New Age Alpha Advisors LLC Purchases Shares of 41,427 Regal Rexnord Co. (NYSE:RRX)

New Age Alpha Advisors LLC bought a new stake in Regal Rexnord Co. (NYSE:RRX) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 41,427 shares of the company’s stock, valued at approximately $6,427,000. New Age Alpha Advisors LLC owned approximately 0.06% of Regal Rexnord as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its stake in Regal Rexnord by 6.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 436,307 shares of the company’s stock worth $72,375,000 after buying an additional 28,278 shares during the last quarter. Geode Capital Management LLC boosted its position in Regal Rexnord by 0.9% in the third quarter. Geode Capital Management LLC now owns 1,104,090 shares of the company’s stock valued at $183,195,000 after buying an additional 9,338 shares during the last quarter. First Hawaiian Bank purchased a new stake in shares of Regal Rexnord in the 4th quarter valued at $811,000. Franklin Resources Inc. grew its position in Regal Rexnord by 7.2% during the 3rd quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company’s stock worth $204,254,000 after purchasing an additional 77,215 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Regal Rexnord by 1.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 431,774 shares of the company’s stock worth $71,623,000 after acquiring an additional 4,752 shares during the period. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Regal Rexnord Price Performance

Shares of RRX opened at $120.80 on Friday. The company has a market cap of $8.01 billion, a P/E ratio of 40.95, a PEG ratio of 1.37 and a beta of 1.11. Regal Rexnord Co. has a fifty-two week low of $113.73 and a fifty-two week high of $185.28. The company has a quick ratio of 1.25, a current ratio of 2.26 and a debt-to-equity ratio of 0.87. The firm’s 50 day moving average price is $136.83 and its 200 day moving average price is $155.77.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $2.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.56 by ($0.22). Regal Rexnord had a net margin of 3.25% and a return on equity of 9.57%. On average, research analysts forecast that Regal Rexnord Co. will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be paid a $0.35 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.40 dividend on an annualized basis and a yield of 1.16%. Regal Rexnord’s dividend payout ratio is currently 47.46%.

Analyst Upgrades and Downgrades

RRX has been the subject of a number of recent analyst reports. Citigroup cut their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Oppenheimer decreased their price objective on Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. The Goldman Sachs Group boosted their target price on Regal Rexnord from $191.00 to $213.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. StockNews.com cut shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 16th. Finally, Jefferies Financial Group started coverage on Regal Rexnord in a research note on Thursday, December 12th. They set a “buy” rating and a $215.00 target price for the company. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $195.13.

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.