Toronto Dominion Bank Has $467,000 Stock Position in Regal Rexnord Co. (NYSE:RRX)

Toronto Dominion Bank raised its holdings in Regal Rexnord Co. (NYSE:RRX) by 18.5% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 3,454 shares of the company’s stock after acquiring an additional 540 shares during the quarter. Toronto Dominion Bank’s holdings in Regal Rexnord were worth $467,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. The Manufacturers Life Insurance Company boosted its holdings in Regal Rexnord by 167.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 948,346 shares of the company’s stock worth $140,374,000 after purchasing an additional 593,862 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Regal Rexnord by 42.7% during the second quarter. Victory Capital Management Inc. now owns 1,884,575 shares of the company’s stock worth $254,832,000 after acquiring an additional 563,853 shares during the period. Schroder Investment Management Group purchased a new position in Regal Rexnord in the fourth quarter worth $49,041,000. Capital World Investors grew its stake in Regal Rexnord by 4.7% in the 1st quarter. Capital World Investors now owns 6,599,752 shares of the company’s stock valued at $1,188,615,000 after purchasing an additional 296,941 shares during the period. Finally, Diamond Hill Capital Management Inc. increased its position in shares of Regal Rexnord by 7.1% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 3,181,886 shares of the company’s stock valued at $430,255,000 after purchasing an additional 209,776 shares during the last quarter. 99.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Barclays reduced their price target on shares of Regal Rexnord from $181.00 to $180.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. KeyCorp reduced their target price on shares of Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Loop Capital reissued a “buy” rating and set a $200.00 price objective on shares of Regal Rexnord in a report on Thursday, September 19th. The Goldman Sachs Group lifted their target price on Regal Rexnord from $176.00 to $195.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, StockNews.com raised shares of Regal Rexnord from a “hold” rating to a “buy” rating in a report on Monday. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $191.29.

Regal Rexnord Stock Down 0.8 %

NYSE RRX opened at $165.88 on Tuesday. Regal Rexnord Co. has a 1 year low of $97.18 and a 1 year high of $183.85. The stock has a market capitalization of $11.03 billion, a PE ratio of -345.58, a PEG ratio of 1.78 and a beta of 1.04. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.45 and a quick ratio of 1.38. The business’s 50-day moving average is $158.04 and its 200 day moving average is $156.65.

Regal Rexnord (NYSE:RRX) last posted its earnings results on Wednesday, July 31st. The company reported $2.29 EPS for the quarter, topping the consensus estimate of $2.14 by $0.15. Regal Rexnord had a negative net margin of 0.02% and a positive return on equity of 9.16%. The firm had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same period last year, the company posted $2.56 EPS. The company’s quarterly revenue was down 12.5% compared to the same quarter last year. Sell-side analysts forecast that Regal Rexnord Co. will post 9.48 earnings per share for the current year.

Regal Rexnord Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be given a $0.35 dividend. The ex-dividend date is Friday, September 27th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.84%. Regal Rexnord’s dividend payout ratio is currently -291.67%.

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.