Hsbc Holdings PLC Purchases 2,873 Shares of Regal Rexnord Co. (NYSE:RRX)

Hsbc Holdings PLC raised its position in Regal Rexnord Co. (NYSE:RRX - Free Report) by 114.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,390 shares of the company's stock after purchasing an additional 2,873 shares during the quarter. Hsbc Holdings PLC's holdings in Regal Rexnord were worth $835,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its stake in Regal Rexnord by 56.8% in the 4th quarter. JPMorgan Chase & Co. now owns 683,980 shares of the company's stock valued at $106,106,000 after acquiring an additional 247,673 shares in the last quarter. First Hawaiian Bank bought a new stake in shares of Regal Rexnord in the fourth quarter worth $811,000. Franklin Resources Inc. boosted its holdings in Regal Rexnord by 7.2% during the third 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 last quarter. Atria Investments Inc grew its position in Regal Rexnord by 48.9% in the fourth quarter. Atria Investments Inc now owns 2,310 shares of the company's stock valued at $358,000 after purchasing an additional 759 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Regal Rexnord by 16.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,844 shares of the company's stock valued at $2,613,000 after buying an additional 2,414 shares during the last quarter. 99.72% of the stock is currently owned by institutional investors.

Regal Rexnord Stock Performance

NYSE RRX opened at $111.84 on Monday. The stock has a market cap of $7.41 billion, a PE ratio of 37.91, a P/E/G ratio of 1.37 and a beta of 1.09. 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 has a 50-day moving average of $111.99 and a 200-day moving average of $143.75. Regal Rexnord Co. has a 52-week low of $90.56 and a 52-week high of $185.28.

Regal Rexnord (NYSE:RRX - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $2.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.56 by ($0.22). Regal Rexnord had a return on equity of 9.57% and a net margin of 3.25%. On average, sell-side analysts anticipate that Regal Rexnord Co. will post 9.95 EPS for the current year.

Regal Rexnord Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 14th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date is Monday, June 30th. Regal Rexnord's dividend payout ratio is currently 47.46%.

Analyst Upgrades and Downgrades

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

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.

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