Proficio Capital Partners LLC Invests $6.07 Million in Regal Rexnord Co. (NYSE:RRX)

Proficio Capital Partners LLC acquired a new position in Regal Rexnord Co. (NYSE:RRX) in the fourth quarter, HoldingsChannel reports. The firm acquired 39,122 shares of the company’s stock, valued at approximately $6,069,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its holdings in Regal Rexnord by 20.1% during the 4th quarter. Victory Capital Management Inc. now owns 2,176,963 shares of the company’s stock valued at $337,712,000 after buying an additional 363,728 shares during the last quarter. State Street Corp raised its holdings in Regal Rexnord by 1.3% during the 3rd quarter. State Street Corp now owns 1,972,866 shares of the company’s stock valued at $327,944,000 after buying an additional 24,860 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Regal Rexnord by 6.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,289,917 shares of the company’s stock valued at $213,971,000 after buying an additional 83,823 shares during the last quarter. Franklin Resources Inc. raised its holdings in Regal Rexnord by 7.2% during the 3rd quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company’s stock valued at $204,254,000 after buying an additional 77,215 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in Regal Rexnord by 1.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,137,746 shares of the company’s stock valued at $188,729,000 after buying an additional 12,301 shares during the last quarter. 99.72% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

RRX has been the topic of a number of research analyst reports. Oppenheimer reduced their price objective 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. Barclays reduced 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 report on Monday, March 10th. Jefferies Financial Group initiated 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. The Goldman Sachs Group boosted their price objective on shares of Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Finally, StockNews.com downgraded shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 16th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $195.75.

Regal Rexnord Stock Performance

Shares of RRX stock opened at $116.44 on Monday. Regal Rexnord Co. has a one year low of $113.73 and a one year high of $185.28. The company’s 50-day moving average is $142.83 and its 200 day moving average is $158.04. The company has a market capitalization 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. 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 (NYSE:RRX) last announced its quarterly earnings data 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 net margin of 3.25% and a return on equity of 9.57%. Sell-side analysts expect that Regal Rexnord Co. will post 9.95 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

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

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.