CIBC Asset Management Inc Purchases 101 Shares of Regal Rexnord Co. (NYSE:RRX)

CIBC Asset Management Inc increased its position in Regal Rexnord Co. (NYSE:RRX) by 5.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,061 shares of the company’s stock after purchasing an additional 101 shares during the quarter. CIBC Asset Management Inc’s holdings in Regal Rexnord were worth $320,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RRX. Point72 Asset Management L.P. acquired a new position in Regal Rexnord in the third quarter worth about $83,460,000. Westfield Capital Management Co. LP raised its holdings in shares of 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 buying an additional 399,649 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Regal Rexnord by 6.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,289,917 shares of the company’s stock worth $213,971,000 after buying an additional 83,823 shares during the period. Franklin Resources Inc. lifted its position in shares of Regal Rexnord by 7.2% during the 3rd quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company’s stock worth $204,254,000 after buying an additional 77,215 shares during the period. Finally, Jennison Associates LLC grew its position in Regal Rexnord by 33.9% in the fourth quarter. Jennison Associates LLC now owns 175,702 shares of the company’s stock valued at $27,257,000 after acquiring an additional 44,447 shares during the period. 99.72% of the stock is owned by institutional investors.

Regal Rexnord Stock Down 1.1 %

RRX stock opened at $134.50 on Monday. Regal Rexnord Co. has a 1-year low of $130.94 and a 1-year high of $185.28. The business’s 50 day simple moving average is $152.87 and its 200 day simple moving average is $161.76. The company has a current ratio of 2.26, a quick ratio of 1.25 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $8.91 billion, a PE ratio of 45.59, a PEG ratio of 1.37 and a beta of 1.03.

Regal Rexnord (NYSE:RRX) last issued 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 return on equity of 9.57% and a net margin of 3.25%. As a group, research analysts anticipate that Regal Rexnord Co. will post 9.95 EPS for the current year.

Regal Rexnord Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.04%. The ex-dividend date is Monday, March 31st. Regal Rexnord’s dividend payout ratio (DPR) is currently 47.46%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on RRX. Jefferies Financial Group initiated coverage on shares of Regal Rexnord in a research report on Thursday, December 12th. They set a “buy” rating and a $215.00 target price for the company. The Goldman Sachs Group lifted their target price on shares of Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Robert W. Baird decreased their price target on Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Barclays cut their price objective on Regal Rexnord from $190.00 to $176.00 and set an “overweight” rating for the company in a research report on Friday, February 14th. Finally, Oppenheimer decreased their target price on Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.