Tower Research Capital LLC TRC Raises Holdings in Regal Rexnord Co. (NYSE:RRX)

Tower Research Capital LLC TRC grew its position in Regal Rexnord Co. (NYSE:RRX - Free Report) by 179.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,852 shares of the company's stock after acquiring an additional 2,473 shares during the quarter. Tower Research Capital LLC TRC's holdings in Regal Rexnord were worth $598,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Victory Capital Management Inc. lifted its position in shares of Regal Rexnord by 20.1% in the fourth quarter. Victory Capital Management Inc. now owns 2,176,963 shares of the company's stock valued at $337,712,000 after acquiring an additional 363,728 shares in the last quarter. Norges Bank purchased a new position in Regal Rexnord during the fourth quarter worth approximately $235,188,000. Franklin Resources Inc. lifted its position in Regal Rexnord by 7.2% during the third quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company's stock worth $204,254,000 after buying an additional 77,215 shares in the last quarter. TimesSquare Capital Management LLC lifted its position in Regal Rexnord by 35.7% during the fourth quarter. TimesSquare Capital Management LLC now owns 884,095 shares of the company's stock worth $137,150,000 after buying an additional 232,509 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Regal Rexnord by 56.8% during the fourth quarter. JPMorgan Chase & Co. now owns 683,980 shares of the company's stock worth $106,106,000 after buying an additional 247,673 shares in the last quarter. Hedge funds and other institutional investors own 99.72% of the company's stock.

Regal Rexnord Trading Up 1.3 %

NYSE:RRX traded up $1.38 on Thursday, reaching $107.22. The company's stock had a trading volume of 1,062,494 shares, compared to its average volume of 539,908. Regal Rexnord Co. has a 12-month low of $90.56 and a 12-month high of $185.28. The company has a quick ratio of 1.25, a current ratio of 2.26 and a debt-to-equity ratio of 0.87. The firm has a market cap of $7.11 billion, a price-to-earnings ratio of 36.35, a price-to-earnings-growth ratio of 1.37 and a beta of 1.09. The stock has a 50 day moving average price of $112.94 and a 200 day moving average price of $145.12.

Regal Rexnord (NYSE:RRX - Get Free Report) last posted its quarterly earnings data 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%. On average, equities analysts anticipate that Regal Rexnord Co. will post 9.95 EPS for the current fiscal 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 of this dividend is Monday, June 30th. This represents a $1.40 annualized dividend and a dividend yield of 1.31%. Regal Rexnord's dividend payout ratio is presently 47.46%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Oppenheimer reduced their price objective on Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating on the stock in a research report on Friday, February 7th. KeyCorp reduced their price objective on Regal Rexnord from $180.00 to $125.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. StockNews.com downgraded Regal Rexnord from a "buy" rating to a "hold" rating in a research report on Wednesday, April 16th. Citigroup reduced their price objective on Regal Rexnord from $170.00 to $110.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Finally, Barclays reduced their price objective on Regal Rexnord from $160.00 to $155.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 26th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Regal Rexnord has a consensus rating of "Moderate Buy" and an average price target of $170.75.

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.