1620 Investment Advisors Inc. Has $101,000 Holdings in Regal Rexnord Co. (NYSE:RRX)

1620 Investment Advisors Inc. increased its stake in Regal Rexnord Co. (NYSE:RRX) by 43.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 648 shares of the company’s stock after purchasing an additional 196 shares during the quarter. 1620 Investment Advisors Inc.’s holdings in Regal Rexnord were worth $101,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Victory Capital Management Inc. boosted its stake in Regal Rexnord by 20.1% in the 4th quarter. Victory Capital Management Inc. now owns 2,176,963 shares of the company’s stock worth $337,712,000 after purchasing an additional 363,728 shares during the period. State Street Corp boosted its stake in Regal Rexnord by 1.3% in the 3rd quarter. State Street Corp now owns 1,972,866 shares of the company’s stock worth $327,944,000 after purchasing an additional 24,860 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Regal Rexnord by 6.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,289,917 shares of the company’s stock worth $213,971,000 after purchasing an additional 83,823 shares during the period. Franklin Resources Inc. boosted its stake in Regal Rexnord by 7.2% in the 3rd quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company’s stock worth $204,254,000 after purchasing an additional 77,215 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in Regal Rexnord by 1.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,137,746 shares of the company’s stock worth $188,729,000 after purchasing an additional 12,301 shares during the period. 99.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on RRX shares. StockNews.com downgraded shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 16th. Barclays reduced their price objective on shares of Regal Rexnord from $176.00 to $160.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. The Goldman Sachs Group increased their price objective on shares of Regal Rexnord from $191.00 to $213.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Citigroup reduced 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 note on Tuesday, January 14th. Finally, Oppenheimer reduced their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $195.75.

Regal Rexnord Stock Down 2.2 %

Shares of RRX stock opened at $120.82 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. The firm’s 50-day moving average is $139.44 and its 200-day moving average is $156.57. The stock has a market cap of $8.01 billion, a price-to-earnings ratio of 40.96, a PEG ratio of 1.37 and a beta of 1.11. Regal Rexnord Co. has a 52-week low of $113.73 and a 52-week high of $185.28.

Regal Rexnord (NYSE:RRX) last issued its earnings results on Wednesday, February 5th. The company reported $2.34 earnings per share (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%. Sell-side analysts predict 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 $0.35 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.40 annualized dividend and a yield of 1.16%. Regal Rexnord’s dividend payout ratio is currently 47.46%.

Regal Rexnord Company 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.