Clearbridge Investments LLC Purchases 56,590 Shares of Regal Rexnord Co. (NYSE:RRX)

Clearbridge Investments LLC raised its position in Regal Rexnord Co. (NYSE:RRX) by 10.1% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 617,762 shares of the company’s stock after acquiring an additional 56,590 shares during the period. Clearbridge Investments LLC’s holdings in Regal Rexnord were worth $95,833,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Skandinaviska Enskilda Banken AB publ grew its position in Regal Rexnord by 472.4% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company’s stock valued at $25,000 after purchasing an additional 137 shares during the period. Tobam acquired a new position in shares of Regal Rexnord during the fourth quarter valued at about $45,000. Jones Financial Companies Lllp increased its position in shares of Regal Rexnord by 90.5% during the fourth quarter. Jones Financial Companies Lllp now owns 322 shares of the company’s stock worth $50,000 after acquiring an additional 153 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings 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 worth $52,000 after acquiring an additional 105 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its position in Regal Rexnord by 30.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company’s stock valued at $71,000 after acquiring an additional 100 shares in the last quarter. Institutional investors own 99.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. The Goldman Sachs Group boosted their price objective on Regal Rexnord from $191.00 to $213.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. StockNews.com lowered Regal Rexnord from a “buy” rating to a “hold” rating in a research report on Monday. Jefferies Financial Group began 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. Barclays reduced their price objective on shares of Regal Rexnord from $160.00 to $155.00 and set an “overweight” rating for the company in a research report on Wednesday, March 26th. Finally, Citigroup dropped their target price on shares of Regal Rexnord from $210.00 to $190.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $195.13.

Regal Rexnord Price Performance

NYSE RRX opened at $113.80 on Tuesday. The company has a market cap of $7.54 billion, a PE ratio of 38.57, a price-to-earnings-growth ratio of 1.37 and a beta of 1.11. The firm’s 50-day simple moving average is $135.21 and its two-hundred day simple moving average is $155.42. Regal Rexnord Co. has a 52 week low of $111.15 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.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings results on Wednesday, February 5th. The company reported $2.34 earnings per share 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 predict that Regal Rexnord Co. will post 9.95 earnings per share for the current year.

Regal Rexnord Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.40 annualized dividend and a yield of 1.23%. Regal Rexnord’s 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.