American Century Companies Inc. Acquires 13,908 Shares of Regal Rexnord Co. (NYSE:RRX)

American Century Companies Inc. grew its stake in shares of Regal Rexnord Co. (NYSE:RRX) by 3.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 434,130 shares of the company’s stock after purchasing an additional 13,908 shares during the quarter. American Century Companies Inc.’s holdings in Regal Rexnord were worth $67,347,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Skandinaviska Enskilda Banken AB publ grew its holdings in shares of Regal Rexnord by 472.4% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company’s stock worth $25,000 after purchasing an additional 137 shares during the last quarter. Tobam purchased a new stake in Regal Rexnord during the 4th quarter valued at $45,000. Jones Financial Companies Lllp grew its holdings in Regal Rexnord by 90.5% in the 4th quarter. Jones Financial Companies Lllp now owns 322 shares of the company’s stock worth $50,000 after acquiring an additional 153 shares during the last quarter. Smartleaf Asset Management LLC increased its position in shares of Regal Rexnord by 45.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 337 shares of the company’s stock valued at $52,000 after acquiring an additional 105 shares during the period. Finally, Nomura Asset Management Co. Ltd. raised its stake in shares of Regal Rexnord by 30.3% during the third quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company’s stock valued at $71,000 after acquiring an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Analyst Upgrades and Downgrades

RRX has been the topic of a number of research analyst reports. Jefferies Financial Group assumed coverage on Regal Rexnord in a report on Thursday, December 12th. They set a “buy” rating and a $215.00 price target on the stock. StockNews.com cut shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 16th. The Goldman Sachs Group raised their price objective on shares of Regal Rexnord from $191.00 to $213.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Barclays decreased their price objective on Regal Rexnord from $176.00 to $160.00 and set an “overweight” rating for the company in a report on Monday, March 10th. Finally, Oppenheimer dropped their target price on shares of Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $195.75.

Regal Rexnord Stock Performance

RRX stock opened at $124.79 on Wednesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.26 and a quick ratio of 1.25. Regal Rexnord Co. has a 1 year low of $113.73 and a 1 year high of $185.28. The company has a market cap of $8.27 billion, a P/E ratio of 42.30, a price-to-earnings-growth ratio of 1.37 and a beta of 1.11. The stock’s fifty day moving average price is $138.27 and its 200-day moving average price is $156.25.

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

Regal Rexnord Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.40 dividend on an annualized basis and a yield of 1.12%. Regal Rexnord’s dividend payout ratio is currently 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.