Cramer Rosenthal Mcglynn LLC Increases Stake in Regal Rexnord Co. (NYSE:RRX)

Cramer Rosenthal Mcglynn LLC lifted its holdings in Regal Rexnord Co. (NYSE:RRX) by 11.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 246,493 shares of the company’s stock after buying an additional 25,642 shares during the quarter. Regal Rexnord comprises 2.2% of Cramer Rosenthal Mcglynn LLC’s portfolio, making the stock its 6th biggest holding. Cramer Rosenthal Mcglynn LLC owned about 0.37% of Regal Rexnord worth $38,238,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Skandinaviska Enskilda Banken AB publ lifted its holdings in Regal Rexnord by 472.4% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company’s stock valued at $25,000 after buying an additional 137 shares during the period. Bernard Wealth Management Corp. bought a new stake in Regal Rexnord in the fourth quarter valued at about $30,000. Aster Capital Management DIFC Ltd acquired a new position in Regal Rexnord in the fourth quarter valued at about $33,000. Tobam acquired a new position in shares of Regal Rexnord during the 4th quarter worth about $45,000. Finally, Jones Financial Companies Lllp raised its position in shares of Regal Rexnord by 90.5% in the 4th quarter. Jones Financial Companies Lllp now owns 322 shares of the company’s stock valued at $50,000 after acquiring an additional 153 shares during the period. Institutional investors and hedge funds own 99.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented 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. The Goldman Sachs Group cut 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, April 2nd. Citigroup reduced their price target on shares of Regal Rexnord from $170.00 to $110.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. KeyCorp cut their price objective on shares of Regal Rexnord from $180.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Finally, StockNews.com cut Regal Rexnord from a “buy” rating to a “hold” rating in a report on Wednesday. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $170.75.

Regal Rexnord Trading Up 1.8 %

Shares of RRX opened at $98.38 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.25 and a current ratio of 2.26. Regal Rexnord Co. has a 52-week low of $90.56 and a 52-week high of $185.28. The firm has a market cap of $6.52 billion, a price-to-earnings ratio of 33.35, a PEG ratio of 1.37 and a beta of 1.09. The business’s fifty day moving average is $118.86 and its 200-day moving average is $149.02.

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

Regal Rexnord Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 14th. Stockholders of record on Monday, March 31st were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.42%. The ex-dividend date was Monday, March 31st. Regal Rexnord’s payout ratio is currently 47.46%.

About Regal Rexnord

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.