Credit Suisse AG grew its position in shares of Regal Rexnord Co. (NYSE:RRX – Get Rating) by 2.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 59,132 shares of the company’s stock after purchasing an additional 1,166 shares during the period. Credit Suisse AG owned 0.09% of Regal Rexnord worth $8,299,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the stock. US Bancorp DE acquired a new position in Regal Rexnord during the first quarter valued at approximately $702,000. Citigroup Inc. purchased a new stake in shares of Regal Rexnord during the first quarter valued at approximately $3,124,000. AlphaCrest Capital Management LLC purchased a new stake in shares of Regal Rexnord during the first quarter valued at approximately $347,000. Great West Life Assurance Co. Can purchased a new stake in shares of Regal Rexnord during the first quarter valued at approximately $5,758,000. Finally, Synovus Financial Corp purchased a new stake in shares of Regal Rexnord during the first quarter valued at approximately $1,608,000. 99.98% of the stock is owned by institutional investors and hedge funds.
Regal Rexnord Stock Performance
Shares of NYSE RRX opened at $154.57 on Friday. The company has a current ratio of 2.99, a quick ratio of 1.66 and a debt-to-equity ratio of 0.31. The business has a fifty day simple moving average of $137.99 and a 200 day simple moving average of $137.27. Regal Rexnord Co. has a one year low of $108.28 and a one year high of $164.15. The firm has a market capitalization of $10.22 billion, a price-to-earnings ratio of 21.17, a PEG ratio of 1.47 and a beta of 1.12.
Regal Rexnord Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 14th. Stockholders of record on Friday, March 31st will be paid a dividend of $0.35 per share. The ex-dividend date is Thursday, March 30th. This represents a $1.40 annualized dividend and a dividend yield of 0.91%. Regal Rexnord’s dividend payout ratio is currently 19.18%.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on RRX shares. KeyCorp lifted their price target on shares of Regal Rexnord from $172.00 to $184.00 and gave the stock an “overweight” rating in a research note on Thursday, February 2nd. Oppenheimer upped their price objective on shares of Regal Rexnord from $180.00 to $190.00 and gave the stock an “outperform” rating in a report on Friday, February 3rd. Robert W. Baird boosted their price target on shares of Regal Rexnord from $167.00 to $188.00 in a research report on Friday, February 3rd. Barclays boosted their price target on shares of Regal Rexnord from $148.00 to $185.00 in a research report on Sunday, February 5th. Finally, Wolfe Research cut shares of Regal Rexnord from an “outperform” rating to a “peer perform” rating in a research report on Thursday, December 1st. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $186.80.
About Regal Rexnord
Regal Rexnord Corp. engages in the manufacture of electric motors, electrical motion controls, power generation, and power transmission products. It operates through the following segments: Commercial Systems, Industrial Systems, Climate Solutions, and Power Transmission Solutions. The Commercial Systems segment produces fractional to 5 horsepower AC and DC motors, electric variable speed controls, fans, and blowers for commercial applications.
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