Natixis Advisors L.P. raised its holdings in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) by 15.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 307,168 shares of the company's stock after acquiring an additional 40,996 shares during the quarter. Natixis Advisors L.P. owned approximately 0.46% of Regal Rexnord worth $45,467,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also modified their holdings of RRX. Commonwealth Equity Services LLC increased its position in Regal Rexnord by 3.7% during the third quarter. Commonwealth Equity Services LLC now owns 3,277 shares of the company's stock worth $468,000 after purchasing an additional 118 shares during the last quarter. Raymond James & Associates raised its position in shares of Regal Rexnord by 4.0% during the 3rd quarter. Raymond James & Associates now owns 76,861 shares of the company's stock valued at $10,982,000 after acquiring an additional 2,978 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Regal Rexnord by 2.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 657,959 shares of the company's stock worth $94,009,000 after buying an additional 17,810 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Regal Rexnord by 17.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,083 shares of the company's stock valued at $1,869,000 after acquiring an additional 1,957 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in Regal Rexnord by 9.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 354,143 shares of the company's stock worth $50,600,000 after buying an additional 30,359 shares during the last quarter. 99.72% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on RRX shares. Barclays upped their price target on shares of Regal Rexnord from $200.00 to $203.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 2nd. KeyCorp upped their price target on Regal Rexnord from $180.00 to $210.00 and gave the company an "overweight" rating in a research report on Monday, March 25th. Finally, Oppenheimer increased their target price on shares of Regal Rexnord from $185.00 to $210.00 and gave the stock an "outperform" rating in a research report on Wednesday, March 13th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Regal Rexnord currently has a consensus rating of "Moderate Buy" and a consensus target price of $197.00.
Check Out Our Latest Analysis on Regal Rexnord
Insider Activity
In other Regal Rexnord news, EVP Thomas E. Valentyn sold 647 shares of the firm's stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $169.70, for a total value of $109,795.90. Following the sale, the executive vice president now owns 28,412 shares in the company, valued at $4,821,516.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Thomas E. Valentyn sold 647 shares of Regal Rexnord stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $169.70, for a total transaction of $109,795.90. Following the completion of the transaction, the executive vice president now owns 28,412 shares of the company's stock, valued at $4,821,516.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jerrald R. Morton sold 2,992 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $154.34, for a total value of $461,785.28. Following the transaction, the executive vice president now owns 15,884 shares in the company, valued at $2,451,536.56. The disclosure for this sale can be found here. In the last three months, insiders sold 5,570 shares of company stock worth $892,301. 0.82% of the stock is currently owned by company insiders.
Regal Rexnord Trading Up 1.6 %
NYSE RRX traded up $2.54 during trading hours on Friday, hitting $165.08. The company's stock had a trading volume of 302,756 shares, compared to its average volume of 424,152. Regal Rexnord Co. has a twelve month low of $97.18 and a twelve month high of $183.85. The company has a quick ratio of 1.59, a current ratio of 2.55 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $10.98 billion, a P/E ratio of -189.74, a PEG ratio of 1.62 and a beta of 1.16. The stock has a fifty day moving average of $169.91 and a 200 day moving average of $145.91.
Regal Rexnord (NYSE:RRX - Get Free Report) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $2.28 EPS for the quarter, beating the consensus estimate of $2.26 by $0.02. Regal Rexnord had a negative net margin of 0.92% and a positive return on equity of 9.58%. The business had revenue of $1.61 billion for the quarter, compared to analysts' expectations of $1.63 billion. During the same period in the previous year, the firm posted $2.64 EPS. The firm's revenue was up 29.2% compared to the same quarter last year. Equities research analysts forecast that Regal Rexnord Co. will post 10.05 earnings per share for the current fiscal year.
Regal Rexnord Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.35 per share. The ex-dividend date is Friday, June 28th. This represents a $1.40 annualized dividend and a dividend yield of 0.85%. Regal Rexnord's dividend payout ratio is presently -160.92%.
About Regal Rexnord
(
Free Report)
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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