Corient Private Wealth LLC Cuts Stock Position in Regal Rexnord Co. (NYSE:RRX)

Corient Private Wealth LLC decreased its holdings in Regal Rexnord Co. (NYSE:RRX - Free Report) by 34.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,288 shares of the company's stock after selling 3,324 shares during the quarter. Corient Private Wealth LLC's holdings in Regal Rexnord were worth $976,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of RRX. iA Global Asset Management Inc. grew its holdings in shares of Regal Rexnord by 2.7% in the third quarter. iA Global Asset Management Inc. now owns 2,626 shares of the company's stock worth $436,000 after acquiring an additional 68 shares during the period. Bank Julius Baer & Co. Ltd Zurich grew its stake in shares of 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 purchasing an additional 77 shares during the period. Moors & Cabot Inc. increased its position in shares of Regal Rexnord by 4.1% during the 4th quarter. Moors & Cabot Inc. now owns 2,139 shares of the company's stock valued at $332,000 after purchasing an additional 85 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in shares of Regal Rexnord by 30.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company's stock worth $71,000 after purchasing an additional 100 shares during the period. Finally, CIBC Asset Management Inc boosted its holdings in shares of Regal Rexnord by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 2,061 shares of the company's stock worth $320,000 after buying an additional 101 shares during the last quarter. Institutional investors own 99.72% of the company's stock.

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Analysts Set New Price Targets

Several research analysts have recently weighed in on RRX shares. StockNews.com cut shares of Regal Rexnord from a "strong-buy" rating to a "buy" rating in a research note on Thursday, January 16th. Citigroup cut their price objective on Regal Rexnord from $210.00 to $190.00 and set a "buy" rating for the company in a research note on Tuesday, January 14th. Barclays decreased their target price on shares of Regal Rexnord from $160.00 to $155.00 and set an "overweight" rating on the stock in a research note on Wednesday. Oppenheimer dropped their price target on shares of Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating for the company in a research report on Friday, February 7th. Finally, Jefferies Financial Group began coverage on shares of Regal Rexnord in a research report on Thursday, December 12th. They set a "buy" rating and a $215.00 price objective on the stock. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $195.13.

Regal Rexnord Price Performance

RRX stock traded down $2.76 during mid-day trading on Friday, hitting $118.03. The company had a trading volume of 693,391 shares, compared to its average volume of 491,018. The company has a 50-day moving average price of $136.06 and a 200 day moving average price of $155.62. Regal Rexnord Co. has a 12-month low of $113.73 and a 12-month high of $185.28. The company has a market capitalization of $7.82 billion, a price-to-earnings ratio of 40.01, a P/E/G ratio of 1.37 and a beta of 1.11. The company has a quick ratio of 1.25, a current ratio of 2.26 and a debt-to-equity ratio of 0.87.

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 return on equity of 9.57% and a net margin of 3.25%. On average, research analysts anticipate that Regal Rexnord Co. will post 9.95 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be issued a $0.35 dividend. 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 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.