New Age Alpha Advisors LLC Makes New $6.43 Million Investment in Regal Rexnord Co. (NYSE:RRX)

New Age Alpha Advisors LLC bought a new position in shares of Regal Rexnord Co. (NYSE:RRX) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 41,427 shares of the company’s stock, valued at approximately $6,427,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new stake in Regal Rexnord during the fourth quarter worth approximately $235,188,000. JPMorgan Chase & Co. raised its stake in Regal Rexnord by 56.8% during the 4th quarter. JPMorgan Chase & Co. now owns 683,980 shares of the company’s stock worth $106,106,000 after acquiring an additional 247,673 shares in the last quarter. Murphy & Mullick Capital Management Corp purchased a new stake in Regal Rexnord in the fourth quarter valued at $359,000. EntryPoint Capital LLC acquired a new position in Regal Rexnord in the fourth quarter valued at $813,000. Finally, LPL Financial LLC increased its position in shares of Regal Rexnord by 14.2% during the fourth quarter. LPL Financial LLC now owns 32,007 shares of the company’s stock worth $4,965,000 after purchasing an additional 3,982 shares in the last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.

Regal Rexnord Price Performance

Shares of NYSE RRX opened at $120.80 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.25 and a current ratio of 2.26. Regal Rexnord Co. has a one year low of $113.73 and a one year high of $185.28. The firm has a market capitalization of $8.01 billion, a P/E ratio of 40.95, a PEG ratio of 1.37 and a beta of 1.11. The company’s fifty day moving average is $136.83 and its two-hundred day moving average is $155.77.

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

Regal Rexnord Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. The Goldman Sachs Group upped their target price on Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Oppenheimer lowered their target price 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 target on shares of Regal Rexnord from $160.00 to $155.00 and set an “overweight” rating for the company in a research report on Wednesday. Jefferies Financial Group began coverage on Regal Rexnord in a research report on Thursday, December 12th. They set a “buy” rating and a $215.00 price objective for the company. Finally, Citigroup lowered their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $195.13.

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.