HighTower Advisors LLC Boosts Stake in Regal Rexnord Co. (NYSE:RRX)

HighTower Advisors LLC grew its stake in Regal Rexnord Co. (NYSE:RRX) by 34.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,306 shares of the company’s stock after acquiring an additional 855 shares during the quarter. HighTower Advisors LLC’s holdings in Regal Rexnord were worth $513,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in RRX. Point72 Asset Management L.P. bought a new position in Regal Rexnord in the third quarter worth about $83,460,000. Victory Capital Management Inc. lifted its position in Regal Rexnord by 20.1% during the fourth quarter. Victory Capital Management Inc. now owns 2,176,963 shares of the company’s stock valued at $337,712,000 after acquiring an additional 363,728 shares during the last quarter. TimesSquare Capital Management LLC boosted its stake in Regal Rexnord by 35.7% in the fourth quarter. TimesSquare Capital Management LLC now owns 884,095 shares of the company’s stock valued at $137,150,000 after acquiring an additional 232,509 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Regal Rexnord in the fourth quarter worth $22,325,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Regal Rexnord by 6.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,289,917 shares of the company’s stock worth $213,971,000 after purchasing an additional 83,823 shares in the last quarter. 99.72% of the stock is owned by institutional investors.

Regal Rexnord Stock Performance

RRX opened at $118.03 on Monday. The company has a current ratio of 2.26, a quick ratio of 1.25 and a debt-to-equity ratio of 0.87. Regal Rexnord Co. has a 12-month low of $113.73 and a 12-month high of $185.28. The firm has a 50 day moving average of $136.06 and a two-hundred day moving average of $155.67. The firm has a market capitalization of $7.82 billion, a PE ratio of 40.01, a P/E/G ratio of 1.37 and a beta of 1.11.

Regal Rexnord (NYSE:RRX) last issued its earnings results 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%. On average, analysts anticipate that Regal Rexnord Co. will post 9.95 EPS for the current year.

Regal Rexnord Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be paid a $0.35 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.19%. Regal Rexnord’s payout ratio is 47.46%.

Wall Street Analyst Weigh In

RRX has been the subject of a number of recent analyst reports. Citigroup lowered their price objective on Regal Rexnord from $210.00 to $190.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Oppenheimer lowered their price target on Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Jefferies Financial Group started coverage on shares of Regal Rexnord in a report on Thursday, December 12th. They set a “buy” rating and a $215.00 price objective on the stock. Barclays lowered their target price on shares of Regal Rexnord from $160.00 to $155.00 and set an “overweight” rating for the company in a research note on Wednesday, March 26th. Finally, The Goldman Sachs Group boosted their target price on shares of Regal Rexnord from $191.00 to $213.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Regal Rexnord currently has an average rating of “Moderate Buy” and a consensus price target of $195.13.

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.