Capital International Sarl Buys 2,452 Shares of Regal Rexnord Co. (NYSE:RRX)

Capital International Sarl raised its stake in Regal Rexnord Co. (NYSE:RRX) by 12.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,902 shares of the company’s stock after purchasing an additional 2,452 shares during the period. Capital International Sarl’s holdings in Regal Rexnord were worth $4,125,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RRX. Norges Bank bought a new stake in shares of Regal Rexnord during the fourth quarter worth about $180,918,000. The Manufacturers Life Insurance Company increased its position in shares of Regal Rexnord by 167.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 948,346 shares of the company’s stock worth $140,374,000 after acquiring an additional 593,862 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Regal Rexnord by 87.3% during the fourth quarter. Franklin Resources Inc. now owns 1,001,545 shares of the company’s stock worth $148,249,000 after acquiring an additional 466,820 shares in the last quarter. Schroder Investment Management Group bought a new stake in shares of Regal Rexnord during the fourth quarter worth about $49,041,000. Finally, Westfield Capital Management Co. LP purchased a new position in Regal Rexnord during the fourth quarter worth about $37,768,000. 99.72% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on RRX shares. Barclays cut their price target on shares of Regal Rexnord from $199.00 to $181.00 and set an “overweight” rating on the stock in a report on Tuesday, June 4th. Raymond James initiated coverage on shares of Regal Rexnord in a report on Friday, June 28th. They set a “market perform” rating on the stock. Robert W. Baird boosted their target price on shares of Regal Rexnord from $205.00 to $208.00 and gave the company an “outperform” rating in a research note on Wednesday, May 8th. StockNews.com cut shares of Regal Rexnord from a “buy” rating to a “hold” rating in a research note on Thursday, July 4th. Finally, KeyCorp dropped their target price on shares of Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $188.00.

Regal Rexnord Price Performance

Regal Rexnord stock traded up $4.79 during midday trading on Friday, reaching $155.70. 448,568 shares of the stock were exchanged, compared to its average volume of 448,959. The company’s fifty day moving average is $144.21 and its 200-day moving average is $154.39. 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 firm has a market cap of $10.36 billion, a PE ratio of -324.38, a PEG ratio of 1.50 and a beta of 1.06. Regal Rexnord Co. has a 52 week low of $97.18 and a 52 week high of $183.85.

Regal Rexnord (NYSE:RRX) last posted 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. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.56 billion. Regal Rexnord had a negative net margin of 0.48% and a positive return on equity of 9.42%. Regal Rexnord’s revenue was up 26.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.22 EPS. On average, sell-side analysts forecast that Regal Rexnord Co. will post 9.73 EPS for the current year.

Regal Rexnord Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date is Friday, September 27th. Regal Rexnord’s payout ratio is -291.67%.

Regal Rexnord 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.