Fisher Asset Management LLC Cuts Stock Holdings in Regal Rexnord Co. (NYSE:RRX)

Fisher Asset Management LLC lowered its stake in Regal Rexnord Co. (NYSE:RRX - Free Report) by 3.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 384,639 shares of the company's stock after selling 15,582 shares during the quarter. Fisher Asset Management LLC owned 0.58% of Regal Rexnord worth $59,669,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. State Street Corp grew its holdings in Regal Rexnord by 1.3% in the 3rd quarter. State Street Corp now owns 1,972,866 shares of the company's stock worth $327,944,000 after acquiring an additional 24,860 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Regal Rexnord by 6.9% during 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 period. Franklin Resources Inc. increased its holdings in Regal Rexnord by 7.2% during the 3rd quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company's stock valued at $204,254,000 after purchasing an additional 77,215 shares during the period. The Manufacturers Life Insurance Company raised its position in Regal Rexnord by 1.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,137,746 shares of the company's stock valued at $188,729,000 after purchasing an additional 12,301 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Regal Rexnord by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,104,090 shares of the company's stock worth $183,195,000 after buying an additional 9,338 shares during the period. Hedge funds and other institutional investors own 99.72% of the company's stock.

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Regal Rexnord Stock Up 3.5 %

Regal Rexnord stock traded up $4.16 during mid-day trading on Wednesday, hitting $124.17. The company had a trading volume of 610,596 shares, compared to its average volume of 620,955. Regal Rexnord Co. has a 12 month low of $117.18 and a 12 month 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 moving average price is $148.71 and its two-hundred day moving average price is $160.48. The company has a market capitalization of $8.23 billion, a PE ratio of 42.09, a price-to-earnings-growth ratio of 1.37 and a beta of 1.03.

Regal Rexnord (NYSE:RRX - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $2.34 EPS 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 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.13%. The ex-dividend date is Monday, March 31st. Regal Rexnord's dividend payout ratio is 47.46%.

Analyst Ratings Changes

RRX has been the subject of a number of recent analyst reports. StockNews.com downgraded Regal Rexnord from a "strong-buy" rating to a "buy" rating in a report on Thursday, January 16th. Jefferies Financial Group began coverage on shares of Regal Rexnord in a report on Thursday, December 12th. They issued a "buy" rating and a $215.00 price objective for the company. Oppenheimer cut their target price on shares of Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating on the stock in a research note on Friday, February 7th. The Goldman Sachs Group increased their price target on shares of Regal Rexnord from $191.00 to $213.00 and gave the stock a "buy" rating in a research note on Thursday, December 12th. Finally, Robert W. Baird cut their price objective on Regal Rexnord from $223.00 to $208.00 and set an "outperform" rating on the stock in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Regal Rexnord currently has an average rating of "Moderate Buy" and a consensus target price of $197.75.

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.