Regal Rexnord Co. (NYSE:RRX) Shares Sold by Fmr LLC

Fmr LLC reduced its holdings in Regal Rexnord Co. (NYSE:RRX) by 5.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,704,886 shares of the company’s stock after selling 315,773 shares during the period. Fmr LLC owned about 8.61% of Regal Rexnord worth $884,999,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Skandinaviska Enskilda Banken AB publ increased its stake in Regal Rexnord by 472.4% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company’s stock worth $25,000 after buying an additional 137 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of Regal Rexnord in the fourth quarter worth approximately $33,000. Tobam purchased a new stake in shares of Regal Rexnord during the fourth quarter worth approximately $45,000. Jones Financial Companies Lllp raised its stake in Regal Rexnord by 90.5% in the 4th quarter. Jones Financial Companies Lllp now owns 322 shares of the company’s stock valued at $50,000 after purchasing an additional 153 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in Regal Rexnord by 45.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 337 shares of the company’s stock valued at $52,000 after purchasing an additional 105 shares during the last quarter. 99.72% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on RRX. The Goldman Sachs Group dropped their price target on Regal Rexnord from $183.00 to $163.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Oppenheimer dropped their target price on Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Jefferies Financial Group started coverage on Regal Rexnord in a report on Thursday, December 12th. They set a “buy” rating and a $215.00 price target on the stock. StockNews.com raised shares of Regal Rexnord from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Citigroup reduced their target price on shares of Regal Rexnord from $210.00 to $190.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. One 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, Regal Rexnord currently has a consensus rating of “Moderate Buy” and an average target price of $188.88.

Regal Rexnord Price Performance

Shares of NYSE:RRX opened at $95.50 on Tuesday. The company has a market cap of $6.33 billion, a P/E ratio of 32.37, a PEG ratio of 1.37 and a beta of 1.09. The company has a 50-day moving average price of $129.48 and a 200 day moving average price of $153.44. Regal Rexnord Co. has a 52 week low of $90.56 and a 52 week high of $185.28. 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 (NYSE:RRX) last posted its quarterly earnings results 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 return on equity of 9.57% and a net margin of 3.25%. Research analysts predict that Regal Rexnord Co. will post 9.95 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Investors 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 dividend on an annualized basis and a yield of 1.47%. Regal Rexnord’s dividend payout ratio (DPR) is currently 47.46%.

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.