Regal Rexnord Corporation $RRX Shares Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. boosted its holdings in Regal Rexnord Corporation (NYSE:RRX - Free Report) by 43.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 433,455 shares of the company's stock after acquiring an additional 131,497 shares during the quarter. Russell Investments Group Ltd. owned 0.65% of Regal Rexnord worth $67,240,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in RRX. BlackRock Inc. acquired a new position in Regal Rexnord during the 2nd quarter worth $1,477,356,000. Bank of New York Mellon Corp bought a new stake in shares of Regal Rexnord during the second quarter valued at about $449,281,000. Wellington Management Group LLP raised its stake in shares of Regal Rexnord by 75.8% during the second quarter. Wellington Management Group LLP now owns 2,584,056 shares of the company's stock valued at $615,496,000 after purchasing an additional 1,113,888 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Regal Rexnord during the second quarter valued at about $254,637,000. Finally, William Blair Investment Management LLC acquired a new stake in Regal Rexnord in the second quarter worth about $212,260,000. Institutional investors own 99.72% of the company's stock.

Regal Rexnord Price Performance

Shares of Regal Rexnord stock traded down $4.08 during trading on Friday, hitting $176.45. The stock had a trading volume of 1,178,307 shares, compared to its average volume of 1,252,578. The business has a fifty day moving average of $160.35 and a two-hundred day moving average of $190.17. Regal Rexnord Corporation has a fifty-two week low of $127.96 and a fifty-two week high of $247.80. The firm has a market cap of $11.75 billion, a P/E ratio of 51.00, a PEG ratio of 1.39 and a beta of 1.09. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.21 and a quick ratio of 1.15.

Regal Rexnord (NYSE:RRX - Get Free Report) last released its earnings results on Tuesday, November 3rd. The company reported $2.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.65 by $0.25. Regal Rexnord had a return on equity of 10.28% and a net margin of 3.77%. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same period in the previous year, the company earned $2.51 earnings per share. Regal Rexnord's revenue was up 6.1% compared to the same quarter last year. On average, sell-side analysts expect that Regal Rexnord Corporation will post 10.76 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 14th. Stockholders of record on Thursday, December 31st will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, December 31st. This represents a $1.40 annualized dividend and a dividend yield of 0.8%. Regal Rexnord's dividend payout ratio (DPR) is 40.46%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Wall Street Zen lowered shares of Regal Rexnord from a "buy" rating to a "hold" rating in a research report on Saturday, November 7th. Citigroup boosted their price target on shares of Regal Rexnord from $200.00 to $210.00 and gave the stock a "buy" rating in a research report on Wednesday, November 4th. Deutsche Bank started coverage on shares of Regal Rexnord in a research note on Monday, July 20th. They issued a "buy" rating and a $286.00 price target for the company. Weiss Ratings cut shares of Regal Rexnord from a "hold (c)" rating to a "hold (c-)" rating in a report on Monday, November 9th. Finally, KeyCorp lowered their price objective on shares of Regal Rexnord from $265.00 to $240.00 and set an "overweight" rating on the stock in a research note on Thursday, August 6th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $231.25.

About Regal Rexnord

Regal Rexnord Corporation designs, manufactures and sells products and systems that transmit power, control motion and move materials. Its offerings include electric motors, gear drives, bearings, couplings, clutches, brakes, conveyor components and automation technologies. The company serves customers in a range of industries, including industrial manufacturing, food and beverage, energy, commercial buildings and residential applications. Its products are used in equipment and systems such as factory machinery, conveyors, HVAC systems and material-handling operations.

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