Brown Brothers Harriman & Co. Has $385,000 Holdings in Regal Rexnord Co. (NYSE:RRX)

Brown Brothers Harriman & Co. grew its holdings in Regal Rexnord Co. (NYSE:RRX) by 6.4% in the fourth quarter, HoldingsChannel reports. The fund owned 2,485 shares of the company’s stock after buying an additional 150 shares during the period. Brown Brothers Harriman & Co.’s holdings in Regal Rexnord were worth $385,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new position in Regal Rexnord in the fourth quarter valued at approximately $235,188,000. Point72 Asset Management L.P. acquired a new position in shares of Regal Rexnord during the 3rd quarter worth $83,460,000. Victory Capital Management Inc. lifted its position in shares of 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 last quarter. JPMorgan Chase & Co. boosted its stake in Regal Rexnord by 56.8% in the fourth quarter. JPMorgan Chase & Co. now owns 683,980 shares of the company’s stock valued at $106,106,000 after buying an additional 247,673 shares in the last quarter. Finally, TimesSquare Capital Management LLC grew its position in Regal Rexnord by 35.7% in the fourth quarter. TimesSquare Capital Management LLC now owns 884,095 shares of the company’s stock valued at $137,150,000 after acquiring an additional 232,509 shares during the last quarter. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RRX has been the subject of a number of research analyst reports. Citigroup lowered their price objective 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 lowered shares of Regal Rexnord from a “buy” rating to a “hold” rating in a report on Monday. Barclays reduced their target price on shares of Regal Rexnord from $160.00 to $155.00 and set an “overweight” rating on the stock in a report on Wednesday, March 26th. The Goldman Sachs Group raised their price target on shares of Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Finally, Oppenheimer reduced their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $195.13.

Regal Rexnord Stock Performance

Shares of RRX opened at $113.80 on Tuesday. 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 firm’s fifty day simple moving average is $135.21 and its two-hundred day simple moving average is $155.42. Regal Rexnord Co. has a 12 month low of $111.15 and a 12 month high of $185.28. The stock has a market capitalization of $7.54 billion, a P/E ratio of 38.57, a price-to-earnings-growth ratio of 1.37 and a beta of 1.11.

Regal Rexnord (NYSE:RRX) last announced its earnings results on Wednesday, February 5th. The company reported $2.34 EPS 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, analysts predict that Regal Rexnord Co. will post 9.95 EPS for the current year.

Regal Rexnord Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be paid a $0.35 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.40 annualized dividend and a dividend yield of 1.23%. Regal Rexnord’s dividend payout ratio is currently 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.