Ceredex Value Advisors LLC Sells 5,900 Shares of Regal Rexnord Co. (NYSE:RRX)

Ceredex Value Advisors LLC lowered its holdings in Regal Rexnord Co. (NYSE:RRX - Free Report) by 2.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 237,475 shares of the company's stock after selling 5,900 shares during the period. Ceredex Value Advisors LLC owned approximately 0.36% of Regal Rexnord worth $39,475,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Capital World Investors boosted its stake in shares of Regal Rexnord by 4.7% in the first quarter. Capital World Investors now owns 6,599,752 shares of the company's stock valued at $1,188,615,000 after buying an additional 296,941 shares during the period. Diamond Hill Capital Management Inc. lifted its position in shares of Regal Rexnord by 7.1% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 3,181,886 shares of the company's stock valued at $430,255,000 after acquiring an additional 209,776 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Regal Rexnord by 42.7% during the 2nd quarter. Victory Capital Management Inc. now owns 1,884,575 shares of the company's stock worth $254,832,000 after purchasing an additional 563,853 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Regal Rexnord by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,422,350 shares of the company's stock worth $192,338,000 after purchasing an additional 8,159 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in Regal Rexnord by 24.7% in the second quarter. The Manufacturers Life Insurance Company now owns 1,125,445 shares of the company's stock valued at $152,183,000 after purchasing an additional 222,775 shares in the last quarter. Institutional investors and hedge funds own 99.72% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Robert W. Baird increased their price objective on shares of Regal Rexnord from $208.00 to $213.00 and gave the stock an "outperform" rating in a research note on Friday, August 2nd. The Goldman Sachs Group lifted their price objective on shares of Regal Rexnord from $176.00 to $195.00 and gave the company a "buy" rating in a research note on Friday, August 2nd. Barclays upped their target price on Regal Rexnord from $180.00 to $190.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 2nd. Loop Capital reiterated a "buy" rating and issued a $200.00 price target on shares of Regal Rexnord in a research note on Thursday, September 19th. Finally, KeyCorp dropped their price objective on Regal Rexnord from $210.00 to $190.00 and set an "overweight" rating for the company in a research report on Monday, July 15th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $193.63.

Regal Rexnord Price Performance

RRX stock traded up $2.48 during midday trading on Friday, reaching $169.02. 569,550 shares of the stock were exchanged, compared to its average volume of 370,504. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.45 and a quick ratio of 1.38. The stock has a market capitalization of $11.25 billion, a PE ratio of -8,451.00, a P/E/G ratio of 1.76 and a beta of 1.04. Regal Rexnord Co. has a 52 week low of $97.18 and a 52 week high of $183.85. The company has a fifty day moving average price of $165.12 and a 200 day moving average price of $156.11.

Regal Rexnord (NYSE:RRX - Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The company reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.15. Regal Rexnord had a positive return on equity of 9.16% and a negative net margin of 0.02%. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the prior year, the firm posted $2.56 earnings per share. The firm's revenue was down 12.5% compared to the same quarter last year. As a group, analysts expect that Regal Rexnord Co. will post 9.48 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The firm also recently declared 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. This represents a $1.40 annualized dividend and a dividend yield of 0.83%. The ex-dividend date is Tuesday, December 31st. Regal Rexnord's payout ratio is currently -7,000.00%.

Regal Rexnord Company 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.