Capital World Investors Has $932.94 Million Stock Position in Regal Rexnord Co. (NYSE:RRX)

Capital World Investors grew its stake in Regal Rexnord Co. (NYSE:RRX) by 0.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,302,811 shares of the company’s stock after buying an additional 8,706 shares during the quarter. Capital World Investors owned 9.50% of Regal Rexnord worth $932,942,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in RRX. Private Advisor Group LLC bought a new position in Regal Rexnord during the 3rd quarter worth about $202,000. Victory Capital Management Inc. grew its holdings in shares of Regal Rexnord by 8.9% during the third quarter. Victory Capital Management Inc. now owns 60,888 shares of the company’s stock worth $8,700,000 after buying an additional 4,981 shares in the last quarter. Jump Financial LLC acquired a new stake in Regal Rexnord in the 3rd quarter valued at approximately $361,000. New York Life Investment Management LLC lifted its stake in Regal Rexnord by 112.3% in the 3rd quarter. New York Life Investment Management LLC now owns 7,005 shares of the company’s stock valued at $1,001,000 after acquiring an additional 3,706 shares in the last quarter. Finally, Amalgamated Bank boosted its position in Regal Rexnord by 5.5% during the 3rd quarter. Amalgamated Bank now owns 45,856 shares of the company’s stock worth $6,552,000 after acquiring an additional 2,406 shares during the last quarter. Institutional investors own 99.72% of the company’s stock.

Regal Rexnord Stock Up 1.8 %

RRX traded up $2.58 during midday trading on Wednesday, reaching $142.71. 407,577 shares of the company were exchanged, compared to its average volume of 450,217. Regal Rexnord Co. has a one year low of $97.18 and a one year high of $183.85. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.56 and a current ratio of 2.62. The company’s fifty day moving average price is $162.01 and its 200 day moving average price is $152.52. The company has a market cap of $9.49 billion, a price-to-earnings ratio of -291.98, a price-to-earnings-growth ratio of 1.49 and a beta of 1.10.

Regal Rexnord (NYSE:RRX) last announced its earnings results on Monday, May 6th. The company reported $2.00 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.02. Regal Rexnord had a positive return on equity of 9.42% and a negative net margin of 0.48%. The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the previous year, the business earned $2.22 EPS. The company’s revenue was up 26.4% compared to the same quarter last year. As a group, analysts expect that Regal Rexnord Co. will post 9.82 EPS for the current year.

Regal Rexnord Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend is Friday, June 28th. Regal Rexnord’s dividend payout ratio (DPR) is -291.67%.

Analyst Ratings Changes

A number of analysts have recently issued reports on RRX shares. Oppenheimer lifted their price objective on shares of Regal Rexnord from $185.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, March 13th. Robert W. Baird increased their price objective on shares of Regal Rexnord from $205.00 to $208.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 8th. KeyCorp raised their price target on Regal Rexnord from $180.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, March 25th. StockNews.com raised Regal Rexnord from a “hold” rating to a “buy” rating in a report on Wednesday, May 29th. Finally, Barclays lowered their target price on shares of Regal Rexnord from $199.00 to $181.00 and set an “overweight” rating on the stock in a report on Tuesday. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $192.00.

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.