Wealthspire Advisors LLC Increases Holdings in Regal Rexnord Co. (NYSE:RRX)

Wealthspire Advisors LLC lifted its position in Regal Rexnord Co. (NYSE:RRX) by 6.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,443 shares of the company’s stock after purchasing an additional 144 shares during the quarter. Wealthspire Advisors LLC’s holdings in Regal Rexnord were worth $379,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of RRX. Tobam purchased a new position in Regal Rexnord during the fourth quarter valued at approximately $45,000. Nomura Asset Management Co. Ltd. raised its position in Regal Rexnord by 30.3% during the third quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company’s stock valued at $71,000 after acquiring an additional 100 shares in the last quarter. 1620 Investment Advisors Inc. raised its position in Regal Rexnord by 17.4% during the third quarter. 1620 Investment Advisors Inc. now owns 452 shares of the company’s stock valued at $75,000 after acquiring an additional 67 shares in the last quarter. GAMMA Investing LLC raised its position in Regal Rexnord by 28.3% during the fourth quarter. GAMMA Investing LLC now owns 1,079 shares of the company’s stock valued at $167,000 after acquiring an additional 238 shares in the last quarter. Finally, Weatherly Asset Management L. P. purchased a new position in Regal Rexnord during the third quarter valued at approximately $180,000. 99.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on RRX shares. StockNews.com cut Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 16th. The Goldman Sachs Group lifted their price target on Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Barclays cut their price objective on Regal Rexnord from $190.00 to $176.00 and set an “overweight” rating for the company in a research report on Friday, February 14th. Jefferies Financial Group started coverage on Regal Rexnord in a research report on Thursday, December 12th. They issued a “buy” rating and a $215.00 price objective for the company. Finally, Robert W. Baird cut their price objective on Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $197.75.

Regal Rexnord Stock Performance

Shares of NYSE:RRX opened at $134.25 on Thursday. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.26 and a quick ratio of 1.25. The business’s 50 day moving average price is $151.63 and its 200-day moving average price is $161.46. The firm has a market capitalization of $8.89 billion, a PE ratio of 45.51, a P/E/G ratio of 1.37 and a beta of 1.03. Regal Rexnord Co. has a 1 year low of $128.95 and a 1 year high of $185.28.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $2.34 earnings per share (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%. As a group, equities research 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 declared 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. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend is Monday, March 31st. Regal Rexnord’s dividend payout ratio is presently 47.46%.

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.