Channing Capital Management LLC Increases Stock Position in Regal Rexnord Co. (NYSE:RRX)

Channing Capital Management LLC lifted its stake in Regal Rexnord Co. (NYSE:RRX) by 27.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 68,422 shares of the company’s stock after acquiring an additional 14,641 shares during the quarter. Channing Capital Management LLC’s holdings in Regal Rexnord were worth $10,614,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in RRX. Tobam acquired a new stake in shares of Regal Rexnord in the fourth quarter valued at $45,000. Jones Financial Companies Lllp grew its position in 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 acquiring an additional 153 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in Regal Rexnord by 45.3% during 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 during the period. Nomura Asset Management Co. Ltd. lifted its position 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 boosted its stake in shares of Regal Rexnord by 335.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 622 shares of the company’s stock valued at $97,000 after purchasing an additional 479 shares during the period. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Wall Street Analyst Weigh In

RRX has been the topic of a number of research reports. Barclays reduced their target price on shares of Regal Rexnord from $176.00 to $160.00 and set an “overweight” rating on the stock in a report on Monday. Oppenheimer lowered their target price on Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Citigroup cut their price target on Regal Rexnord from $210.00 to $190.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. StockNews.com cut Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 16th. Finally, The Goldman Sachs Group upped their target price on shares of Regal Rexnord from $191.00 to $213.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $195.75.

Regal Rexnord Trading Down 4.2 %

NYSE:RRX opened at $117.45 on Tuesday. Regal Rexnord Co. has a 1 year low of $117.05 and a 1 year high of $185.28. The stock has a market cap of $7.78 billion, a P/E ratio of 39.81, a P/E/G 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. The stock has a 50-day simple moving average of $145.90 and a 200-day simple moving average of $159.42.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $2.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.56 by ($0.22). Regal Rexnord had a net margin of 3.25% and a return on equity of 9.57%. As a group, analysts anticipate that Regal Rexnord Co. will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend is Monday, March 31st. Regal Rexnord’s dividend payout ratio (DPR) is 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.