Regal Rexnord Co. (NYSE:RRX) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its position in Regal Rexnord Co. (NYSE:RRX - Free Report) 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 439,316 shares of the company's stock after selling 34,774 shares during the period. Allspring Global Investments Holdings LLC owned 0.66% of Regal Rexnord worth $67,338,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp increased its position in shares of Regal Rexnord by 1.3% during the third quarter. State Street Corp now owns 1,972,866 shares of the company's stock valued at $327,944,000 after acquiring an additional 24,860 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Regal Rexnord by 6.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,289,917 shares of the company's stock valued at $213,971,000 after purchasing an additional 83,823 shares during the last quarter. Franklin Resources Inc. increased its holdings in Regal Rexnord by 7.2% in the 3rd quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company's stock valued at $204,254,000 after purchasing an additional 77,215 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Regal Rexnord by 1.1% during the third quarter. The Manufacturers Life Insurance Company now owns 1,137,746 shares of the company's stock worth $188,729,000 after purchasing an additional 12,301 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Regal Rexnord by 0.9% during the third quarter. Geode Capital Management LLC now owns 1,104,090 shares of the company's stock worth $183,195,000 after purchasing an additional 9,338 shares in the last quarter. Institutional investors and hedge funds own 99.72% of the company's stock.

Wall Street Analysts Forecast Growth

RRX has been the subject of several research reports. Oppenheimer dropped their target price on Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating for the company in a research report on Friday, February 7th. The Goldman Sachs Group lifted their price objective on shares of Regal Rexnord from $191.00 to $213.00 and gave the company a "buy" rating in a report on Thursday, December 12th. Barclays reduced their target price on shares of Regal Rexnord from $190.00 to $176.00 and set an "overweight" rating on the stock in a report on Friday. Citigroup dropped their price target on shares of Regal Rexnord from $210.00 to $190.00 and set a "buy" rating for the company in a research note on Tuesday, January 14th. Finally, Robert W. Baird reduced their price objective on Regal Rexnord from $223.00 to $208.00 and set an "outperform" rating on the stock in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $197.75.

Regal Rexnord Stock Up 0.7 %

Shares of RRX stock traded up $0.90 on Monday, reaching $137.31. 689,960 shares of the stock were exchanged, compared to its average volume of 533,582. The company has a market capitalization of $9.09 billion, a price-to-earnings ratio of 46.55, a PEG ratio of 1.38 and a beta of 1.03. The business's 50 day moving average price is $155.58 and its 200 day moving average price is $162.13. The company has a current ratio of 2.26, a quick ratio of 1.35 and a debt-to-equity ratio of 0.87. Regal Rexnord Co. has a twelve month low of $130.94 and a twelve month high of $185.28.

Regal Rexnord (NYSE:RRX - Get Free Report) last released 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%. As a group, sell-side analysts expect that Regal Rexnord Co. will post 10.32 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

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 issued a dividend of $0.35 per share. The ex-dividend date is Monday, March 31st. This represents a $1.40 dividend on an annualized basis and a yield of 1.02%. Regal Rexnord's payout ratio is currently 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.