MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Buys 24,794 Shares of Regal Rexnord Co. (NYSE:RRX)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Regal Rexnord Co. (NYSE:RRX) by 5.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 456,541 shares of the company’s stock after purchasing an additional 24,794 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.69% of Regal Rexnord worth $70,823,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Chesley Taft & Associates LLC grew its stake in shares of Regal Rexnord by 5.8% during the fourth quarter. Chesley Taft & Associates LLC now owns 9,095 shares of the company’s stock worth $1,411,000 after buying an additional 500 shares during the last quarter. First Citizens Bank & Trust Co. bought a new stake in Regal Rexnord during the 4th quarter worth $213,000. KBC Group NV grew its position in Regal Rexnord by 1,136.7% during the 4th quarter. KBC Group NV now owns 22,199 shares of the company’s stock worth $3,444,000 after acquiring an additional 20,404 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in Regal Rexnord by 9.4% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 35,485 shares of the company’s stock worth $5,505,000 after purchasing an additional 3,058 shares in the last quarter. Finally, Hantz Financial Services Inc. raised its position in Regal Rexnord by 4.2% in the fourth quarter. Hantz Financial Services Inc. now owns 104,273 shares of the company’s stock valued at $16,176,000 after purchasing an additional 4,157 shares during the last quarter. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on RRX shares. Oppenheimer reduced their price target on Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. The Goldman Sachs Group reduced their target price on shares of Regal Rexnord from $183.00 to $163.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. Citigroup upped their price target on shares of Regal Rexnord from $110.00 to $145.00 and gave the company a “buy” rating in a research report on Thursday, May 8th. StockNews.com lowered shares of Regal Rexnord from a “buy” rating to a “hold” rating in a report on Wednesday, April 16th. Finally, KeyCorp reduced their price objective on shares of Regal Rexnord from $180.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $171.25.

Regal Rexnord Trading Up 8.3%

NYSE:RRX opened at $145.32 on Tuesday. Regal Rexnord Co. has a 52 week low of $90.56 and a 52 week high of $185.28. 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 firm’s fifty day moving average is $112.31 and its 200-day moving average is $142.03. The firm has a market cap of $9.64 billion, a P/E ratio of 49.26, a P/E/G ratio of 1.37 and a beta of 1.11.

Regal Rexnord (NYSE:RRX) last released its earnings results on Monday, May 5th. The company reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.33. Regal Rexnord had a net margin of 3.25% and a return on equity of 9.57%. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the previous year, the business earned $2.00 earnings per share. Regal Rexnord’s revenue for the quarter was down 8.4% on a year-over-year basis. Equities analysts expect that Regal Rexnord Co. will post 9.95 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 14th. Shareholders of record on Monday, June 30th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.96%. The ex-dividend date is Monday, June 30th. Regal Rexnord’s dividend payout ratio (DPR) is presently 39.89%.

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.