Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Regal Rexnord Co. (NYSE:RRX – Get Rating) by 8.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,515 shares of the company’s stock after acquiring an additional 659 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Regal Rexnord were worth $1,195,000 as of its most recent SEC filing.
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Several other large investors have also recently modified their holdings of RRX. US Bancorp DE bought a new position in shares of Regal Rexnord during the 1st quarter worth approximately $702,000. Citigroup Inc. bought a new position in shares of Regal Rexnord during the 1st quarter worth approximately $3,124,000. AlphaCrest Capital Management LLC bought a new position in shares of Regal Rexnord during the 1st quarter worth approximately $347,000. Great West Life Assurance Co. Can acquired a new position in Regal Rexnord during the 1st quarter valued at approximately $5,758,000. Finally, Synovus Financial Corp acquired a new position in Regal Rexnord during the 1st quarter valued at approximately $1,608,000. Institutional investors own 99.98% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on RRX. Oppenheimer upped their price target on shares of Regal Rexnord from $180.00 to $190.00 and gave the company an “outperform” rating in a research note on Friday, February 3rd. KeyCorp upped their price target on shares of Regal Rexnord from $172.00 to $184.00 and gave the company an “overweight” rating in a research note on Thursday, February 2nd. Robert W. Baird upped their price target on shares of Regal Rexnord from $167.00 to $188.00 in a research note on Friday, February 3rd. Wolfe Research lowered shares of Regal Rexnord from an “outperform” rating to a “peer perform” rating in a research note on Thursday, December 1st. Finally, Barclays upped their price target on shares of Regal Rexnord from $148.00 to $185.00 in a research note on Sunday, February 5th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Regal Rexnord has an average rating of “Moderate Buy” and a consensus price target of $186.80.
Regal Rexnord Stock Up 3.1 %
RRX stock opened at $161.89 on Thursday. The firm’s fifty day simple moving average is $133.02 and its 200-day simple moving average is $136.24. The company has a market capitalization of $10.71 billion, a P/E ratio of 22.18, a price-to-earnings-growth ratio of 1.47 and a beta of 1.12. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.99 and a quick ratio of 1.66. Regal Rexnord Co. has a 12 month low of $108.28 and a 12 month high of $164.15.
Regal Rexnord (NYSE:RRX – Get Rating) last announced its quarterly earnings results on Wednesday, February 1st. The company reported $2.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.34. Regal Rexnord had a net margin of 9.37% and a return on equity of 11.36%. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the prior year, the firm posted $2.14 earnings per share. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, equities research analysts forecast that Regal Rexnord Co. will post 10.52 earnings per share for the current year.
Regal Rexnord Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, April 14th. Investors of record on Friday, March 31st will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Thursday, March 30th. Regal Rexnord’s dividend payout ratio (DPR) is presently 19.18%.
Regal Rexnord Profile
Regal Rexnord Corp. engages in the manufacture of electric motors, electrical motion controls, power generation, and power transmission products. It operates through the following segments: Commercial Systems, Industrial Systems, Climate Solutions, and Power Transmission Solutions. The Commercial Systems segment produces fractional to 5 horsepower AC and DC motors, electric variable speed controls, fans, and blowers for commercial applications.
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