Regal Rexnord Co. (NYSE:RRX) Shares Bought by Wealthspire Advisors LLC

Wealthspire Advisors LLC boosted its stake in shares of Regal Rexnord Co. (NYSE:RRX) by 6.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,443 shares of the company’s stock after buying an additional 144 shares during the period. Wealthspire Advisors LLC’s holdings in Regal Rexnord were worth $379,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Hudson Edge Investment Partners Inc. boosted its stake in Regal Rexnord by 50.3% during the fourth quarter. Hudson Edge Investment Partners Inc. now owns 4,790 shares of the company’s stock worth $743,000 after buying an additional 1,602 shares during the last quarter. Handelsbanken Fonder AB raised its position in Regal Rexnord by 22.4% in the fourth quarter. Handelsbanken Fonder AB now owns 19,114 shares of the company’s stock valued at $2,965,000 after purchasing an additional 3,500 shares during the period. TimesSquare Capital Management LLC raised 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 purchasing an additional 232,509 shares during the period. CIBC Asset Management Inc raised its position in Regal Rexnord by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 2,061 shares of the company’s stock valued at $320,000 after purchasing an additional 101 shares during the period. Finally, Tobam purchased a new stake in Regal Rexnord in the fourth quarter valued at $45,000. Institutional investors and hedge funds own 99.72% of the company’s stock.

Regal Rexnord Price Performance

RRX stock opened at $134.25 on Thursday. The business’s fifty day moving average price is $151.63 and its 200 day moving average price is $161.46. 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 Co. has a 12-month low of $128.95 and a 12-month high of $185.28. The company has a market capitalization of $8.89 billion, a PE ratio of 45.51, a P/E/G ratio of 1.37 and a beta of 1.03.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings results 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%. On average, sell-side analysts anticipate that Regal Rexnord Co. will post 9.95 EPS for the current year.

Regal Rexnord Dividend Announcement

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 issued a dividend of $0.35 per share. The ex-dividend date is Monday, March 31st. This represents a $1.40 annualized dividend and a yield of 1.04%. Regal Rexnord’s dividend payout ratio (DPR) is 47.46%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. The Goldman Sachs Group lifted 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. StockNews.com downgraded Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 16th. Citigroup reduced their target price on Regal Rexnord from $210.00 to $190.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Barclays reduced their target price on Regal Rexnord from $190.00 to $176.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. Finally, Oppenheimer reduced their target price on Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Regal Rexnord currently has a consensus rating of “Moderate Buy” and an average target price of $197.75.

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.