Jennison Associates LLC Buys 44,447 Shares of Regal Rexnord Co. (NYSE:RRX)

Jennison Associates LLC increased its stake in Regal Rexnord Co. (NYSE:RRXFree Report) by 33.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 175,702 shares of the company’s stock after purchasing an additional 44,447 shares during the quarter. Jennison Associates LLC owned approximately 0.27% of Regal Rexnord worth $27,257,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. UMB Bank n.a. lifted its stake in shares of Regal Rexnord by 72.5% in the third quarter. UMB Bank n.a. now owns 345 shares of the company’s stock worth $57,000 after buying an additional 145 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in Regal Rexnord by 30.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company’s stock worth $71,000 after acquiring an additional 100 shares during the period. 1620 Investment Advisors Inc. lifted its position in Regal Rexnord by 17.4% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 452 shares of the company’s stock worth $75,000 after acquiring an additional 67 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Regal Rexnord by 30.0% during the third quarter. GAMMA Investing LLC now owns 841 shares of the company’s stock valued at $140,000 after acquiring an additional 194 shares during the period. Finally, Weatherly Asset Management L. P. acquired a new stake in shares of Regal Rexnord in the third quarter valued at about $180,000. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Regal Rexnord Stock Up 2.1 %

Shares of RRX opened at $155.06 on Wednesday. Regal Rexnord Co. has a 12 month low of $130.94 and a 12 month high of $185.28. The stock has a market cap of $10.27 billion, a price-to-earnings ratio of 48.91, a P/E/G ratio of 1.53 and a beta of 1.03. The company has a 50-day moving average price of $161.31 and a two-hundred day moving average price of $163.10. The company has a quick ratio of 1.35, a current ratio of 2.45 and a debt-to-equity ratio of 0.87.

Regal Rexnord (NYSE:RRXGet Free Report) last announced its quarterly earnings results on Monday, November 4th. The company reported $2.49 EPS for the quarter, beating the consensus estimate of $2.48 by $0.01. Regal Rexnord had a return on equity of 9.48% and a net margin of 3.41%. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the previous year, the firm earned $2.10 EPS. Regal Rexnord’s quarterly revenue was down 10.4% on a year-over-year basis. Equities analysts predict that Regal Rexnord Co. will post 9.24 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

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 issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.90%. The ex-dividend date is Monday, March 31st. Regal Rexnord’s dividend payout ratio is currently 44.16%.

Insider Buying and Selling at Regal Rexnord

In other news, CEO Louis V. Pinkham sold 8,774 shares of Regal Rexnord stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $180.03, for a total value of $1,579,583.22. Following the completion of the transaction, the chief executive officer now owns 149,618 shares in the company, valued at approximately $26,935,728.54. The trade was a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.82% of the company’s stock.

Analyst Ratings Changes

RRX has been the topic of a number of research analyst reports. StockNews.com lowered Regal Rexnord from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 16th. Barclays dropped their target price on shares of Regal Rexnord from $205.00 to $190.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Citigroup reduced their price target on shares of Regal Rexnord from $210.00 to $190.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. The Goldman Sachs Group boosted their price objective on shares of Regal Rexnord from $191.00 to $213.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Finally, Jefferies Financial Group initiated coverage on shares of Regal Rexnord in a research note on Thursday, December 12th. They issued a “buy” rating and a $215.00 target price for the company. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Regal Rexnord has an average rating of “Moderate Buy” and a consensus target price of $202.00.

Get Our Latest Research Report on Regal Rexnord

About Regal Rexnord

(Free Report)

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.

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Institutional Ownership by Quarter for Regal Rexnord (NYSE:RRX)

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