Regal Rexnord Co. (NYSE:RRX) Position Lessened by Leeward Investments LLC MA

Leeward Investments LLC MA lessened its holdings in Regal Rexnord Co. (NYSE:RRX - Free Report) by 12.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 210,956 shares of the company's stock after selling 29,021 shares during the quarter. Regal Rexnord accounts for 1.6% of Leeward Investments LLC MA's investment portfolio, making the stock its 4th largest position. Leeward Investments LLC MA owned approximately 0.32% of Regal Rexnord worth $34,993,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. CANADA LIFE ASSURANCE Co lifted its holdings in Regal Rexnord by 8.0% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 58,336 shares of the company's stock worth $10,515,000 after purchasing an additional 4,342 shares in the last quarter. Blair William & Co. IL lifted its holdings in Regal Rexnord by 161.4% during the 1st quarter. Blair William & Co. IL now owns 7,770 shares of the company's stock worth $1,399,000 after purchasing an additional 4,798 shares in the last quarter. Westfield Capital Management Co. LP lifted its holdings in Regal Rexnord by 18.6% during the 1st quarter. Westfield Capital Management Co. LP now owns 302,532 shares of the company's stock worth $54,486,000 after purchasing an additional 47,379 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in Regal Rexnord by 1,036.4% during the 1st quarter. Daiwa Securities Group Inc. now owns 10,773 shares of the company's stock worth $1,940,000 after purchasing an additional 9,825 shares in the last quarter. Finally, TimesSquare Capital Management LLC raised its holdings in shares of Regal Rexnord by 64.4% in the 1st quarter. TimesSquare Capital Management LLC now owns 466,475 shares of the company's stock valued at $84,012,000 after acquiring an additional 182,770 shares in the last quarter. Institutional investors own 99.72% of the company's stock.

Regal Rexnord Price Performance

NYSE:RRX traded down $2.71 during mid-day trading on Thursday, reaching $178.89. The stock had a trading volume of 630,640 shares, compared to its average volume of 453,068. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.38 and a current ratio of 2.45. The firm has a 50 day moving average price of $165.87 and a two-hundred day moving average price of $156.53. The stock has a market capitalization of $11.90 billion, a P/E ratio of 56.43, a P/E/G ratio of 1.80 and a beta of 1.04. Regal Rexnord Co. has a one year low of $101.64 and a one year high of $185.28.

Regal Rexnord (NYSE:RRX - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The company reported $2.49 EPS for the quarter, topping analysts' consensus estimates of $2.48 by $0.01. The business had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.53 billion. Regal Rexnord had a return on equity of 9.53% and a net margin of 3.41%. The business's quarterly revenue was down 10.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.10 EPS. As a group, analysts expect that Regal Rexnord Co. will post 9.48 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.35 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.40 annualized dividend and a dividend yield of 0.78%. Regal Rexnord's dividend payout ratio (DPR) is presently 44.16%.

Wall Street Analyst Weigh In

Several analysts have weighed in on RRX shares. The Goldman Sachs Group raised their price target on Regal Rexnord from $176.00 to $195.00 and gave the company a "buy" rating in a report on Friday, August 2nd. Loop Capital reaffirmed a "buy" rating and issued a $200.00 price target on shares of Regal Rexnord in a report on Thursday, September 19th. Barclays raised their price target on Regal Rexnord from $180.00 to $190.00 and gave the company an "overweight" rating in a report on Wednesday, October 2nd. Citigroup started coverage on Regal Rexnord in a report on Monday, October 14th. They issued a "buy" rating and a $200.00 price target on the stock. Finally, Robert W. Baird lowered their price target on Regal Rexnord from $223.00 to $208.00 and set an "outperform" rating on the stock in a report on Wednesday. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $193.00.

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.