M&T Bank Corp Buys 175 Shares of Regal Rexnord Co. (NYSE:RRX)

M&T Bank Corp lifted its stake in Regal Rexnord Co. (NYSE:RRX) by 5.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,449 shares of the company’s stock after purchasing an additional 175 shares during the quarter. M&T Bank Corp’s holdings in Regal Rexnord were worth $535,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. CIBC Asset Management Inc lifted its stake in Regal Rexnord by 3.2% during the third quarter. CIBC Asset Management Inc now owns 1,960 shares of the company’s stock worth $325,000 after purchasing an additional 61 shares during the last quarter. iA Global Asset Management Inc. lifted its stake in Regal Rexnord by 2.7% during the third quarter. iA Global Asset Management Inc. now owns 2,626 shares of the company’s stock worth $436,000 after purchasing an additional 68 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in Regal Rexnord by 30.3% during the third quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company’s stock worth $71,000 after purchasing an additional 100 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in Regal Rexnord by 45.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 337 shares of the company’s stock worth $52,000 after purchasing an additional 105 shares during the last quarter. Finally, Coldstream Capital Management Inc. lifted its stake in Regal Rexnord by 5.3% during the third quarter. Coldstream Capital Management Inc. now owns 2,430 shares of the company’s stock worth $404,000 after purchasing an additional 123 shares during the last quarter. 99.72% of the stock is currently owned by institutional investors.

Regal Rexnord Stock Performance

NYSE RRX opened at $114.55 on Friday. The company has a market capitalization of $7.59 billion, a price-to-earnings ratio of 38.83, a PEG ratio of 1.37 and a beta of 1.11. Regal Rexnord Co. has a twelve month low of $113.73 and a twelve month high of $185.28. The stock has a fifty day simple moving average of $143.67 and a 200 day simple moving average of $158.49. The company has a quick ratio of 1.25, a current ratio of 2.26 and a debt-to-equity ratio of 0.87.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $2.34 earnings per share 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 expect that Regal Rexnord Co. will post 9.95 EPS for the current year.

Regal Rexnord Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be issued 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 1.22%. Regal Rexnord’s payout ratio is 47.46%.

Analyst Ratings Changes

Several research firms have weighed in on RRX. StockNews.com cut Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 16th. Barclays cut their target price on Regal Rexnord from $176.00 to $160.00 and set an “overweight” rating for the company in a research note on Monday. Jefferies Financial Group assumed coverage on Regal Rexnord in a research note on Thursday, December 12th. They set a “buy” rating and a $215.00 target price for the company. Citigroup lowered 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. Finally, Oppenheimer lowered 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. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $195.75.

Regal Rexnord 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.