Victory Capital Management Inc. Boosts Position in Regal Rexnord Co. (NYSE:RRX)

Victory Capital Management Inc. grew its position in Regal Rexnord Co. (NYSE:RRX) by 20.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,176,963 shares of the company’s stock after buying an additional 363,728 shares during the quarter. Victory Capital Management Inc.’s holdings in Regal Rexnord were worth $337,712,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in RRX. Creative Planning raised its position in Regal Rexnord by 11.6% during the third quarter. Creative Planning now owns 3,131 shares of the company’s stock worth $519,000 after acquiring an additional 326 shares during the last quarter. International Assets Investment Management LLC increased its stake in Regal Rexnord by 87,585.7% during the third quarter. International Assets Investment Management LLC now owns 6,138 shares of the company’s stock worth $1,018,000 after acquiring an additional 6,131 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Regal Rexnord by 2.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,616 shares of the company’s stock worth $601,000 after purchasing an additional 95 shares during the period. First Trust Direct Indexing L.P. acquired a new position in shares of Regal Rexnord in the 3rd quarter valued at about $272,000. Finally, Robeco Institutional Asset Management B.V. grew its holdings in shares of Regal Rexnord by 0.9% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 32,427 shares of the company’s stock worth $5,379,000 after purchasing an additional 289 shares during the period. Institutional investors and hedge funds own 99.72% of the company’s stock.

Regal Rexnord Trading Down 3.0 %

Shares of RRX opened at $120.04 on Wednesday. Regal Rexnord Co. has a one year low of $117.18 and a one year high of $185.28. The stock has a 50-day moving average price of $149.48 and a 200 day moving average price of $160.75. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.25 and a current ratio of 2.26. The company has a market capitalization of $7.95 billion, a P/E ratio of 40.69, a P/E/G ratio of 1.37 and a beta of 1.03.

Regal Rexnord (NYSE:RRX) last released its earnings results on Wednesday, February 5th. The company reported $2.34 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%. Sell-side analysts forecast that Regal Rexnord Co. will post 9.95 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend is Monday, March 31st. Regal Rexnord’s payout ratio is currently 47.46%.

Analyst Ratings Changes

Several research analysts recently commented on RRX shares. The Goldman Sachs Group raised their price target on shares of Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Oppenheimer reduced their target price on shares of Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Robert W. Baird decreased their price target on shares of Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Citigroup cut their price objective 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. Finally, 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 target price for the company. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $197.75.

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.