First Trust Advisors LP lifted its position in shares of Regal Rexnord Co. (NYSE:RRX – Get Rating) by 12.5% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 94,547 shares of the company's stock after buying an additional 10,519 shares during the quarter. First Trust Advisors LP owned approximately 0.14% of Regal Rexnord worth $13,270,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Symmetry Partners LLC lifted its stake in shares of Regal Rexnord by 10.7% during the 3rd quarter. Symmetry Partners LLC now owns 5,518 shares of the company's stock valued at $775,000 after buying an additional 534 shares in the last quarter. Toronto Dominion Bank increased its holdings in Regal Rexnord by 17.7% in the 3rd quarter. Toronto Dominion Bank now owns 2,768 shares of the company's stock valued at $386,000 after acquiring an additional 417 shares during the last quarter. Sei Investments Co. increased its holdings in Regal Rexnord by 95.7% in the 2nd quarter. Sei Investments Co. now owns 95,329 shares of the company's stock valued at $10,812,000 after acquiring an additional 46,626 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Regal Rexnord by 8.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,515 shares of the company's stock valued at $1,195,000 after acquiring an additional 659 shares during the last quarter. Finally, FORA Capital LLC increased its holdings in Regal Rexnord by 57.2% in the 2nd quarter. FORA Capital LLC now owns 5,502 shares of the company's stock valued at $625,000 after acquiring an additional 2,002 shares during the last quarter. Hedge funds and other institutional investors own 99.98% of the company's stock.
Get Regal Rexnord alerts:Wall Street Analyst Weigh In
A number of analysts have issued reports on RRX shares. Wolfe Research downgraded shares of Regal Rexnord from an "outperform" rating to a "peer perform" rating in a report on Thursday, December 1st. Barclays lifted their price target on shares of Regal Rexnord from $148.00 to $185.00 in a report on Sunday, February 5th. Robert W. Baird lifted their price target on shares of Regal Rexnord from $167.00 to $188.00 in a report on Friday, February 3rd. Oppenheimer lifted their price target on shares of Regal Rexnord from $180.00 to $190.00 and gave the company an "outperform" rating in a report on Friday, February 3rd. Finally, KeyCorp boosted their target price on shares of Regal Rexnord from $172.00 to $184.00 and gave the stock an "overweight" rating in a report on Thursday, February 2nd. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $186.80.
Regal Rexnord Stock Performance
Regal Rexnord stock opened at $150.92 on Friday. The company's 50-day moving average price is $145.85 and its 200-day moving average price is $138.13. Regal Rexnord Co. has a twelve month low of $108.28 and a twelve month high of $164.15. The company has a quick ratio of 1.66, a current ratio of 2.99 and a debt-to-equity ratio of 0.31. The company has a market cap of $10.00 billion, a PE ratio of 20.67, a price-to-earnings-growth ratio of 1.43 and a beta of 1.08.
Regal Rexnord (NYSE:RRX – Get Rating) last issued its quarterly earnings results on Wednesday, February 1st. The company reported $2.64 EPS for the quarter, beating the consensus estimate of $2.30 by $0.34. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.26 billion. Regal Rexnord had a net margin of 9.37% and a return on equity of 11.36%. The firm's revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.14 EPS. On average, equities research analysts forecast that Regal Rexnord Co. will post 10.52 EPS for the current fiscal year.
Regal Rexnord Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, April 14th. Investors of record on Friday, March 31st will be issued a dividend of $0.35 per share. The ex-dividend date is Thursday, March 30th. This represents a $1.40 annualized dividend and a yield of 0.93%. Regal Rexnord's payout ratio is 19.18%.
About Regal Rexnord
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Regal Rexnord Corp. engages in the manufacture of electric motors, electrical motion controls, power generation, and power transmission products. It operates through the following segments: Commercial Systems, Industrial Systems, Climate Solutions, and Power Transmission Solutions. The Commercial Systems segment produces fractional to 5 horsepower AC and DC motors, electric variable speed controls, fans, and blowers for commercial applications.
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