Wells Fargo & Company MN increased its holdings in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) by 28.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 107,994 shares of the company's stock after purchasing an additional 24,146 shares during the quarter. Wells Fargo & Company MN owned 0.16% of Regal Rexnord worth $16,753,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of the stock. Skandinaviska Enskilda Banken AB publ raised its holdings in shares of Regal Rexnord by 472.4% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company's stock worth $25,000 after acquiring an additional 137 shares during the period. Tobam acquired a new stake in shares of Regal Rexnord in the 4th quarter valued at about $45,000. Jones Financial Companies Lllp raised its stake in shares of Regal Rexnord by 90.5% in the 4th quarter. Jones Financial Companies Lllp now owns 322 shares of the company's stock valued at $50,000 after purchasing an additional 153 shares during the period. Smartleaf Asset Management LLC lifted its holdings in shares of Regal Rexnord by 45.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 337 shares of the company's stock valued at $52,000 after purchasing an additional 105 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its holdings in shares of Regal Rexnord by 30.3% during the third quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company's stock worth $71,000 after buying an additional 100 shares in the last quarter. 99.72% of the stock is currently owned by institutional investors and hedge funds.
Regal Rexnord Stock Performance
Regal Rexnord stock traded up $1.74 during mid-day trading on Friday, hitting $98.38. 839,476 shares of the company's stock traded hands, compared to its average volume of 531,527. Regal Rexnord Co. has a fifty-two week low of $90.56 and a fifty-two week high of $185.28. The stock has a market cap of $6.52 billion, a price-to-earnings ratio of 33.35, a P/E/G ratio of 1.37 and a beta of 1.09. The firm has a 50 day simple moving average of $118.11 and a two-hundred day simple moving average of $148.57. 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 (NYSE:RRX - Get Free Report) last announced its earnings results on Wednesday, February 5th. The company reported $2.34 EPS for the quarter, missing the consensus estimate of $2.56 by ($0.22). Regal Rexnord had a return on equity of 9.57% and a net margin of 3.25%. On average, research analysts expect that Regal Rexnord Co. will post 9.95 EPS for the current fiscal year.
Regal Rexnord Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, April 14th. Investors of record on Monday, March 31st were paid a $0.35 dividend. The ex-dividend date was Monday, March 31st. This represents a $1.40 annualized dividend and a yield of 1.42%. Regal Rexnord's dividend payout ratio (DPR) is presently 47.46%.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on RRX shares. KeyCorp reduced their price target on Regal Rexnord from $180.00 to $125.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Oppenheimer decreased their target price on shares of Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating for the company in a research report on Friday, February 7th. StockNews.com cut shares of Regal Rexnord from a "buy" rating to a "hold" rating in a research report on Wednesday. The Goldman Sachs Group decreased their price objective on Regal Rexnord from $183.00 to $163.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Finally, Citigroup reduced their price target on Regal Rexnord from $170.00 to $110.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $170.75.
View Our Latest Stock Analysis on Regal Rexnord
Regal Rexnord Profile
(
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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