1620 Investment Advisors Inc. Purchases 196 Shares of Regal Rexnord Co. (NYSE:RRX)

1620 Investment Advisors Inc. grew its position in Regal Rexnord Co. (NYSE:RRX) by 43.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 648 shares of the company’s stock after acquiring an additional 196 shares during the period. 1620 Investment Advisors Inc.’s holdings in Regal Rexnord were worth $101,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of RRX. JPMorgan Chase & Co. raised its position in Regal Rexnord by 6.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 436,307 shares of the company’s stock worth $72,375,000 after purchasing an additional 28,278 shares during the last quarter. Geode Capital Management LLC raised its position in Regal Rexnord by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,104,090 shares of the company’s stock worth $183,195,000 after purchasing an additional 9,338 shares during the last quarter. First Hawaiian Bank bought a new position in Regal Rexnord in the 4th quarter worth approximately $811,000. PNC Financial Services Group Inc. raised its position in Regal Rexnord by 29.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 12,311 shares of the company’s stock worth $2,042,000 after purchasing an additional 2,783 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in Regal Rexnord by 7.2% in the 3rd quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company’s stock worth $204,254,000 after purchasing an additional 77,215 shares during the last quarter. Institutional investors own 99.72% of the company’s stock.

Wall Street Analysts Forecast Growth

RRX has been the subject of several research analyst reports. The Goldman Sachs Group boosted their price objective on shares of Regal Rexnord from $191.00 to $213.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Barclays dropped their price objective on shares of Regal Rexnord from $176.00 to $160.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. 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. Oppenheimer dropped their target price on shares of Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Finally, StockNews.com cut shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 16th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $195.75.

Regal Rexnord Price Performance

Shares of RRX stock opened at $120.82 on Friday. Regal Rexnord Co. has a 12-month low of $113.73 and a 12-month high of $185.28. The firm has a market capitalization of $8.01 billion, a price-to-earnings ratio of 40.96, a price-to-earnings-growth ratio of 1.37 and a beta of 1.11. The company has a quick ratio of 1.25, a current ratio of 2.26 and a debt-to-equity ratio of 0.87. The firm has a fifty day moving average of $139.44 and a 200-day moving average of $156.57.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings results 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 net margin of 3.25% and a return on equity of 9.57%. On average, equities research analysts forecast that Regal Rexnord Co. will post 9.95 earnings per share for the current year.

Regal Rexnord Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is Monday, March 31st. Regal Rexnord’s dividend payout ratio (DPR) is 47.46%.

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.