CIBC Private Wealth Group LLC lessened its position in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) by 2.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 166,847 shares of the company's stock after selling 4,465 shares during the quarter. CIBC Private Wealth Group LLC owned 0.25% of Regal Rexnord worth $25,893,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Cerity Partners LLC increased its position in shares of Regal Rexnord by 11.7% during the 3rd quarter. Cerity Partners LLC now owns 2,632 shares of the company's stock valued at $436,000 after purchasing an additional 276 shares during the last quarter. Townsquare Capital LLC purchased a new stake in Regal Rexnord during the third quarter valued at approximately $267,000. PEAK6 Investments LLC bought a new position in Regal Rexnord in the third quarter worth approximately $1,557,000. Erste Asset Management GmbH purchased a new stake in shares of Regal Rexnord in the 3rd quarter worth $6,253,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Regal Rexnord in the 3rd quarter worth $255,000. Institutional investors own 99.72% of the company's stock.
Regal Rexnord Price Performance
RRX traded down $18.67 during trading on Thursday, hitting $102.84. 1,718,407 shares of the company traded hands, compared to its average volume of 499,238. The company has a market cap of $6.82 billion, a PE ratio of 34.86, a P/E/G ratio of 1.37 and a beta of 1.11. Regal Rexnord Co. has a 1 year low of $102.50 and a 1 year high of $185.28. 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 stock's 50-day simple moving average is $133.45 and its two-hundred day simple moving average is $154.90.
Regal Rexnord (NYSE:RRX - Get Free Report) last issued its quarterly earnings data 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 net margin of 3.25% and a return on equity of 9.57%. As a group, sell-side analysts anticipate that Regal Rexnord Co. will post 9.95 earnings per share for the current fiscal year.
Regal Rexnord Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Stockholders 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 annualized dividend and a dividend yield of 1.36%. Regal Rexnord's dividend payout ratio (DPR) is 47.46%.
Analyst Upgrades and Downgrades
Several analysts have issued reports on RRX shares. Jefferies Financial Group started coverage on Regal Rexnord in a report on Thursday, December 12th. They set a "buy" rating and a $215.00 price target for the company. The Goldman Sachs Group reduced their target price on shares of Regal Rexnord from $183.00 to $163.00 and set a "buy" rating for the company in a report on Wednesday. StockNews.com cut shares of Regal Rexnord from a "buy" rating to a "hold" rating in a research note on Monday. Barclays dropped their price target on shares of Regal Rexnord from $160.00 to $155.00 and set an "overweight" rating for the company in a research report on Wednesday, March 26th. Finally, Citigroup decreased their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set a "buy" rating on the stock in a research report on Tuesday, January 14th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Regal Rexnord presently has an average rating of "Moderate Buy" and a consensus price target of $188.88.
Check Out Our Latest Stock 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.
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