Regal Rexnord Co. (NYSE:RRX) Stake Cut by Diamond Hill Capital Management Inc.

Diamond Hill Capital Management Inc. decreased its position in Regal Rexnord Co. (NYSE:RRX - Free Report) by 8.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,908,349 shares of the company's stock after selling 257,963 shares during the quarter. Regal Rexnord accounts for about 2.0% of Diamond Hill Capital Management Inc.'s holdings, making the stock its 13th biggest holding. Diamond Hill Capital Management Inc. owned 4.39% of Regal Rexnord worth $451,172,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in RRX. Skandinaviska Enskilda Banken AB publ increased its stake in Regal Rexnord by 472.4% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company's stock valued at $25,000 after purchasing an additional 137 shares during the last quarter. Tobam purchased a new position in shares of Regal Rexnord during the fourth quarter worth approximately $45,000. Jones Financial Companies Lllp grew its position in shares of Regal Rexnord by 90.5% during the fourth quarter. Jones Financial Companies Lllp now owns 322 shares of the company's stock worth $50,000 after acquiring an additional 153 shares during the last quarter. Smartleaf Asset Management LLC grew its position in shares of Regal Rexnord by 45.3% during 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. Finally, Nomura Asset Management Co. Ltd. grew its position in shares of Regal Rexnord by 30.3% during the third quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company's stock worth $71,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 99.72% of the company's stock.

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Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Citigroup decreased their price target on Regal Rexnord from $210.00 to $190.00 and set a "buy" rating for the company in a report on Tuesday, January 14th. Oppenheimer decreased their price target on Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating for the company in a report on Friday, February 7th. Barclays decreased their price target on Regal Rexnord from $176.00 to $160.00 and set an "overweight" rating for the company in a report on Monday, March 10th. The Goldman Sachs Group increased their price target on Regal Rexnord from $191.00 to $213.00 and gave the stock a "buy" rating in a report on Thursday, December 12th. Finally, Jefferies Financial Group initiated coverage on Regal Rexnord in a report on Thursday, December 12th. They issued a "buy" rating and a $215.00 target price for the company. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Regal Rexnord presently has a consensus rating of "Moderate Buy" and a consensus price target of $195.75.

Regal Rexnord Stock Up 0.2 %

NYSE RRX traded up $0.29 on Tuesday, reaching $118.70. The company had a trading volume of 437,713 shares, compared to its average volume of 475,330. The firm has a market capitalization of $7.87 billion, a PE ratio of 40.24, a P/E/G 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. The firm has a 50-day moving average of $142.02 and a 200-day moving average of $157.71. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.26 and a quick ratio of 1.25.

Regal Rexnord (NYSE:RRX - Get Free Report) last released its quarterly 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, 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 announced a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Monday, March 31st. Regal Rexnord's dividend payout ratio (DPR) is currently 47.46%.

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.