2 weeks Ago By ABMN Staff
Envestnet Asset Management Inc. grew its stake in Regal Rexnord Co. ( NYSE:RRX – Free Report ) by 10.
9% in the fourth quarter, Holdings Channel reports. The fund owned 74,169 shares of the company’s stock after purchasing an additional 7,275 shares during the period. Envestnet Asset Management Inc.
’s holdings in Regal Rexnord were worth $11,506,000 at the end of the most recent quarter. Several other institutional investors and hedge funds also recently bought and sold shares of the company. HighTower Advisors LLC raised its holdings in Regal Rexnord by 7.
3% in the 3rd quarter. HighTower Advisors LLC now owns 2,451 shares of the company’s stock valued at $403,000 after buying an additional 167 shares during the period. Tidal Investments LLC raised its holdings in Regal Rexnord by 4.
8% during the third quarter. Tidal Investments LLC now owns 7,605 shares of the company’s stock worth $1,262,000 after purchasing an additional 347 shares in the last quarter. Franklin Resources Inc.
grew its holdings in shares of Regal Rexnord by 7.2% during the third quarter. Franklin Resources Inc.
now owns 1,151,440 shares of the company’s stock worth $204,254,000 after purchasing an additional 77,215 shares during the last quarter. American Trust lifted its stake in Regal Rexnord by 11.5% in the third quarter.
American Trust now owns 1,797 shares of the company’s stock valued at $298,000 after buying an additional 185 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in Regal Rexnord by 6.
9% during the 3rd quarter. JPMorgan Chase & Co. now owns 436,307 shares of the company’s stock worth $72,375,000 after purchasing an additional 28,278 shares during the last quarter.
99.72% of the stock is currently owned by institutional investors and hedge funds. Analysts Set New Price Targets Several equities analysts have issued reports on the stock.
StockNews.com cut shares of Regal Rexnord from a “buy” rating to a “hold” rating in a research note on Wednesday. KeyCorp cut their price objective on Regal Rexnord from $180.
00 to $125.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Oppenheimer reduced their price objective on shares of Regal Rexnord from $210.
00 to $190.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. Barclays lowered their target price on shares of Regal Rexnord from $160.
00 to $155.00 and set an “overweight” rating for the company in a report on Wednesday, March 26th. Finally, The Goldman Sachs Group decreased their target price on Regal Rexnord from $183.
00 to $163.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock.
According to data from MarketBeat.com, Regal Rexnord currently has a consensus rating of “Moderate Buy” and a consensus target price of $170.75.
Regal Rexnord Stock Up 1.8 % Shares of Regal Rexnord stock opened at $98.38 on Friday.
The company has a market capitalization of $6.52 billion, a PE ratio of 33.35, a P/E/G ratio of 1.
37 and a beta of 1.09. The company has a debt-to-equity ratio of 0.
87, a current ratio of 2.26 and a quick ratio of 1.25.
The business has a 50-day moving average of $118.86 and a 200-day moving average of $149.02.
Regal Rexnord Co. has a 1-year low of $90.56 and a 1-year high of $185.
28. Regal Rexnord ( NYSE:RRX – Get Free Report ) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $2.
34 earnings per share (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%.
As a group, equities 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 was paid on Monday, April 14th. Shareholders of record on Monday, March 31st were given a $0.35 dividend.
This represents a $1.40 annualized dividend and a yield of 1.42%.
The ex-dividend date was Monday, March 31st. Regal Rexnord’s dividend payout ratio is presently 47.46%.
Regal Rexnord Company Profile ( Free Report ) 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. See Also Want to see what other hedge funds are holding RRX? Visit HoldingsChannel.
com to get the latest 13F filings and insider trades for Regal Rexnord Co. ( NYSE:RRX – Free Report ). Receive News & Ratings for Regal Rexnord Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Regal Rexnord and related companies with MarketBeat.
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