Pictet Asset Management Holding SA Buys 1,104 Shares of Regal Rexnord Co. (NYSE:RRX)

Pictet Asset Management Holding SA grew its stake in shares of Regal Rexnord Co. (NYSE:RRX) by 13.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,323 shares of the company’s stock after acquiring an additional 1,104 shares during the period. Pictet Asset Management Holding SA’s holdings in Regal Rexnord were worth $1,446,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. JPMorgan Chase & Co. grew its holdings in Regal Rexnord by 6.9% during the third quarter. JPMorgan Chase & Co. now owns 436,307 shares of the company’s stock valued at $72,375,000 after purchasing an additional 28,278 shares during the period. Geode Capital Management LLC grew its stake in shares of Regal Rexnord by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,104,090 shares of the company’s stock worth $183,195,000 after acquiring an additional 9,338 shares during the period. First Hawaiian Bank purchased a new stake in Regal Rexnord in the 4th quarter worth about $811,000. Franklin Resources Inc. raised its stake in Regal Rexnord by 7.2% in the 3rd quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company’s stock valued at $204,254,000 after acquiring an additional 77,215 shares during the period. Finally, Atria Investments Inc lifted its holdings in Regal Rexnord by 48.9% during the fourth quarter. Atria Investments Inc now owns 2,310 shares of the company’s stock valued at $358,000 after purchasing an additional 759 shares during the last quarter. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on RRX. StockNews.com lowered shares of Regal Rexnord from a “buy” rating to a “hold” rating in a research report on Monday, March 31st. Jefferies Financial Group started coverage on Regal Rexnord in a research report on Thursday, December 12th. They set a “buy” rating and a $215.00 target price on the stock. Barclays reduced their price target on Regal Rexnord from $160.00 to $155.00 and set an “overweight” rating for the company in a research report on Wednesday, March 26th. The Goldman Sachs Group dropped their price objective on Regal Rexnord from $183.00 to $163.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Oppenheimer reduced their target price on Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $188.88.

Regal Rexnord Stock Down 3.8 %

Shares of NYSE RRX opened at $98.77 on Friday. The company has a current ratio of 2.26, a quick ratio of 1.25 and a debt-to-equity ratio of 0.87. The business has a 50-day moving average of $130.83 and a 200-day moving average of $154.08. The firm has a market capitalization of $6.55 billion, a price-to-earnings ratio of 33.48, a PEG ratio of 1.37 and a beta of 1.09. Regal Rexnord Co. has a 12 month low of $92.50 and a 12 month high of $185.28.

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

Regal Rexnord Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Stockholders 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 dividend yield of 1.42%. The ex-dividend date of this dividend is Monday, March 31st. Regal Rexnord’s payout ratio is currently 47.46%.

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.