Regal Rexnord Co. (NYSE:RRX) Shares Acquired by Comerica Bank

Comerica Bank grew its position in Regal Rexnord Co. (NYSE:RRX - Free Report) by 9.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 192,841 shares of the company's stock after acquiring an additional 17,013 shares during the quarter. Comerica Bank owned about 0.29% of Regal Rexnord worth $29,915,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Skandinaviska Enskilda Banken AB publ raised its stake in Regal Rexnord by 472.4% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company's stock valued at $25,000 after acquiring an additional 137 shares during the last quarter. Bernard Wealth Management Corp. purchased a new stake in shares of Regal Rexnord during the fourth quarter worth approximately $30,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Regal Rexnord during the fourth quarter worth approximately $33,000. Tobam purchased a new position in Regal Rexnord in the 4th quarter valued at $45,000. Finally, Jones Financial Companies Lllp grew its position in Regal Rexnord by 90.5% in the 4th quarter. Jones Financial Companies Lllp now owns 322 shares of the company's stock valued at $50,000 after buying an additional 153 shares during the last quarter. 99.72% of the stock is currently owned by hedge funds and other institutional investors.

Regal Rexnord Price Performance

Shares of RRX traded up $4.52 during trading hours on Friday, reaching $111.84. 681,131 shares of the company traded hands, compared to its average volume of 542,415. The stock has a market capitalization of $7.41 billion, a PE ratio of 37.91, a price-to-earnings-growth ratio of 1.37 and a beta of 1.09. The stock has a fifty day simple moving average of $111.99 and a 200 day simple moving average of $143.98. Regal Rexnord Co. has a fifty-two week low of $90.56 and a fifty-two week high of $185.28. The company has a quick ratio of 1.25, a current ratio of 2.26 and a debt-to-equity ratio of 0.87.

Regal Rexnord (NYSE:RRX - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $2.34 earnings per share 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, research analysts predict that Regal Rexnord Co. will post 9.95 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 14th. Investors of record on Monday, June 30th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.40 annualized dividend and a yield of 1.25%. Regal Rexnord's dividend payout ratio (DPR) is presently 47.46%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. The Goldman Sachs Group reduced their target price on shares of Regal Rexnord from $183.00 to $163.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. StockNews.com cut Regal Rexnord from a "buy" rating to a "hold" rating in a research report on Wednesday, April 16th. Oppenheimer decreased their price target on Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating on the stock in a research note on Friday, February 7th. Citigroup reduced their target price on Regal Rexnord from $170.00 to $110.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Finally, KeyCorp reduced their price objective on shares of Regal Rexnord from $180.00 to $125.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $170.75.

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.