CANADA LIFE ASSURANCE Co Sells 3,622 Shares of Regal Rexnord Co. (NYSE:RRX)

CANADA LIFE ASSURANCE Co lessened its stake in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) by 6.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,298 shares of the company's stock after selling 3,622 shares during the period. CANADA LIFE ASSURANCE Co owned 0.08% of Regal Rexnord worth $7,954,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Dean Investment Associates LLC lifted its position in Regal Rexnord by 14.3% during the fourth quarter. Dean Investment Associates LLC now owns 23,886 shares of the company's stock worth $3,705,000 after purchasing an additional 2,985 shares during the period. Advisory Research Inc. increased its stake in Regal Rexnord by 1.5% in the fourth quarter. Advisory Research Inc. now owns 6,710 shares of the company's stock valued at $1,041,000 after acquiring an additional 98 shares during the last quarter. Marshall Wace LLP acquired a new position in Regal Rexnord during the fourth quarter valued at approximately $4,801,000. Sterling Capital Management LLC boosted its holdings in shares of Regal Rexnord by 8.1% in the 4th quarter. Sterling Capital Management LLC now owns 19,043 shares of the company's stock valued at $2,954,000 after purchasing an additional 1,433 shares in the last quarter. Finally, Treasurer of the State of North Carolina increased its stake in shares of Regal Rexnord by 0.7% in the 4th quarter. Treasurer of the State of North Carolina now owns 29,192 shares of the company's stock valued at $4,529,000 after purchasing an additional 190 shares during the last quarter. 99.72% of the stock is currently owned by institutional investors.

Regal Rexnord Trading Up 0.7 %

RRX stock traded up $0.75 during midday trading on Friday, hitting $107.09. The stock had a trading volume of 616,492 shares, compared to its average volume of 534,907. The company has a current ratio of 2.26, a quick ratio of 1.25 and a debt-to-equity ratio of 0.87. The business has a fifty day moving average price of $114.69 and a two-hundred day moving average price of $146.39. Regal Rexnord Co. has a 1-year low of $90.56 and a 1-year high of $185.28. The firm has a market cap of $7.10 billion, a P/E ratio of 36.30, a price-to-earnings-growth ratio of 1.37 and a beta of 1.09.

Regal Rexnord (NYSE:RRX - Get Free Report) last issued its earnings results on Wednesday, February 5th. The company reported $2.34 earnings per share 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%. On average, sell-side analysts predict that Regal Rexnord Co. will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 14th. Stockholders of record on Monday, March 31st were issued a dividend of $0.35 per share. The ex-dividend date of this dividend 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 currently 47.46%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on RRX shares. The Goldman Sachs Group reduced their price target on shares of Regal Rexnord from $183.00 to $163.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Barclays cut their price objective on Regal Rexnord from $160.00 to $155.00 and set an "overweight" rating on the stock in a report on Wednesday, March 26th. StockNews.com downgraded Regal Rexnord from a "buy" rating to a "hold" rating in a research report on Wednesday, April 16th. Citigroup lowered their price objective on Regal Rexnord from $170.00 to $110.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Finally, Oppenheimer reduced 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. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $170.75.

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.