Regal Rexnord Co. (NYSE:RRX) Short Interest Update

Regal Rexnord Co. (NYSE:RRX - Get Free Report) was the target of a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 1,460,000 shares, an increase of 15.9% from the February 13th total of 1,260,000 shares. Based on an average daily volume of 564,900 shares, the short-interest ratio is presently 2.6 days. Approximately 2.2% of the shares of the company are sold short.

Analyst Ratings Changes

RRX has been the topic of a number of analyst reports. Oppenheimer lowered their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating on the stock in a research report on Friday, February 7th. Barclays dropped their price target on shares of Regal Rexnord from $176.00 to $160.00 and set an "overweight" rating on the stock in a research note on Monday, March 10th. Jefferies Financial Group began coverage on shares of Regal Rexnord in a research report on Thursday, December 12th. They issued a "buy" rating and a $215.00 price objective for the company. StockNews.com cut Regal Rexnord from a "strong-buy" rating to a "buy" rating in a research report on Thursday, January 16th. Finally, The Goldman Sachs Group raised their price target on Regal Rexnord from $191.00 to $213.00 and gave the company a "buy" rating in a report on Thursday, December 12th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $195.75.

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Hedge Funds Weigh In On Regal Rexnord

Several hedge funds have recently bought and sold shares of RRX. JPMorgan Chase & Co. increased its position in Regal Rexnord by 6.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 436,307 shares of the company's stock worth $72,375,000 after purchasing an additional 28,278 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Regal Rexnord by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,104,090 shares of the company's stock worth $183,195,000 after purchasing an additional 9,338 shares during the last quarter. First Hawaiian Bank purchased a new stake in shares of Regal Rexnord during the fourth quarter worth about $811,000. PNC Financial Services Group Inc. raised its position in shares of Regal Rexnord by 29.2% in the third quarter. PNC Financial Services Group Inc. now owns 12,311 shares of the company's stock valued at $2,042,000 after buying an additional 2,783 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of Regal Rexnord by 7.2% during the third quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company's stock valued at $204,254,000 after buying an additional 77,215 shares during the period. Hedge funds and other institutional investors own 99.72% of the company's stock.

Regal Rexnord Price Performance

Regal Rexnord stock traded down $2.71 during trading hours on Friday, hitting $120.82. The stock had a trading volume of 826,550 shares, compared to its average volume of 481,763. Regal Rexnord has a 1-year low of $113.73 and a 1-year high of $185.28. The stock has a market capitalization of $8.01 billion, a price-to-earnings ratio of 40.96, a PEG ratio of 1.37 and a beta of 1.11. The stock's fifty day moving average is $139.44 and its two-hundred day moving average is $156.57. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.26 and a quick ratio of 1.25.

Regal Rexnord (NYSE:RRX - Get Free Report) last posted its 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 net margin of 3.25% and a return on equity of 9.57%. As a group, analysts predict that Regal Rexnord will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The business also recently announced 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. This represents a $1.40 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend is Monday, March 31st. Regal Rexnord's payout ratio is currently 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.