Bank of New York Mellon Corp trimmed its position in Regal Rexnord Co. (NYSE:RRX - Free Report) by 2.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 511,989 shares of the company's stock after selling 14,564 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.77% of Regal Rexnord worth $79,425,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently added to or reduced their stakes in the company. Creative Planning grew its holdings in shares of Regal Rexnord by 11.6% during the third quarter. Creative Planning now owns 3,131 shares of the company's stock valued at $519,000 after purchasing an additional 326 shares during the last quarter. International Assets Investment Management LLC increased its position in Regal Rexnord by 87,585.7% in the third quarter. International Assets Investment Management LLC now owns 6,138 shares of the company's stock worth $1,018,000 after buying an additional 6,131 shares during the period. State of Alaska Department of Revenue boosted its holdings in shares of Regal Rexnord by 7.2% during the third quarter. State of Alaska Department of Revenue now owns 7,714 shares of the company's stock valued at $1,279,000 after acquiring an additional 520 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of Regal Rexnord by 2.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,616 shares of the company's stock worth $601,000 after acquiring an additional 95 shares during the period. Finally, First Trust Direct Indexing L.P. bought a new stake in Regal Rexnord in the 3rd quarter valued at about $272,000. Institutional investors and hedge funds own 99.72% of the company's stock.
Regal Rexnord Stock Down 0.7 %
RRX stock traded down $0.86 during midday trading on Thursday, reaching $123.16. The company had a trading volume of 214,777 shares, compared to its average volume of 611,225. The company has a 50 day moving average of $148.02 and a two-hundred day moving average of $160.23. 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 $117.18 and a 1 year high of $185.28. The company has a market capitalization of $8.16 billion, a P/E ratio of 41.75, a PEG ratio of 1.37 and a beta of 1.03.
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 analysts' consensus estimates 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 expect that Regal Rexnord Co. will post 9.95 earnings per share 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. Investors of record on Monday, March 31st will be issued a $0.35 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.40 dividend on an annualized basis and a yield of 1.14%. Regal Rexnord's dividend payout ratio is currently 47.46%.
Analyst Upgrades and Downgrades
RRX has been the subject of several recent analyst reports. Robert W. Baird decreased their target price on shares of Regal Rexnord from $223.00 to $208.00 and set an "outperform" rating for the company in a research report on Wednesday, November 6th. Jefferies Financial Group started coverage on Regal Rexnord in a research note on Thursday, December 12th. They set a "buy" rating and a $215.00 target price on the stock. Citigroup lowered their price target on Regal Rexnord from $210.00 to $190.00 and set a "buy" rating on the stock in a report on Tuesday, January 14th. StockNews.com lowered shares of Regal Rexnord from a "strong-buy" rating to a "buy" rating in a research report on Thursday, January 16th. Finally, Barclays dropped their price target on shares of Regal Rexnord from $190.00 to $176.00 and set an "overweight" rating on the stock in a research report on Friday, February 14th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, Regal Rexnord has a consensus rating of "Moderate Buy" and an average price target of $197.75.
View Our Latest Research Report on Regal Rexnord
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.
Further Reading
Before you consider Regal Rexnord, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Regal Rexnord wasn't on the list.
While Regal Rexnord currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
