Regal Rexnord Co. (NYSE:RRX) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Regal Rexnord Co. (NYSE:RRX) by 16.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,844 shares of the company’s stock after purchasing an additional 2,414 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Regal Rexnord were worth $2,613,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Point72 Asset Management L.P. purchased a new stake in Regal Rexnord in the 3rd quarter worth $83,460,000. Westfield Capital Management Co. LP increased its holdings in Regal Rexnord by 68.9% in the 3rd quarter. Westfield Capital Management Co. LP now owns 979,521 shares of the company’s stock worth $162,483,000 after acquiring an additional 399,649 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Regal Rexnord by 20.1% in the 4th quarter. Victory Capital Management Inc. now owns 2,176,963 shares of the company’s stock worth $337,712,000 after acquiring an additional 363,728 shares in the last quarter. TimesSquare Capital Management LLC increased its holdings in Regal Rexnord by 35.7% in the 4th quarter. TimesSquare Capital Management LLC now owns 884,095 shares of the company’s stock worth $137,150,000 after acquiring an additional 232,509 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Regal Rexnord in the 4th quarter worth $22,325,000. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Regal Rexnord Trading Up 1.3 %

Shares of RRX opened at $116.44 on Monday. 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 Co. has a 12-month low of $113.73 and a 12-month high of $185.28. The firm has a 50-day moving average price of $142.83 and a 200 day moving average price of $158.04. The firm has a market capitalization of $7.72 billion, a P/E ratio of 39.47, a P/E/G ratio of 1.37 and a beta of 1.11.

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 analysts’ consensus estimates 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 year.

Regal Rexnord Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be given 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 1.20%. Regal Rexnord’s payout ratio is currently 47.46%.

Analyst Upgrades and Downgrades

RRX has been the subject of several recent analyst reports. Citigroup cut their price target 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 cut 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. Barclays dropped their target price on shares of Regal Rexnord from $176.00 to $160.00 and set an “overweight” rating for the company in a report on Monday, March 10th. The Goldman Sachs Group upped their target price on shares of Regal Rexnord from $191.00 to $213.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Finally, Jefferies Financial Group initiated coverage on shares of Regal Rexnord in a report on Thursday, December 12th. They set a “buy” rating and a $215.00 target price for the company. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Regal Rexnord has an average 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.