Northern Trust Corp Buys 116,860 Shares of Regal Rexnord Co. (NYSE:RRX)

Northern Trust Corp boosted its position in Regal Rexnord Co. (NYSE:RRX - Free Report) by 25.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 574,701 shares of the company's stock after buying an additional 116,860 shares during the period. Northern Trust Corp owned approximately 0.87% of Regal Rexnord worth $89,153,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Skandinaviska Enskilda Banken AB publ grew its stake in Regal Rexnord by 472.4% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company's stock worth $25,000 after purchasing an additional 137 shares during the period. Bernard Wealth Management Corp. acquired a new position in shares of Regal Rexnord during the 4th quarter valued at $30,000. Aster Capital Management DIFC Ltd acquired a new stake in Regal Rexnord in the fourth quarter worth $33,000. Tobam acquired a new position in shares of Regal Rexnord during the fourth quarter valued at about $45,000. Finally, Jones Financial Companies Lllp boosted its position in shares of Regal Rexnord by 90.5% during the 4th quarter. Jones Financial Companies Lllp now owns 322 shares of the company's stock worth $50,000 after purchasing an additional 153 shares in the last quarter. Institutional investors own 99.72% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. StockNews.com downgraded Regal Rexnord from a "buy" rating to a "hold" rating in a research note on Wednesday, April 16th. Oppenheimer decreased their price target 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. Barclays dropped their price objective on shares of Regal Rexnord from $160.00 to $155.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 26th. Robert W. Baird boosted their target price on shares of Regal Rexnord from $167.00 to $172.00 and gave the stock an "outperform" rating in a research report on Wednesday. Finally, Citigroup raised their price target on shares of Regal Rexnord from $110.00 to $145.00 and gave the company a "buy" rating in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $170.63.

Regal Rexnord Stock Performance

RRX traded up $2.05 during trading on Friday, hitting $134.24. 981,133 shares of the company traded hands, compared to its average volume of 557,182. Regal Rexnord Co. has a one year low of $90.56 and a one year high of $185.28. The stock's fifty day moving average is $111.89 and its 200 day moving average is $142.36. The company has a quick ratio of 1.25, a current ratio of 2.26 and a debt-to-equity ratio of 0.87. The firm has a market cap of $8.90 billion, a P/E ratio of 45.51, a price-to-earnings-growth ratio of 1.37 and a beta of 1.11.

Regal Rexnord (NYSE:RRX - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.33. Regal Rexnord had a net margin of 3.25% and a return on equity of 9.57%. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same quarter last year, the business posted $2.00 EPS. Regal Rexnord's quarterly revenue was down 8.4% compared to the same quarter last year. As a group, equities analysts predict that Regal Rexnord Co. will post 9.95 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 14th. Investors of record on Monday, June 30th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend is Monday, June 30th. Regal Rexnord's dividend payout ratio (DPR) is currently 39.89%.

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.