Amundi trimmed its position in Regal Rexnord Co. (NYSE:RRX - Free Report) by 51.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 23,185 shares of the company's stock after selling 24,189 shares during the period. Amundi's holdings in Regal Rexnord were worth $3,598,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in RRX. Tobam bought a new stake in Regal Rexnord during the fourth quarter valued at approximately $45,000. Jones Financial Companies Lllp raised its position 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 acquiring an additional 153 shares during the period. Smartleaf Asset Management LLC boosted its stake in shares of Regal Rexnord by 45.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 337 shares of the company's stock worth $52,000 after acquiring an additional 105 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in Regal Rexnord by 30.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company's stock worth $71,000 after purchasing an additional 100 shares during the period. Finally, Steward Partners Investment Advisory LLC increased its position in Regal Rexnord by 335.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 622 shares of the company's stock worth $97,000 after buying an additional 479 shares in the last quarter. Hedge funds and other institutional investors own 99.72% of the company's stock.
Regal Rexnord Price Performance
Shares of NYSE:RRX traded up $0.40 during mid-day trading on Thursday, reaching $123.71. The stock had a trading volume of 927,047 shares, compared to its average volume of 479,872. The company has a market cap of $8.20 billion, a P/E ratio of 41.94, a price-to-earnings-growth ratio of 1.37 and a beta of 1.11. The business's 50 day moving average price is $140.64 and its 200 day moving average price is $157.13. The company has a current ratio of 2.26, a quick ratio of 1.25 and a debt-to-equity ratio of 0.87. Regal Rexnord Co. has a 1 year low of $113.73 and a 1 year high of $185.28.
Regal Rexnord (NYSE:RRX - Get Free Report) last announced its 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 expect that Regal Rexnord Co. will post 9.95 EPS for the current fiscal year.
Regal Rexnord Announces Dividend
The company 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 $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Monday, March 31st. Regal Rexnord's payout ratio is currently 47.46%.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on RRX. Citigroup lowered their price objective on Regal Rexnord from $210.00 to $190.00 and set a "buy" rating on the stock in a research report on Tuesday, January 14th. Oppenheimer reduced their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating for the company in a research note on Friday, February 7th. Barclays lowered their target price on shares of Regal Rexnord from $176.00 to $160.00 and set an "overweight" rating on the stock in a research note on Monday, March 10th. The Goldman Sachs Group increased their price target on Regal Rexnord from $191.00 to $213.00 and gave the stock a "buy" rating in a research note on Thursday, December 12th. Finally, Jefferies Financial Group initiated coverage on Regal Rexnord in a research note on Thursday, December 12th. They issued a "buy" rating and a $215.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $195.75.
View Our Latest Stock Analysis on RRX
About Regal Rexnord
(
Free Report)
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.
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