CIBC Private Wealth Group LLC Sells 4,465 Shares of Regal Rexnord Co. (NYSE:RRX)

CIBC Private Wealth Group LLC decreased its position in shares of Regal Rexnord Co. (NYSE:RRX) by 2.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 166,847 shares of the company’s stock after selling 4,465 shares during the quarter. CIBC Private Wealth Group LLC owned approximately 0.25% of Regal Rexnord worth $25,893,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. iA Global Asset Management Inc. lifted its stake in Regal Rexnord by 2.7% in the third quarter. iA Global Asset Management Inc. now owns 2,626 shares of the company’s stock worth $436,000 after acquiring an additional 68 shares during the period. Bank Julius Baer & Co. Ltd Zurich lifted its position in shares of Regal Rexnord by 7.4% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,111 shares of the company’s stock worth $190,000 after purchasing an additional 77 shares during the period. Moors & Cabot Inc. increased its holdings in Regal Rexnord by 4.1% during the fourth quarter. Moors & Cabot Inc. now owns 2,139 shares of the company’s stock valued at $332,000 after buying an additional 85 shares during the period. Nomura Asset Management Co. Ltd. raised its stake in Regal Rexnord by 30.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company’s stock worth $71,000 after buying an additional 100 shares in the last quarter. Finally, CIBC Asset Management Inc raised its stake in Regal Rexnord by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 2,061 shares of the company’s stock worth $320,000 after buying an additional 101 shares in the last quarter. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Regal Rexnord Stock Performance

Shares of Regal Rexnord stock opened at $113.80 on Tuesday. The company has a 50 day moving average price of $135.21 and a 200 day moving average price of $155.42. The firm has a market capitalization of $7.54 billion, a P/E ratio of 38.57, a PEG ratio of 1.37 and a beta of 1.11. The company has a quick ratio of 1.25, a current ratio of 2.26 and a debt-to-equity ratio of 0.87. Regal Rexnord Co. has a 52 week low of $111.15 and a 52 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 (EPS) for the quarter, missing analysts’ consensus estimates of $2.56 by ($0.22). Regal Rexnord had a return on equity of 9.57% and a net margin of 3.25%. Sell-side analysts expect that Regal Rexnord Co. will post 9.95 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 given a dividend of $0.35 per share. The ex-dividend date is Monday, March 31st. This represents a $1.40 dividend on an annualized basis and a yield of 1.23%. Regal Rexnord’s dividend payout ratio is currently 47.46%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on RRX shares. Jefferies Financial Group started coverage on Regal Rexnord in a report on Thursday, December 12th. They issued a “buy” rating and a $215.00 price target on the stock. Barclays cut their target price on Regal Rexnord from $160.00 to $155.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 26th. The Goldman Sachs Group increased their price target on shares of Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. StockNews.com downgraded shares of Regal Rexnord from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Oppenheimer reduced their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Regal Rexnord presently has a consensus rating of “Moderate Buy” and a consensus price target 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.