 shares of the company’s stock valued at $50,000 after purchasing an additional 153 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Regal Rexnord by 45.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 337 shares of the company’s stock valued at $52,000 after buying an additional 105 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its holdings in Regal Rexnord by 30.3% during the third quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company’s stock worth $71,000 after buying an additional 100 shares in the last quarter. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Regal Rexnord Price Performance

Shares of NYSE RRX opened at $124.79 on Wednesday. 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 has a fifty day simple moving average of $138.27 and a two-hundred day simple moving average of $156.25. Regal Rexnord Co. has a 1-year low of $113.73 and a 1-year high of $185.28. The firm has a market cap of $8.27 billion, a price-to-earnings ratio of 42.30, a price-to-earnings-growth ratio of 1.37 and a beta of 1.11.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings data 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 return on equity of 9.57% and a net margin of 3.25%. Analysts anticipate that Regal Rexnord Co. will post 9.95 earnings per share for the current year.

Regal Rexnord Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be issued 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 yield of 1.12%. Regal Rexnord’s payout ratio is 47.46%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on RRX. StockNews.com cut 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 shares of Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Barclays reduced their price objective 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. The Goldman Sachs Group lifted their target price on shares of Regal Rexnord from $191.00 to $213.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Finally, Citigroup cut their target price on Regal Rexnord from $210.00 to $190.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Regal Rexnord currently has an average rating of “Moderate Buy” and an average price target of $195.75.

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.