Price T Rowe Associates Inc. MD Purchases 3,620 Shares of Regal Rexnord Co. (NYSE:RRX)

Price T Rowe Associates Inc. MD lifted its position in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) by 8.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 large investors have also recently made changes to their positions in the company. Pinebridge Investments L.P. lifted its stake in Regal Rexnord by 42.7% during the fourth quarter. Pinebridge Investments L.P. now owns 19,024 shares of the company's stock worth $2,951,000 after purchasing an additional 5,693 shares in the last quarter. Hsbc Holdings PLC boosted its stake in shares of 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 acquiring an additional 2,873 shares during the last quarter. Stifel Financial Corp raised its stake in 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 boosted its holdings in 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 acquiring an additional 2,473 shares during the period. Finally, Teachers Retirement System of The State of Kentucky boosted its stake in Regal Rexnord by 10.1% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 79,905 shares of the company's stock valued at $12,396,000 after acquiring an additional 7,341 shares during the last quarter. 99.72% of the stock is owned by institutional investors.

Regal Rexnord Stock Up 1.1 %

RRX traded up $1.44 during mid-day trading on Friday, reaching $133.63. 229,416 shares of the stock were exchanged, compared to its average volume of 552,239. The stock has a market capitalization of $8.86 billion, a PE ratio of 45.30, a price-to-earnings-growth ratio of 1.37 and a beta of 1.11. The company has a 50 day moving average price of $111.60 and a two-hundred day moving average price of $142.78. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.25 and a current ratio of 2.26. Regal Rexnord Co. has a 1 year low of $90.56 and a 1 year high of $185.28.

Regal Rexnord (NYSE:RRX - Get Free Report) last issued its 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 return on equity of 9.57% and a net margin of 3.25%. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the prior year, the firm earned $2.00 earnings per share. Regal Rexnord's revenue for the quarter was down 8.4% on a year-over-year basis. As a group, research analysts anticipate that Regal Rexnord Co. will post 9.95 EPS for the current year.

Regal Rexnord Announces Dividend

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. The ex-dividend date is Monday, June 30th. This represents a $1.40 dividend on an annualized basis and a yield of 1.05%. Regal Rexnord's payout ratio is currently 47.46%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on RRX shares. StockNews.com lowered Regal Rexnord from a "buy" rating to a "hold" rating in a report on Wednesday, April 16th. Robert W. Baird raised their price target on Regal Rexnord from $167.00 to $172.00 and gave the company an "outperform" rating in a research report on Wednesday. Citigroup increased their price objective on shares of Regal Rexnord from $110.00 to $145.00 and gave the company a "buy" rating in a research note on Thursday. The Goldman Sachs Group lowered their target price on shares of Regal Rexnord from $183.00 to $163.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Finally, KeyCorp dropped their target price on shares of Regal Rexnord from $180.00 to $125.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Regal Rexnord presently has a consensus rating of "Moderate Buy" and a consensus price target of $170.63.

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.