Regal Rexnord Co. (NYSE:RRX) Shares Purchased by Pinebridge Investments L.P.

Pinebridge Investments L.P. raised its position in Regal Rexnord Co. (NYSE:RRX - Free Report) by 42.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,024 shares of the company's stock after buying an additional 5,693 shares during the quarter. Pinebridge Investments L.P.'s holdings in Regal Rexnord were worth $2,951,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. KeyCorp cut their price target on Regal Rexnord from $180.00 to $125.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. StockNews.com cut shares of Regal Rexnord from a "buy" rating to a "hold" rating in a research note on Wednesday, April 16th. The Goldman Sachs Group dropped their price target on shares of Regal Rexnord from $183.00 to $163.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Citigroup lowered their price objective on Regal Rexnord from $170.00 to $110.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Finally, Barclays cut their target price on Regal Rexnord from $160.00 to $155.00 and set an "overweight" rating for the company in a research note on Wednesday, March 26th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $170.75.

Regal Rexnord Price Performance

Regal Rexnord stock traded down $0.98 during trading hours on Wednesday, hitting $105.93. The stock had a trading volume of 696,958 shares, compared to its average volume of 537,346. The stock has a market capitalization of $7.02 billion, a price-to-earnings ratio of 35.91, a PEG ratio of 1.37 and a beta of 1.09. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.26 and a quick ratio of 1.25. Regal Rexnord Co. has a 1-year low of $90.56 and a 1-year high of $185.28. The stock's fifty day moving average is $113.51 and its two-hundred day moving average is $145.40.

Regal Rexnord (NYSE:RRX - Get Free Report) last announced its quarterly earnings results 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 net margin of 3.25% and a return on equity of 9.57%. As a group, analysts predict that Regal Rexnord Co. will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 14th. Stockholders of record on Monday, June 30th will be given a $0.35 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.40 annualized dividend and a dividend yield of 1.32%. Regal Rexnord's dividend payout ratio is currently 47.46%.

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.