HighTower Advisors LLC Grows Holdings in Regal Rexnord Co. (NYSE:RRX)

HighTower Advisors LLC grew its position in Regal Rexnord Co. (NYSE:RRX) by 34.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,306 shares of the company’s stock after acquiring an additional 855 shares during the period. HighTower Advisors LLC’s holdings in Regal Rexnord were worth $513,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of RRX. Tobam acquired a new stake in Regal Rexnord in the 4th quarter valued at $45,000. Jones Financial Companies Lllp lifted its holdings in Regal Rexnord by 90.5% during the fourth quarter. Jones Financial Companies Lllp now owns 322 shares of the company’s stock valued at $50,000 after purchasing an additional 153 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of Regal Rexnord by 45.3% in the fourth 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. increased its stake in shares of Regal Rexnord by 30.3% during the third quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company’s stock worth $71,000 after purchasing an additional 100 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC raised its position in shares of Regal Rexnord by 335.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 622 shares of the company’s stock worth $97,000 after purchasing an additional 479 shares during the last quarter. 99.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Jefferies Financial Group initiated coverage on Regal Rexnord in a report on Thursday, December 12th. They issued a “buy” rating and a $215.00 price objective on the stock. The Goldman Sachs Group lifted their price target on Regal Rexnord from $191.00 to $213.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. StockNews.com downgraded Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 16th. Oppenheimer lowered 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 note on Friday, February 7th. Finally, Citigroup reduced 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 report on Tuesday, January 14th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $195.13.

Regal Rexnord Stock Down 2.3 %

Shares of RRX opened at $118.03 on Monday. Regal Rexnord Co. has a 52-week low of $113.73 and a 52-week 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 stock has a fifty day simple moving average of $136.06 and a two-hundred day simple moving average of $155.67. The company has a market capitalization of $7.82 billion, a PE ratio of 40.01, a price-to-earnings-growth ratio of 1.37 and a beta of 1.11.

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%. As a group, equities analysts forecast that Regal Rexnord Co. will post 9.95 EPS for the current year.

Regal Rexnord Dividend Announcement

The firm 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 $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date is Monday, March 31st. Regal Rexnord’s dividend payout ratio is presently 47.46%.

Regal Rexnord Company 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.