Massachusetts Financial Services Co. MA Sells 38,124 Shares of Regal Rexnord Co. (NYSE:RRX)

Massachusetts Financial Services Co. MA lessened its holdings in Regal Rexnord Co. (NYSE:RRX - Free Report) by 1.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,766,805 shares of the company's stock after selling 38,124 shares during the quarter. Massachusetts Financial Services Co. MA owned 4.18% of Regal Rexnord worth $429,214,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Norges Bank bought a new stake in Regal Rexnord during the 4th quarter worth about $235,188,000. Point72 Asset Management L.P. bought a new stake in Regal Rexnord during the third quarter worth about $83,460,000. Victory Capital Management Inc. raised its holdings in Regal Rexnord by 20.1% during the fourth quarter. Victory Capital Management Inc. now owns 2,176,963 shares of the company's stock worth $337,712,000 after acquiring an additional 363,728 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Regal Rexnord by 56.8% during the fourth quarter. JPMorgan Chase & Co. now owns 683,980 shares of the company's stock valued at $106,106,000 after purchasing an additional 247,673 shares during the last quarter. Finally, TimesSquare Capital Management LLC grew its stake in Regal Rexnord by 35.7% in the fourth quarter. TimesSquare Capital Management LLC now owns 884,095 shares of the company's stock valued at $137,150,000 after purchasing an additional 232,509 shares in the last quarter. Institutional investors and hedge funds own 99.72% of the company's stock.

Regal Rexnord Stock Performance

RRX stock traded down $3.94 during mid-day trading on Friday, hitting $98.77. 1,534,768 shares of the company were exchanged, compared to its average volume of 504,749. Regal Rexnord Co. has a 1-year low of $92.71 and a 1-year high of $185.28. The stock has a market capitalization of $6.55 billion, a PE ratio of 33.48, a price-to-earnings-growth ratio of 1.37 and a beta of 1.11. The business has a 50 day simple moving average of $132.16 and a 200-day simple moving average of $154.54. The company has a current ratio of 2.26, a quick ratio of 1.25 and a debt-to-equity ratio of 0.87.

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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 the consensus estimate 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 analysts forecast that Regal Rexnord Co. will post 9.95 earnings per share for the current year.

Regal Rexnord Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be paid a $0.35 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.40 annualized dividend and a dividend yield of 1.42%. Regal Rexnord's dividend payout ratio (DPR) is presently 47.46%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on RRX shares. Oppenheimer decreased their target price on shares of Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating for the company in a research note on Friday, February 7th. Citigroup decreased their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set a "buy" rating for the company in a research report on Tuesday, January 14th. StockNews.com lowered shares of Regal Rexnord from a "buy" rating to a "hold" rating in a research note on Monday. The Goldman Sachs Group cut their target price on shares of Regal Rexnord from $183.00 to $163.00 and set a "buy" rating for the company in a research note on Wednesday. Finally, Barclays lowered their price target 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. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, Regal Rexnord has an average rating of "Moderate Buy" and an average target price of $188.88.

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.