Erste Asset Management GmbH Grows Position in Regal Rexnord Co. (NYSE:RRX)

Erste Asset Management GmbH grew its position in shares of Regal Rexnord Co. (NYSE:RRX) by 1.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 38,012 shares of the company’s stock after acquiring an additional 609 shares during the quarter. Erste Asset Management GmbH’s holdings in Regal Rexnord were worth $5,950,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Point72 Asset Management L.P. bought a new position in shares of Regal Rexnord in the 3rd quarter valued at about $83,460,000. Westfield Capital Management Co. LP raised its position in Regal Rexnord by 68.9% during the third quarter. Westfield Capital Management Co. LP now owns 979,521 shares of the company’s stock valued at $162,483,000 after purchasing an additional 399,649 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Regal Rexnord by 20.1% in the 4th quarter. Victory Capital Management Inc. now owns 2,176,963 shares of the company’s stock valued at $337,712,000 after purchasing an additional 363,728 shares during the last quarter. TimesSquare Capital Management LLC boosted its holdings in shares of Regal Rexnord by 35.7% in the 4th quarter. TimesSquare Capital Management LLC now owns 884,095 shares of the company’s stock worth $137,150,000 after purchasing an additional 232,509 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of Regal Rexnord in the 4th quarter worth approximately $22,325,000. 99.72% of the stock is owned by hedge funds and other institutional investors.

Regal Rexnord Price Performance

Regal Rexnord stock opened at $114.55 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.26 and a quick ratio of 1.25. The stock has a market cap of $7.59 billion, a price-to-earnings ratio of 38.83, a price-to-earnings-growth ratio of 1.37 and a beta of 1.11. The firm has a 50-day moving average of $143.67 and a two-hundred day moving average of $158.49. Regal Rexnord Co. has a 1 year low of $113.73 and a 1 year high of $185.28.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $2.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, research analysts forecast that Regal Rexnord Co. will post 9.95 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date is Monday, March 31st. Regal Rexnord’s payout ratio is 47.46%.

Analyst Upgrades and Downgrades

RRX has been the topic of several recent research reports. Oppenheimer decreased 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. Barclays reduced their target price 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. StockNews.com cut shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 16th. Citigroup reduced 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 report on Tuesday, January 14th. Finally, Jefferies Financial Group assumed coverage on Regal Rexnord in a research report on Thursday, December 12th. They set a “buy” rating and a $215.00 target price for the company. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $195.75.

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.