JPMorgan Chase & Co. Buys 247,673 Shares of Regal Rexnord Co. (NYSE:RRX)

JPMorgan Chase & Co. boosted its position in shares of Regal Rexnord Co. (NYSE:RRX) by 56.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 683,980 shares of the company’s stock after acquiring an additional 247,673 shares during the period. JPMorgan Chase & Co.’s holdings in Regal Rexnord were worth $106,106,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Skandinaviska Enskilda Banken AB publ grew its holdings in shares of Regal Rexnord by 472.4% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company’s stock worth $25,000 after buying an additional 137 shares in the last quarter. Tobam bought a new position in shares of Regal Rexnord during the 4th quarter worth approximately $45,000. Jones Financial Companies Lllp raised its holdings in shares of Regal Rexnord by 90.5% in 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 during the last quarter. Smartleaf Asset Management LLC lifted 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 worth $52,000 after purchasing an additional 105 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its holdings in 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 during the last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.

Regal Rexnord Trading Up 6.2 %

RRX stock opened at $121.80 on Thursday. Regal Rexnord Co. has a one year low of $111.15 and a one year high of $185.28. The stock has a market cap of $8.07 billion, a price-to-earnings ratio of 41.29, a price-to-earnings-growth ratio of 1.37 and a beta of 1.11. The company has a fifty day moving average price of $133.45 and a two-hundred day moving average price of $154.90. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.26 and a quick ratio of 1.25.

Regal Rexnord (NYSE:RRX) last announced its earnings results 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 return on equity of 9.57% and a net margin of 3.25%. Equities analysts anticipate that Regal Rexnord Co. will post 9.95 EPS for the current year.

Regal Rexnord Announces Dividend

The company also recently declared 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. The ex-dividend date is Monday, March 31st. This represents a $1.40 annualized dividend and a yield of 1.15%. Regal Rexnord’s payout ratio is currently 47.46%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on RRX shares. Citigroup lowered their price target on shares of Regal Rexnord from $210.00 to $190.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. The Goldman Sachs Group dropped their target price on Regal Rexnord from $183.00 to $163.00 and set a “buy” rating on the stock in a report on Wednesday. Barclays decreased their price target on Regal Rexnord from $160.00 to $155.00 and set an “overweight” rating for the company in a research note on Wednesday, March 26th. Jefferies Financial Group initiated coverage on Regal Rexnord in a research note on Thursday, December 12th. They set a “buy” rating and a $215.00 price objective on the stock. Finally, StockNews.com downgraded shares of Regal Rexnord from a “buy” rating to a “hold” rating in a report on Monday. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $188.88.

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.