Park Avenue Securities LLC Invests $239,000 in Regal Rexnord Co. (NYSE:RRX)

Park Avenue Securities LLC bought a new position in Regal Rexnord Co. (NYSE:RRXGet Rating) during the third quarter, HoldingsChannel.com reports. The fund bought 1,703 shares of the company’s stock, valued at approximately $239,000.

A number of other large investors have also recently made changes to their positions in the business. Jennison Associates LLC increased its holdings in shares of Regal Rexnord by 28.6% in the 3rd quarter. Jennison Associates LLC now owns 184,369 shares of the company’s stock worth $25,878,000 after buying an additional 41,000 shares during the last quarter. Assetmark Inc. increased its holdings in shares of Regal Rexnord by 56.8% in the 3rd quarter. Assetmark Inc. now owns 1,767 shares of the company’s stock worth $248,000 after buying an additional 640 shares during the last quarter. Dupont Capital Management Corp increased its holdings in shares of Regal Rexnord by 199.6% in the 3rd quarter. Dupont Capital Management Corp now owns 19,948 shares of the company’s stock worth $2,800,000 after buying an additional 13,290 shares during the last quarter. Addison Advisors LLC increased its holdings in shares of Regal Rexnord by 100.7% in the 3rd quarter. Addison Advisors LLC now owns 570 shares of the company’s stock worth $80,000 after buying an additional 286 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D increased its holdings in shares of Regal Rexnord by 3.7% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 38,033 shares of the company’s stock worth $5,338,000 after buying an additional 1,355 shares during the last quarter. 99.98% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Wolfe Research downgraded shares of Regal Rexnord from an “outperform” rating to a “peer perform” rating in a report on Thursday, December 1st. Oppenheimer cut their price target on shares of Regal Rexnord to $180.00 in a report on Wednesday, December 14th. Robert W. Baird cut their price target on shares of Regal Rexnord from $174.00 to $167.00 in a report on Wednesday, November 2nd. Finally, StockNews.com assumed coverage on shares of Regal Rexnord in a report on Wednesday, October 12th. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Regal Rexnord presently has an average rating of “Moderate Buy” and a consensus price target of $172.60.

Regal Rexnord Price Performance

Regal Rexnord stock opened at $136.83 on Tuesday. The stock has a market cap of $9.05 billion, a price-to-earnings ratio of 24.01, a price-to-earnings-growth ratio of 1.25 and a beta of 1.08. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.89 and a quick ratio of 1.60. Regal Rexnord Co. has a 1 year low of $108.28 and a 1 year high of $166.40. The firm has a 50-day moving average of $125.65 and a two-hundred day moving average of $132.93.

Regal Rexnord (NYSE:RRXGet Rating) last released its quarterly earnings data on Monday, October 31st. The company reported $2.66 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.66. The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Regal Rexnord had a net margin of 7.37% and a return on equity of 10.91%. On average, research analysts forecast that Regal Rexnord Co. will post 10.41 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 13th. Shareholders of record on Friday, December 30th were given a $0.35 dividend. The ex-dividend date was Thursday, December 29th. This represents a $1.40 annualized dividend and a yield of 1.02%. Regal Rexnord’s dividend payout ratio (DPR) is 24.56%.

Regal Rexnord Profile

(Get Rating)

Regal Rexnord Corporation, together with its subsidiaries, designs, manufactures, and sells industrial powertrain solutions, power transmission components, electric motors and electronic controls, air moving products, and specialty electrical components and systems worldwide. It operates through four segments: Commercial Systems, Industrial Systems, Climate Solutions, and Motion Control Solutions.

Further Reading

Want to see what other hedge funds are holding RRX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Regal Rexnord Co. (NYSE:RRXGet Rating).

Institutional Ownership by Quarter for Regal Rexnord (NYSE:RRX)

Receive News & Ratings for Regal Rexnord Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Regal Rexnord and related companies with MarketBeat.com's FREE daily email newsletter.