CANADA LIFE ASSURANCE Co lowered its position in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) by 6.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 51,298 shares of the company's stock after selling 3,622 shares during the quarter. CANADA LIFE ASSURANCE Co owned about 0.08% of Regal Rexnord worth $7,954,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of RRX. Tidal Investments LLC lifted its holdings in shares of Regal Rexnord by 4.8% in the 3rd quarter. Tidal Investments LLC now owns 7,605 shares of the company's stock worth $1,262,000 after purchasing an additional 347 shares during the last quarter. Franklin Resources Inc. increased its position in Regal Rexnord by 7.2% in the third quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company's stock worth $204,254,000 after buying an additional 77,215 shares during the period. American Trust lifted its stake in Regal Rexnord by 11.5% in the third quarter. American Trust now owns 1,797 shares of the company's stock valued at $298,000 after buying an additional 185 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Regal Rexnord by 6.9% during the third quarter. JPMorgan Chase & Co. now owns 436,307 shares of the company's stock valued at $72,375,000 after acquiring an additional 28,278 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of Regal Rexnord by 28.3% during the fourth quarter. GAMMA Investing LLC now owns 1,079 shares of the company's stock worth $167,000 after acquiring an additional 238 shares during the last quarter. Institutional investors own 99.72% of the company's stock.
Regal Rexnord Stock Performance
Shares of NYSE RRX traded up $0.75 during trading hours on Friday, reaching $107.09. 616,492 shares of the stock were exchanged, compared to its average volume of 534,907. The stock's fifty day simple moving average is $115.28 and its 200 day simple moving average is $146.79. The firm has a market capitalization of $7.10 billion, a price-to-earnings ratio of 36.30, a P/E/G ratio of 1.37 and a beta of 1.09. Regal Rexnord Co. has a 52 week low of $90.56 and a 52 week high of $185.28. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.25 and a current ratio of 2.26.
Regal Rexnord (NYSE:RRX - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $2.34 EPS for the quarter, missing analysts' consensus estimates of $2.56 by ($0.22). Regal Rexnord had a return on equity of 9.57% and a net margin of 3.25%. Sell-side analysts predict that Regal Rexnord Co. will post 9.95 EPS for the current year.
Regal Rexnord Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 14th. Investors of record on Monday, March 31st were paid a $0.35 dividend. The ex-dividend date was Monday, March 31st. This represents a $1.40 annualized dividend and a dividend yield of 1.31%. Regal Rexnord's dividend payout ratio is 47.46%.
Analyst Ratings Changes
Several equities research analysts recently weighed in on RRX shares. StockNews.com downgraded shares of Regal Rexnord from a "buy" rating to a "hold" rating in a report on Wednesday, April 16th. KeyCorp reduced their price target on shares of Regal Rexnord from $180.00 to $125.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Oppenheimer lowered their target price on Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating on the stock in a research note on Friday, February 7th. The Goldman Sachs Group lowered their price objective on shares of Regal Rexnord from $183.00 to $163.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Finally, Citigroup lowered their price target on shares of Regal Rexnord from $170.00 to $110.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $170.75.
Check Out Our Latest 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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