Legal & General Group Plc Sells 10,867 Shares of Regal Rexnord Co. (NYSE:RRX)

Legal & General Group Plc trimmed its position in Regal Rexnord Co. (NYSE:RRX - Free Report) by 9.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 107,044 shares of the company's stock after selling 10,867 shares during the quarter. Legal & General Group Plc owned 0.16% of Regal Rexnord worth $16,606,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in RRX. Norges Bank bought a new stake in shares of Regal Rexnord in the fourth quarter worth about $235,188,000. Victory Capital Management Inc. raised its holdings in shares of Regal Rexnord by 20.1% during the fourth quarter. Victory Capital Management Inc. now owns 2,176,963 shares of the company's stock valued at $337,712,000 after acquiring an additional 363,728 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Regal Rexnord by 56.8% in the fourth quarter. JPMorgan Chase & Co. now owns 683,980 shares of the company's stock valued at $106,106,000 after acquiring an additional 247,673 shares in the last quarter. TimesSquare Capital Management LLC raised its holdings in Regal Rexnord by 35.7% in the 4th quarter. TimesSquare Capital Management LLC now owns 884,095 shares of the company's stock worth $137,150,000 after purchasing an additional 232,509 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Regal Rexnord in the 4th quarter worth about $22,325,000. Hedge funds and other institutional investors own 99.72% of the company's stock.

Analyst Upgrades and Downgrades

RRX has been the topic of several research reports. Barclays cut their price objective on Regal Rexnord from $160.00 to $155.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 26th. StockNews.com cut shares of Regal Rexnord from a "buy" rating to a "hold" rating in a research report on Wednesday. Oppenheimer cut their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating on the stock in a report on Friday, February 7th. The Goldman Sachs Group dropped their price target on Regal Rexnord from $183.00 to $163.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Finally, KeyCorp reduced their price objective on Regal Rexnord from $180.00 to $125.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Regal Rexnord currently has an average rating of "Moderate Buy" and a consensus target price of $170.75.

Regal Rexnord Stock Performance

NYSE RRX traded up $1.74 during trading hours on Friday, hitting $98.38. The company's stock had a trading volume of 839,476 shares, compared to its average volume of 531,527. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.26 and a quick ratio of 1.25. The company has a market cap of $6.52 billion, a P/E ratio of 33.35, a price-to-earnings-growth ratio of 1.37 and a beta of 1.09. The company's 50 day simple moving average is $118.11 and its two-hundred day simple moving average is $148.57. Regal Rexnord Co. has a 12 month low of $90.56 and a 12 month high of $185.28.

Regal Rexnord (NYSE:RRX - Get Free Report) last posted its quarterly earnings data 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 expect that Regal Rexnord Co. will post 9.95 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 14th. Stockholders of record on Monday, March 31st were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date was Monday, March 31st. Regal Rexnord's payout ratio is 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.