Victory Capital Management Inc. Increases Stock Holdings in Regal Rexnord Co. (NYSE:RRX)

Victory Capital Management Inc. grew its stake in Regal Rexnord Co. (NYSE:RRX) by 20.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,176,963 shares of the company’s stock after buying an additional 363,728 shares during the period. Victory Capital Management Inc. owned 3.29% of Regal Rexnord worth $337,712,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Tobam acquired a new position in Regal Rexnord in the fourth quarter valued at $45,000. Jones Financial Companies Lllp lifted its holdings 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 last quarter. Smartleaf Asset Management LLC boosted its position in shares of Regal Rexnord by 45.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 337 shares of the company’s stock valued at $52,000 after purchasing an additional 105 shares during the period. Nomura Asset Management Co. Ltd. grew its stake in Regal Rexnord by 30.3% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company’s stock worth $71,000 after buying an additional 100 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC increased its position in Regal Rexnord by 335.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 622 shares of the company’s stock worth $97,000 after buying an additional 479 shares during the period. 99.72% of the stock is owned by hedge funds and other institutional investors.

Regal Rexnord Stock Performance

NYSE RRX opened at $120.04 on Wednesday. The stock has a market capitalization of $7.95 billion, a price-to-earnings ratio of 40.69, a PEG ratio of 1.37 and a beta of 1.03. The business’s 50 day moving average is $149.48 and its two-hundred day moving average is $160.75. Regal Rexnord Co. has a 12-month low of $117.18 and a 12-month high of $185.28. The company has a current ratio of 2.26, a quick ratio of 1.25 and a debt-to-equity ratio of 0.87.

Regal Rexnord (NYSE:RRX) last released 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 return on equity of 9.57% and a net margin of 3.25%. Research analysts expect that Regal Rexnord Co. will post 9.95 EPS for the current year.

Regal Rexnord Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Monday, March 31st. Regal Rexnord’s dividend payout ratio is currently 47.46%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. StockNews.com downgraded Regal Rexnord from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 16th. Jefferies Financial Group started coverage on shares of Regal Rexnord in a research report on Thursday, December 12th. They set a “buy” rating and a $215.00 price objective on the stock. Robert W. Baird dropped their price objective on shares of Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Citigroup decreased their target price on shares of Regal Rexnord from $210.00 to $190.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Finally, Oppenheimer dropped their price target 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. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $197.75.

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.