Lbp Am Sa Boosts Stake in Regal Rexnord Co. (NYSE:RRX)

Lbp Am Sa lifted its stake in Regal Rexnord Co. (NYSE:RRX) by 0.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,447 shares of the company’s stock after purchasing an additional 156 shares during the period. Lbp Am Sa’s holdings in Regal Rexnord were worth $4,568,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Skandinaviska Enskilda Banken AB publ boosted its holdings in Regal Rexnord by 472.4% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company’s stock worth $25,000 after buying an additional 137 shares during the period. Tobam bought a new position in Regal Rexnord in the 4th quarter worth $45,000. Jones Financial Companies Lllp boosted its holdings in Regal Rexnord by 90.5% in the 4th quarter. Jones Financial Companies Lllp now owns 322 shares of the company’s stock worth $50,000 after buying an additional 153 shares during the period. Smartleaf Asset Management LLC boosted its holdings in Regal Rexnord by 45.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 337 shares of the company’s stock worth $52,000 after buying an additional 105 shares during the period. Finally, Nomura Asset Management Co. Ltd. boosted 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 buying an additional 100 shares during the period. 99.72% of the stock is currently owned by hedge funds and other institutional investors.

Regal Rexnord Stock Up 1.3 %

Shares of NYSE:RRX opened at $116.44 on Friday. 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 $113.73 and a 12 month high of $185.28. The company has a 50-day moving average price of $142.83 and a 200 day moving average price of $158.14. The company has a market cap of $7.72 billion, a price-to-earnings ratio of 39.47, a PEG ratio of 1.37 and a beta of 1.11.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $2.34 EPS for the quarter, missing analysts’ consensus estimates 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, equities research analysts predict that Regal Rexnord Co. will post 9.95 earnings per share for the current year.

Regal Rexnord Announces Dividend

The firm 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 $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date is Monday, March 31st. Regal Rexnord’s payout ratio is 47.46%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on RRX shares. StockNews.com downgraded shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 16th. Jefferies Financial Group began coverage on shares of Regal Rexnord in a report on Thursday, December 12th. They set a “buy” rating and a $215.00 price objective for the company. Citigroup dropped their price objective 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. Barclays dropped their price objective on shares of Regal Rexnord from $176.00 to $160.00 and set an “overweight” rating for the company in a report on Monday, March 10th. Finally, The Goldman Sachs Group increased their price objective on shares of Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a report on Thursday, December 12th. One 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, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $195.75.

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.