Commerce Bank Lowers Position in Regal Rexnord Co. (NYSE:RRX)

Commerce Bank lessened its holdings in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) by 1.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 420,892 shares of the company's stock after selling 5,009 shares during the period. Commerce Bank owned 0.64% of Regal Rexnord worth $65,293,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RRX. Bank Julius Baer & Co. Ltd Zurich lifted its position in Regal Rexnord by 7.4% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,111 shares of the company's stock valued at $190,000 after acquiring an additional 77 shares during the period. Moors & Cabot Inc. boosted its position in shares of Regal Rexnord by 4.1% in the 4th quarter. Moors & Cabot Inc. now owns 2,139 shares of the company's stock worth $332,000 after purchasing an additional 85 shares in the last quarter. Advisory Research Inc. increased its position in Regal Rexnord by 1.5% during the 4th quarter. Advisory Research Inc. now owns 6,710 shares of the company's stock valued at $1,041,000 after buying an additional 98 shares in the last quarter. CIBC Asset Management Inc raised its stake in Regal Rexnord by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 2,061 shares of the company's stock valued at $320,000 after buying an additional 101 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in shares of Regal Rexnord by 45.3% in the fourth 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. 99.72% of the stock is owned by hedge funds and other institutional investors.

Regal Rexnord Stock Performance

Shares of NYSE RRX traded up $2.86 during midday trading on Wednesday, hitting $104.06. 265,226 shares of the stock traded hands, compared to its average volume of 530,925. The firm has a market capitalization of $6.90 billion, a P/E ratio of 35.27, a PEG ratio of 1.37 and a beta of 1.09. Regal Rexnord Co. has a one year low of $90.56 and a one year 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. The firm has a 50-day moving average of $116.59 and a two-hundred day moving average of $147.53.

Regal Rexnord (NYSE:RRX - Get Free Report) last posted 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 net margin of 3.25% and a return on equity of 9.57%. On average, equities analysts forecast that Regal Rexnord Co. will post 9.95 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 14th. Investors of record on Monday, March 31st were given a dividend of $0.35 per share. The ex-dividend date was Monday, March 31st. This represents a $1.40 annualized dividend and a yield of 1.35%. Regal Rexnord's dividend payout ratio (DPR) is 47.46%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on RRX shares. Oppenheimer lowered their price target on Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating for the company in a research report on Friday, February 7th. Citigroup dropped their target price on shares of Regal Rexnord from $170.00 to $110.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. StockNews.com downgraded shares of Regal Rexnord from a "buy" rating to a "hold" rating in a research report on Wednesday, April 16th. Barclays lowered their price objective on Regal Rexnord from $160.00 to $155.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 26th. Finally, The Goldman Sachs Group reduced their target price on Regal Rexnord from $183.00 to $163.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, Regal Rexnord has an average rating of "Moderate Buy" and a consensus price target of $170.75.

About Regal Rexnord

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.