Lbp Am Sa Boosts Stake in Regal Rexnord Co. (NYSE:RRX)

Lbp Am Sa raised its position in Regal Rexnord Co. (NYSE:RRX) by 0.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 29,447 shares of the company’s stock after purchasing an additional 156 shares during the period. Lbp Am Sa’s holdings in Regal Rexnord were worth $4,568,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. purchased a new position in shares of Regal Rexnord during the third quarter worth approximately $83,460,000. Westfield Capital Management Co. LP increased its position in shares of Regal Rexnord by 68.9% during the third quarter. Westfield Capital Management Co. LP now owns 979,521 shares of the company’s stock worth $162,483,000 after acquiring an additional 399,649 shares during the period. Victory Capital Management Inc. increased its position in shares of Regal Rexnord by 20.1% during the fourth quarter. Victory Capital Management Inc. now owns 2,176,963 shares of the company’s stock worth $337,712,000 after acquiring an additional 363,728 shares during the period. TimesSquare Capital Management LLC increased its position in shares of 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 acquiring an additional 232,509 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of Regal Rexnord during the fourth quarter worth approximately $22,325,000. 99.72% of the stock is owned by hedge funds and other institutional investors.

Regal Rexnord Price Performance

Shares of RRX opened at $116.44 on Friday. The company has a market cap of $7.72 billion, a price-to-earnings ratio of 39.47, a price-to-earnings-growth ratio of 1.37 and a beta of 1.11. Regal Rexnord Co. has a twelve month low of $113.73 and a twelve 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 company has a 50 day moving average of $142.83 and a two-hundred day moving average of $158.14.

Regal Rexnord (NYSE:RRX) last announced its earnings results on Wednesday, February 5th. The company reported $2.34 earnings per share 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.40 annualized dividend and a dividend yield of 1.20%. Regal Rexnord’s payout ratio is currently 47.46%.

Analyst Ratings Changes

RRX has been the topic of a number of research reports. Oppenheimer reduced their target price on shares of Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. The Goldman Sachs Group increased their price objective on shares of Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Barclays dropped their price objective on shares of Regal Rexnord from $176.00 to $160.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. Citigroup dropped their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Finally, Jefferies Financial Group began coverage on shares of Regal Rexnord in a research note on Thursday, December 12th. They set a “buy” rating and a $215.00 price objective on the stock. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Regal Rexnord presently has an average rating of “Moderate Buy” and a consensus target price of $195.75.

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.