Regal Rexnord Co. (NYSE:RRX) Shares Sold by Capital World Investors

Capital World Investors reduced its position in Regal Rexnord Co. (NYSE:RRX) by 7.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,289,322 shares of the company’s stock after selling 497,410 shares during the period. Capital World Investors owned about 9.50% of Regal Rexnord worth $975,662,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in RRX. Norges Bank acquired a new position in shares of Regal Rexnord in the fourth quarter worth about $235,188,000. Victory Capital Management Inc. raised its holdings in Regal Rexnord by 20.1% in the 4th quarter. Victory Capital Management Inc. now owns 2,176,963 shares of the company’s stock worth $337,712,000 after purchasing an additional 363,728 shares during the period. JPMorgan Chase & Co. boosted its position in Regal Rexnord by 56.8% during the fourth quarter. JPMorgan Chase & Co. now owns 683,980 shares of the company’s stock worth $106,106,000 after purchasing an additional 247,673 shares in the last quarter. TimesSquare Capital Management LLC grew its holdings in Regal Rexnord by 35.7% in the fourth quarter. TimesSquare Capital Management LLC now owns 884,095 shares of the company’s stock valued at $137,150,000 after purchasing an additional 232,509 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of Regal Rexnord in the fourth quarter valued at approximately $22,325,000. 99.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on RRX. Oppenheimer decreased their target price on Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. StockNews.com cut shares of Regal Rexnord from a “buy” rating to a “hold” rating in a research note on Wednesday. Citigroup decreased their price target on shares of Regal Rexnord from $170.00 to $110.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. The Goldman Sachs Group cut their price objective on Regal Rexnord from $183.00 to $163.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Finally, Barclays decreased their target price on Regal Rexnord from $160.00 to $155.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 26th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $170.75.

Regal Rexnord Price Performance

NYSE:RRX opened at $98.38 on Friday. Regal Rexnord Co. has a one year low of $90.56 and a one year high of $185.28. The stock has a market cap of $6.52 billion, a PE ratio of 33.35, a P/E/G ratio of 1.37 and a beta of 1.09. 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 stock has a 50 day moving average price of $118.11 and a 200 day moving average price of $148.46.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $2.34 EPS 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%. Equities research analysts expect that Regal Rexnord Co. will post 9.95 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 14th. Stockholders of record on Monday, March 31st were paid a $0.35 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.40 annualized dividend and a dividend yield of 1.42%. Regal Rexnord’s dividend payout ratio (DPR) is 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.