Regal Rexnord Co. (NYSE:RRX) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. trimmed its stake in Regal Rexnord Co. (NYSE:RRX - Free Report) by 4.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 74,939 shares of the company's stock after selling 3,748 shares during the period. Corebridge Financial Inc. owned 0.11% of Regal Rexnord worth $11,625,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in RRX. Point72 Asset Management L.P. bought a new position in Regal Rexnord in the 3rd quarter worth about $83,460,000. Victory Capital Management Inc. raised its holdings in Regal Rexnord by 20.1% in the 4th quarter. Victory Capital Management Inc. now owns 2,176,963 shares of the company's stock worth $337,712,000 after acquiring an additional 363,728 shares during the last quarter. TimesSquare Capital Management LLC boosted its stake in Regal Rexnord by 35.7% during the 4th quarter. TimesSquare Capital Management LLC now owns 884,095 shares of the company's stock valued at $137,150,000 after purchasing an additional 232,509 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Regal Rexnord in the 4th quarter worth $22,325,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Regal Rexnord by 6.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,289,917 shares of the company's stock worth $213,971,000 after purchasing an additional 83,823 shares during the last quarter. Hedge funds and other institutional investors own 99.72% of the company's stock.

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Analysts Set New Price Targets

RRX has been the subject of a number of analyst reports. Oppenheimer reduced their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating for the company in a research note on Friday, February 7th. Barclays dropped their target price on Regal Rexnord from $160.00 to $155.00 and set an "overweight" rating for the company in a report on Wednesday. Jefferies Financial Group initiated 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 decreased their price target on shares of Regal Rexnord from $210.00 to $190.00 and set a "buy" rating for the company in a research note on Tuesday, January 14th. Finally, StockNews.com cut shares of Regal Rexnord from a "strong-buy" rating to a "buy" rating in a research report on Thursday, January 16th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Regal Rexnord presently has a consensus rating of "Moderate Buy" and an average price target of $195.13.

Regal Rexnord Stock Down 2.3 %

NYSE RRX traded down $2.76 during trading on Friday, reaching $118.03. 693,391 shares of the company's stock were exchanged, compared to its average volume of 491,018. The company has a 50 day moving average price of $136.06 and a two-hundred day moving average price of $155.56. 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 stock has a market cap of $7.82 billion, a P/E ratio of 40.01, a price-to-earnings-growth ratio of 1.37 and a beta of 1.11. Regal Rexnord Co. has a 1 year low of $113.73 and a 1 year high of $185.28.

Regal Rexnord (NYSE:RRX - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The company reported $2.34 EPS for the quarter, missing the consensus estimate 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, equities research analysts anticipate that Regal Rexnord Co. will post 9.95 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend is Monday, March 31st. Regal Rexnord's dividend payout ratio is presently 47.46%.

Regal Rexnord 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.