Empire Life Investments Inc. Sells 31,867 Shares of Regal Rexnord Co. (NYSE:RRX)

Empire Life Investments Inc. cut its position in shares of Regal Rexnord Co. (NYSE:RRX) by 33.7% in the fourth quarter, HoldingsChannel reports. The firm owned 62,618 shares of the company’s stock after selling 31,867 shares during the period. Empire Life Investments Inc.’s holdings in Regal Rexnord were worth $9,714,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp raised its position in Regal Rexnord by 1.3% during the 3rd quarter. State Street Corp now owns 1,972,866 shares of the company’s stock valued at $327,944,000 after purchasing an additional 24,860 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Regal Rexnord by 6.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,289,917 shares of the company’s stock worth $213,971,000 after acquiring an additional 83,823 shares in the last quarter. Franklin Resources Inc. raised its position in shares of 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 acquiring an additional 77,215 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Regal Rexnord by 1.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,137,746 shares of the company’s stock worth $188,729,000 after acquiring an additional 12,301 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of 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 acquiring an additional 9,338 shares in the last quarter. 99.72% of the stock is owned by institutional investors.

Regal Rexnord Stock Up 0.7 %

Regal Rexnord stock opened at $137.31 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.35 and a current ratio of 2.26. The business’s 50-day simple moving average is $156.24 and its two-hundred day simple moving average is $162.28. The company has a market cap of $9.09 billion, a PE ratio of 46.55, a PEG ratio of 1.38 and a beta of 1.03. Regal Rexnord Co. has a fifty-two week low of $130.94 and a fifty-two week high of $185.28.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $2.34 earnings per share 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%. Equities analysts anticipate that Regal Rexnord Co. will post 10.32 EPS for the current year.

Regal Rexnord Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.40 annualized dividend and a yield of 1.02%. Regal Rexnord’s payout ratio is presently 47.46%.

Wall Street Analyst Weigh In

Several research firms have recently commented on RRX. Citigroup reduced their price target on Regal Rexnord from $210.00 to $190.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. The Goldman Sachs Group boosted their price target on Regal Rexnord from $191.00 to $213.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Jefferies Financial Group began coverage on Regal Rexnord in a research note on Thursday, December 12th. They set a “buy” rating and a $215.00 target price on the stock. Barclays dropped their target price on Regal Rexnord from $190.00 to $176.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, Robert W. Baird dropped their target price on Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Regal Rexnord presently has an average rating of “Moderate Buy” and a consensus target price of $197.75.

Regal Rexnord Company 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.