Regal Rexnord Co. (NYSE:RRX) Shares Purchased by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC lifted its holdings in Regal Rexnord Co. (NYSE:RRX) by 64.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 466,475 shares of the company’s stock after purchasing an additional 182,770 shares during the quarter. Regal Rexnord comprises about 1.2% of TimesSquare Capital Management LLC’s portfolio, making the stock its 21st biggest position. TimesSquare Capital Management LLC owned approximately 0.70% of Regal Rexnord worth $84,012,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Rise Advisors LLC acquired a new stake in Regal Rexnord during the 1st quarter worth about $33,000. GAMMA Investing LLC purchased a new position in shares of Regal Rexnord in the 4th quarter valued at about $58,000. ICA Group Wealth Management LLC purchased a new position in shares of Regal Rexnord in the 4th quarter valued at about $70,000. Riverview Trust Co purchased a new position in shares of Regal Rexnord in the 1st quarter valued at about $75,000. Finally, Benjamin F. Edwards & Company Inc. purchased a new position in shares of Regal Rexnord in the 4th quarter valued at about $100,000. Institutional investors and hedge funds own 99.72% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on RRX. Robert W. Baird lifted their price target on Regal Rexnord from $205.00 to $208.00 and gave the company an “outperform” rating in a research note on Wednesday, May 8th. Raymond James started coverage on Regal Rexnord in a research note on Friday, June 28th. They issued a “market perform” rating for the company. StockNews.com lowered Regal Rexnord from a “buy” rating to a “hold” rating in a research note on Thursday, July 4th. Barclays dropped their price target on Regal Rexnord from $199.00 to $181.00 and set an “overweight” rating for the company in a research report on Tuesday, June 4th. Finally, KeyCorp upped their price target on Regal Rexnord from $180.00 to $210.00 and gave the company an “overweight” rating in a research report on Monday, March 25th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $192.00.

Regal Rexnord Trading Up 2.8 %

Regal Rexnord stock traded up $4.00 during mid-day trading on Friday, hitting $145.53. The company’s stock had a trading volume of 574,691 shares, compared to its average volume of 373,456. The firm has a market capitalization of $9.68 billion, a PE ratio of -303.19, a price-to-earnings-growth ratio of 1.45 and a beta of 1.06. Regal Rexnord Co. has a 1 year low of $97.18 and a 1 year high of $183.85. The company has a current ratio of 2.62, a quick ratio of 1.56 and a debt-to-equity ratio of 0.99. The stock’s fifty day moving average is $146.18 and its two-hundred day moving average is $154.09.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings data on Monday, May 6th. The company reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.02. The company had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.56 billion. Regal Rexnord had a positive return on equity of 9.42% and a negative net margin of 0.48%. The firm’s revenue for the quarter was up 26.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.22 earnings per share. On average, analysts anticipate that Regal Rexnord Co. will post 9.73 EPS for the current year.

Regal Rexnord Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Friday, June 28th were given a $0.35 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.40 annualized dividend and a yield of 0.96%. Regal Rexnord’s payout ratio is -291.67%.

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.