Price T Rowe Associates Inc. MD Has $7.21 Million Stock Position in Regal Rexnord Co. (NYSE:RRX)

Price T Rowe Associates Inc. MD boosted its position in Regal Rexnord Co. (NYSE:RRX - Free Report) by 8.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 46,477 shares of the company's stock after buying an additional 3,620 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.07% of Regal Rexnord worth $7,210,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Pinebridge Investments L.P. increased its holdings in shares of Regal Rexnord by 42.7% in the 4th quarter. Pinebridge Investments L.P. now owns 19,024 shares of the company's stock valued at $2,951,000 after acquiring an additional 5,693 shares during the last quarter. Hsbc Holdings PLC increased its stake in Regal Rexnord by 114.1% during the fourth quarter. Hsbc Holdings PLC now owns 5,390 shares of the company's stock valued at $835,000 after purchasing an additional 2,873 shares during the last quarter. Stifel Financial Corp raised its holdings in shares of Regal Rexnord by 8.6% during the fourth quarter. Stifel Financial Corp now owns 65,995 shares of the company's stock worth $10,238,000 after purchasing an additional 5,245 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of Regal Rexnord by 179.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,852 shares of the company's stock worth $598,000 after buying an additional 2,473 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky lifted its position in shares of Regal Rexnord by 10.1% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 79,905 shares of the company's stock worth $12,396,000 after buying an additional 7,341 shares during the last quarter. Institutional investors and hedge funds own 99.72% of the company's stock.

Regal Rexnord Price Performance

NYSE RRX traded up $14.95 on Tuesday, reaching $125.23. 1,772,561 shares of the stock traded hands, compared to its average volume of 549,422. Regal Rexnord Co. has a 12 month low of $90.56 and a 12 month high of $185.28. The company has a market cap of $8.30 billion, a price-to-earnings ratio of 42.45, a P/E/G ratio of 1.37 and a beta of 1.11. The firm's fifty day simple moving average is $111.51 and its 200 day simple moving average is $143.28. The company has a quick ratio of 1.25, a current ratio of 2.26 and a debt-to-equity ratio of 0.87.

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

Regal Rexnord Announces Dividend

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 given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend is Monday, June 30th. Regal Rexnord's dividend payout ratio (DPR) is currently 47.46%.

Wall Street Analysts Forecast Growth

RRX has been the topic of several research reports. StockNews.com lowered shares of Regal Rexnord from a "buy" rating to a "hold" rating in a research note on Wednesday, April 16th. Oppenheimer cut their price target on Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating on the stock in a report on Friday, February 7th. The Goldman Sachs Group dropped their target price on Regal Rexnord from $183.00 to $163.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Barclays reduced their price target on shares of Regal Rexnord from $160.00 to $155.00 and set an "overweight" rating for the company in a report on Wednesday, March 26th. Finally, Citigroup cut their price objective on shares of Regal Rexnord from $170.00 to $110.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $170.75.

Regal Rexnord 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.