Regal Rexnord Co. (NYSE:RRX) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. lessened its holdings in Regal Rexnord Co. (NYSE:RRX) by 0.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,753,711 shares of the company’s stock after selling 7,640 shares during the period. Vanguard Group Inc. owned approximately 0.10% of Regal Rexnord worth $1,047,703,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its position in Regal Rexnord by 1.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 431,774 shares of the company’s stock valued at $71,623,000 after buying an additional 4,752 shares during the last quarter. Cerity Partners LLC raised its stake in shares of Regal Rexnord by 11.7% in the 3rd quarter. Cerity Partners LLC now owns 2,632 shares of the company’s stock valued at $436,000 after acquiring an additional 276 shares during the period. Townsquare Capital LLC acquired a new position in shares of Regal Rexnord in the 3rd quarter worth approximately $267,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Regal Rexnord by 6.9% during 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 purchasing an additional 83,823 shares during the period. Finally, PEAK6 Investments LLC acquired a new stake in Regal Rexnord in the 3rd quarter valued at approximately $1,557,000. 99.72% of the stock is currently owned by hedge funds and other institutional investors.

Regal Rexnord Stock Down 2.3 %

RRX stock opened at $118.03 on Friday. Regal Rexnord Co. has a fifty-two week low of $113.73 and a fifty-two week high of $185.28. The company’s 50 day moving average price is $136.06 and its 200 day moving average price is $155.56. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.25 and a current ratio of 2.26. The firm has a market capitalization of $7.82 billion, a price-to-earnings ratio of 40.01, a PEG ratio of 1.37 and a beta of 1.11.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $2.34 earnings per share for the quarter, missing analysts’ consensus estimates 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 anticipate that Regal Rexnord Co. will post 9.95 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be given 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 dividend yield of 1.19%. Regal Rexnord’s dividend payout ratio is currently 47.46%.

Analysts Set New Price Targets

A number of research analysts have commented on RRX shares. Oppenheimer decreased their price target on Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. Barclays lowered their target price on Regal Rexnord from $160.00 to $155.00 and set an “overweight” rating for the company in a report on Wednesday. StockNews.com lowered shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 16th. Citigroup lowered their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Finally, Jefferies Financial Group began coverage on shares of Regal Rexnord in a research note on Thursday, December 12th. They set a “buy” rating and a $215.00 target price on the stock. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $195.13.

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.