Federated Hermes Inc. Lowers Holdings in Regal Rexnord Co. (NYSE:RRX)

Federated Hermes Inc. decreased its position in shares of Regal Rexnord Co. (NYSE:RRX) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 118,529 shares of the company’s stock after selling 2,278 shares during the quarter. Federated Hermes Inc. owned 0.18% of Regal Rexnord worth $18,387,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of RRX. Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of Regal Rexnord by 472.4% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company’s stock worth $25,000 after buying an additional 137 shares during the last quarter. Tobam purchased a new position in shares of Regal Rexnord during the 4th quarter valued at $45,000. Jones Financial Companies Lllp boosted its holdings in Regal Rexnord by 90.5% in the 4th quarter. Jones Financial Companies Lllp now owns 322 shares of the company’s stock worth $50,000 after buying an additional 153 shares during the period. Smartleaf Asset Management LLC raised its holdings in Regal Rexnord by 45.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 337 shares of the company’s stock valued at $52,000 after acquiring an additional 105 shares during the period. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in Regal Rexnord by 30.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company’s stock worth $71,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 99.72% of the company’s stock.

Wall Street Analysts Forecast Growth

RRX has been the topic of a number of research analyst reports. Citigroup decreased their target price on Regal Rexnord from $170.00 to $110.00 and set a “buy” rating on the stock in a research report on Tuesday. Jefferies Financial Group initiated 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. Oppenheimer reduced their price target on shares of Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. The Goldman Sachs Group cut their price target on Regal Rexnord from $183.00 to $163.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Finally, Barclays dropped their target price on shares of Regal Rexnord from $160.00 to $155.00 and set an “overweight” rating on the stock in a report on Wednesday, March 26th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $170.75.

Regal Rexnord Trading Up 13.9 %

NYSE RRX opened at $107.09 on Thursday. The firm’s fifty day moving average is $124.65 and its two-hundred day moving average is $151.76. Regal Rexnord Co. has a one year low of $90.56 and a one year high of $185.28. 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 cap of $7.10 billion, a PE ratio of 36.30, a P/E/G ratio of 1.37 and a beta of 1.09.

Regal Rexnord (NYSE:RRX) last issued 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 return on equity of 9.57% and a net margin of 3.25%. Analysts expect that Regal Rexnord Co. will post 9.95 earnings per share for the current 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 paid 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 dividend yield of 1.31%. Regal Rexnord’s dividend payout ratio (DPR) is 47.46%.

Regal Rexnord 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.