Alliancebernstein L.P. Sells 37,864 Shares of Regal Rexnord Co. (NYSE:RRX)

Alliancebernstein L.P. decreased its stake in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) by 4.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 745,255 shares of the company's stock after selling 37,864 shares during the period. Alliancebernstein L.P. owned approximately 1.13% of Regal Rexnord worth $115,611,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. O Shaughnessy Asset Management LLC boosted its position in Regal Rexnord by 6.6% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 5,265 shares of the company's stock valued at $817,000 after acquiring an additional 328 shares in the last quarter. Clearbridge Investments LLC lifted its stake in shares of Regal Rexnord by 10.1% in the 4th quarter. Clearbridge Investments LLC now owns 617,762 shares of the company's stock valued at $95,833,000 after purchasing an additional 56,590 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in shares of Regal Rexnord during the fourth quarter valued at approximately $747,000. Brown Brothers Harriman & Co. grew its stake in Regal Rexnord by 6.4% in the fourth quarter. Brown Brothers Harriman & Co. now owns 2,485 shares of the company's stock worth $385,000 after purchasing an additional 150 shares during the period. Finally, Pictet Asset Management Holding SA raised its holdings in Regal Rexnord by 13.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 9,323 shares of the company's stock worth $1,446,000 after purchasing an additional 1,104 shares in the last quarter. Hedge funds and other institutional investors own 99.72% of the company's stock.

Remove Ads

Analyst Ratings Changes

A number of brokerages have recently commented on RRX. Oppenheimer dropped their target price 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. The Goldman Sachs Group cut their price objective on shares of Regal Rexnord from $183.00 to $163.00 and set a "buy" rating on the stock in a report on Wednesday. StockNews.com lowered Regal Rexnord from a "buy" rating to a "hold" rating in a research report on Monday. Jefferies Financial Group began coverage on Regal Rexnord in a report on Thursday, December 12th. They set a "buy" rating and a $215.00 price target for the company. Finally, Barclays decreased their target price on shares of Regal Rexnord from $160.00 to $155.00 and set an "overweight" rating for the company in a report on Wednesday, March 26th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $188.88.

Regal Rexnord Price Performance

Shares of NYSE RRX traded down $3.94 during midday trading on Friday, reaching $98.77. 1,534,768 shares of the stock traded hands, compared to its average volume of 504,749. The company's 50 day moving average is $132.16 and its 200 day moving average is $154.54. Regal Rexnord Co. has a one year low of $92.71 and a one year high of $185.28. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.26 and a quick ratio of 1.25. The stock has a market capitalization of $6.55 billion, a PE ratio of 33.48, a P/E/G ratio of 1.37 and a beta of 1.11.

Regal Rexnord (NYSE:RRX - Get Free Report) last released its quarterly earnings data 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 net margin of 3.25% and a return on equity of 9.57%. On average, equities research analysts anticipate that Regal Rexnord Co. will post 9.95 earnings per share for the current year.

Regal Rexnord Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.35 per share. The ex-dividend date is Monday, March 31st. This represents a $1.40 annualized dividend and a yield of 1.42%. Regal Rexnord's payout ratio 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.