Atria Investments Inc Buys 759 Shares of Regal Rexnord Co. (NYSE:RRX)

Atria Investments Inc boosted its stake in Regal Rexnord Co. (NYSE:RRX) by 48.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 2,310 shares of the company’s stock after purchasing an additional 759 shares during the quarter. Atria Investments Inc’s holdings in Regal Rexnord were worth $358,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its position in Regal Rexnord by 6.9% during the third quarter. JPMorgan Chase & Co. now owns 436,307 shares of the company’s stock valued at $72,375,000 after buying an additional 28,278 shares during the period. Geode Capital Management LLC lifted its position in Regal Rexnord by 0.9% during the third quarter. Geode Capital Management LLC now owns 1,104,090 shares of the company’s stock valued at $183,195,000 after buying an additional 9,338 shares during the period. First Hawaiian Bank purchased a new position in Regal Rexnord during the fourth quarter valued at $811,000. PNC Financial Services Group Inc. lifted its position in Regal Rexnord by 29.2% during the third quarter. PNC Financial Services Group Inc. now owns 12,311 shares of the company’s stock valued at $2,042,000 after buying an additional 2,783 shares during the period. Finally, Franklin Resources Inc. lifted its position in Regal Rexnord by 7.2% during the third quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company’s stock valued at $204,254,000 after buying an additional 77,215 shares during the period. Institutional investors own 99.72% of the company’s stock.

Regal Rexnord Price Performance

Shares of NYSE:RRX opened at $116.44 on Monday. The business has a 50-day simple moving average of $142.83 and a two-hundred day simple moving average of $158.04. The firm has a market cap of $7.72 billion, a price-to-earnings ratio of 39.47, a price-to-earnings-growth ratio of 1.37 and a beta of 1.11. Regal Rexnord Co. has a fifty-two week low of $113.73 and a fifty-two 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.

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%. On average, analysts expect that Regal Rexnord Co. will post 9.95 earnings per share for the current year.

Regal Rexnord Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be paid a $0.35 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.40 annualized dividend and a yield of 1.20%. Regal Rexnord’s payout ratio is 47.46%.

Wall Street Analyst Weigh In

Several brokerages have commented on RRX. The Goldman Sachs Group raised their price objective on Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Citigroup lowered their price target on Regal Rexnord from $210.00 to $190.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Jefferies Financial Group assumed coverage on Regal Rexnord in a research report on Thursday, December 12th. They issued a “buy” rating and a $215.00 price target for the company. StockNews.com lowered Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 16th. Finally, Barclays lowered their price target on Regal Rexnord from $176.00 to $160.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $195.75.

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.