Regal Rexnord Co. (NYSE:RRX) Holdings Reduced by Federated Hermes Inc.

Federated Hermes Inc. reduced its holdings in Regal Rexnord Co. (NYSE:RRX) by 1.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,529 shares of the company’s stock after selling 2,278 shares during the quarter. Federated Hermes Inc.’s holdings in Regal Rexnord were worth $18,387,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Bank Julius Baer & Co. Ltd Zurich increased its stake in 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 valued at $190,000 after buying an additional 77 shares during the period. Moors & Cabot Inc. raised its position in shares of Regal Rexnord by 4.1% in the fourth quarter. Moors & Cabot Inc. now owns 2,139 shares of the company’s stock valued at $332,000 after purchasing an additional 85 shares during the period. Nomura Asset Management Co. Ltd. lifted its position in Regal Rexnord by 30.3% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company’s stock worth $71,000 after acquiring an additional 100 shares during the last quarter. CIBC Asset Management Inc boosted its stake in Regal Rexnord by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 2,061 shares of the company’s stock valued at $320,000 after purchasing an additional 101 shares during the period. Finally, Smartleaf Asset Management LLC boosted its position in shares of Regal Rexnord by 45.3% in 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. 99.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Jefferies Financial Group assumed coverage on Regal Rexnord in a research report on Thursday, December 12th. They set a “buy” rating and a $215.00 target price on the stock. Oppenheimer lowered their price target on shares of Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Citigroup reduced their price objective on shares of Regal Rexnord from $170.00 to $110.00 and set a “buy” rating for the company in a report on Tuesday. StockNews.com raised shares of Regal Rexnord from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, KeyCorp decreased their price objective on Regal Rexnord from $180.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Regal Rexnord has a consensus rating of “Moderate Buy” and a consensus price target of $170.75.

Regal Rexnord Trading Up 13.9 %

Shares of Regal Rexnord stock opened at $107.09 on Thursday. Regal Rexnord Co. has a 1 year low of $90.56 and a 1 year high of $185.28. The company has a market capitalization of $7.10 billion, a price-to-earnings ratio of 36.30, a P/E/G ratio of 1.37 and a beta of 1.09. The business has a fifty day simple moving average of $124.65 and a two-hundred day simple moving average of $151.76. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.26 and a quick ratio of 1.25.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings results on Wednesday, February 5th. The company reported $2.34 earnings per share (EPS) 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%. Research analysts forecast that Regal Rexnord Co. will post 9.95 EPS for the current year.

Regal Rexnord Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date is Monday, March 31st. Regal Rexnord’s dividend payout ratio (DPR) is presently 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.