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

Fmr LLC lowered its holdings in Regal Rexnord Co. (NYSE:RRX) by 5.2% in the fourth quarter, HoldingsChannel reports. The firm owned 5,704,886 shares of the company’s stock after selling 315,773 shares during the period. Fmr LLC owned about 0.09% of Regal Rexnord worth $884,999,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. Skandinaviska Enskilda Banken AB publ boosted 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 valued at $25,000 after acquiring an additional 137 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of Regal Rexnord in the 4th quarter valued at about $33,000. Tobam acquired a new stake in shares of Regal Rexnord in the 4th quarter valued at about $45,000. Jones Financial Companies Lllp grew its stake in Regal Rexnord by 90.5% in the fourth quarter. Jones Financial Companies Lllp now owns 322 shares of the company’s stock worth $50,000 after purchasing an additional 153 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in Regal Rexnord by 45.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 337 shares of the company’s stock worth $52,000 after purchasing an additional 105 shares in the last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Oppenheimer dropped their price target 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. Jefferies Financial Group assumed coverage on shares of Regal Rexnord in a report on Thursday, December 12th. They issued a “buy” rating and a $215.00 price target for the company. The Goldman Sachs Group cut their target price on shares of Regal Rexnord from $183.00 to $163.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. StockNews.com upgraded Regal Rexnord from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Barclays reduced their price objective on Regal Rexnord from $160.00 to $155.00 and set an “overweight” rating for the company in a research report on Wednesday, March 26th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $188.88.

Regal Rexnord Trading Down 3.4 %

Regal Rexnord stock opened at $95.50 on Tuesday. Regal Rexnord Co. has a one year low of $90.56 and a one year high of $185.28. The company’s fifty day moving average price is $129.48 and its two-hundred day moving average price is $153.44. The company has a market capitalization of $6.33 billion, a price-to-earnings ratio of 32.37, a PEG ratio of 1.37 and a beta of 1.09. 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 posted its quarterly earnings data 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 return on equity of 9.57% and a net margin of 3.25%. On average, analysts forecast that Regal Rexnord Co. will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.40 annualized dividend and a dividend yield of 1.47%. Regal Rexnord’s payout ratio 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.