Natixis Advisors LLC Raises Stake in Regal Rexnord Co. (NYSE:RRX)

Natixis Advisors LLC boosted its holdings in Regal Rexnord Co. (NYSE:RRX) by 3.1% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 89,606 shares of the company’s stock after buying an additional 2,673 shares during the period. Natixis Advisors LLC owned approximately 0.14% of Regal Rexnord worth $13,901,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. CIBC Asset Management Inc boosted its position in shares of Regal Rexnord by 3.2% in the third quarter. CIBC Asset Management Inc now owns 1,960 shares of the company’s stock worth $325,000 after buying an additional 61 shares during the period. iA Global Asset Management Inc. boosted its holdings in Regal Rexnord by 2.7% in the 3rd quarter. iA Global Asset Management Inc. now owns 2,626 shares of the company’s stock worth $436,000 after acquiring an additional 68 shares during the period. Bank Julius Baer & Co. Ltd Zurich grew its position in Regal Rexnord by 7.4% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,111 shares of the company’s stock valued at $190,000 after acquiring an additional 77 shares in the last quarter. Moors & Cabot Inc. grew its position in Regal Rexnord by 4.1% in the fourth quarter. Moors & Cabot Inc. now owns 2,139 shares of the company’s stock valued at $332,000 after acquiring an additional 85 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its stake in shares of 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 purchasing an additional 100 shares during the period. 99.72% of the stock is owned by institutional investors and hedge funds.

Regal Rexnord Stock Performance

RRX stock opened at $123.50 on Thursday. The stock’s 50 day simple moving average is $140.64 and its 200 day simple moving average is $157.13. Regal Rexnord Co. has a 12-month low of $113.73 and a 12-month high of $185.28. The firm has a market cap of $8.18 billion, a P/E ratio of 41.86, a P/E/G ratio of 1.37 and a beta of 1.11. The company has a current ratio of 2.26, a quick ratio of 1.25 and a debt-to-equity ratio of 0.87.

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 return on equity of 9.57% and a net margin of 3.25%. As a group, equities research analysts predict that Regal Rexnord Co. will post 9.95 EPS for the current year.

Regal Rexnord Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be issued 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 1.13%. 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. Oppenheimer lowered their price target on shares of Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Citigroup dropped their target price on Regal Rexnord from $210.00 to $190.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Barclays reduced their price target on Regal Rexnord from $176.00 to $160.00 and set an “overweight” rating for the company in a report on Monday, March 10th. StockNews.com downgraded Regal Rexnord from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 16th. Finally, Jefferies Financial Group initiated 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 investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Regal Rexnord has a consensus rating of “Moderate Buy” and an average price target of $195.75.

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.