TimesSquare Capital Management LLC Acquires 232,509 Shares of Regal Rexnord Co. (NYSE:RRX)

TimesSquare Capital Management LLC raised its holdings in Regal Rexnord Co. (NYSE:RRX) by 35.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 884,095 shares of the company’s stock after buying an additional 232,509 shares during the quarter. Regal Rexnord accounts for about 2.0% of TimesSquare Capital Management LLC’s investment portfolio, making the stock its 3rd largest position. TimesSquare Capital Management LLC owned about 1.33% of Regal Rexnord worth $137,150,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Creative Planning lifted its position in shares of Regal Rexnord by 11.6% in the 3rd quarter. Creative Planning now owns 3,131 shares of the company’s stock worth $519,000 after acquiring an additional 326 shares during the period. Bleakley Financial Group LLC bought a new stake in shares of Regal Rexnord in the 3rd quarter worth approximately $219,000. Blue Trust Inc. lifted its position in shares of Regal Rexnord by 28.7% in the 3rd quarter. Blue Trust Inc. now owns 4,225 shares of the company’s stock worth $701,000 after acquiring an additional 943 shares during the period. Raymond James & Associates lifted its position in shares of Regal Rexnord by 1.1% in the 3rd quarter. Raymond James & Associates now owns 116,222 shares of the company’s stock worth $19,279,000 after acquiring an additional 1,274 shares during the period. Finally, Greenleaf Trust lifted its position in shares of Regal Rexnord by 3.4% in the 3rd quarter. Greenleaf Trust now owns 5,064 shares of the company’s stock worth $840,000 after acquiring an additional 166 shares during the period. Institutional investors and hedge funds own 99.72% of the company’s stock.

Analyst Ratings Changes

RRX has been the subject of a number of research reports. The Goldman Sachs Group raised their price objective on Regal Rexnord from $191.00 to $213.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Barclays reduced their price objective on Regal Rexnord from $190.00 to $176.00 and set an “overweight” rating for the company in a research report on Friday, February 14th. Citigroup cut their target price on Regal Rexnord from $210.00 to $190.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Oppenheimer cut their target price on Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Finally, StockNews.com downgraded Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 16th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $197.75.

Regal Rexnord Trading Down 0.4 %

Shares of RRX opened at $136.64 on Wednesday. The stock has a fifty day moving average price of $155.58 and a two-hundred day moving average price of $162.13. 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 52-week low of $130.94 and a 52-week high of $185.28. The company has a market cap of $9.05 billion, a price-to-earnings ratio of 46.32, a PEG ratio of 1.38 and a beta of 1.03.

Regal Rexnord (NYSE:RRX) last issued 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%. Analysts predict that Regal Rexnord Co. will post 9.95 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be paid a $0.35 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.40 annualized dividend and a dividend yield of 1.02%. Regal Rexnord’s dividend payout ratio (DPR) is currently 47.46%.

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.