Regal Rexnord Co. (NYSE:RRX) Shares Sold by Capital World Investors

Capital World Investors cut its holdings in Regal Rexnord Co. (NYSE:RRX - Free Report) by 7.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,289,322 shares of the company's stock after selling 497,410 shares during the period. Capital World Investors owned approximately 9.50% of Regal Rexnord worth $975,662,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of RRX. Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of Regal Rexnord by 472.4% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company's stock worth $25,000 after purchasing an additional 137 shares during the period. Bernard Wealth Management Corp. purchased a new position in shares of Regal Rexnord in the fourth quarter worth approximately $30,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Regal Rexnord in the fourth quarter worth $33,000. Tobam bought a new position in shares of Regal Rexnord during the 4th quarter valued at approximately $45,000. Finally, Jones Financial Companies Lllp raised its stake in Regal Rexnord by 90.5% during the fourth quarter. Jones Financial Companies Lllp now owns 322 shares of the company's stock valued at $50,000 after purchasing an additional 153 shares in the last quarter. 99.72% of the stock is owned by hedge funds and other institutional investors.

Regal Rexnord Trading Up 3.6 %

Shares of NYSE RRX traded up $3.70 during midday trading on Thursday, reaching $106.29. 603,686 shares of the stock were exchanged, compared to its average volume of 721,794. The stock has a market capitalization of $7.04 billion, a P/E ratio of 36.03, a PEG ratio of 1.37 and a beta of 1.09. Regal Rexnord Co. has a twelve month low of $90.56 and a twelve month high of $185.28. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.25 and a current ratio of 2.26. The company has a 50 day simple moving average of $115.90 and a 200 day simple moving average of $147.23.

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 (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, equities analysts expect that Regal Rexnord Co. will post 9.95 earnings per share for the current year.

Regal Rexnord Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 14th. Stockholders of record on Monday, March 31st were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.32%. The ex-dividend date was Monday, March 31st. Regal Rexnord's payout ratio is currently 47.46%.

Wall Street Analyst Weigh In

RRX has been the subject of several recent research reports. The Goldman Sachs Group dropped their price target on Regal Rexnord from $183.00 to $163.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Barclays cut their price target on shares of Regal Rexnord from $160.00 to $155.00 and set an "overweight" rating on the stock in a report on Wednesday, March 26th. Oppenheimer reduced their price target on Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating on the stock in a report on Friday, February 7th. Citigroup decreased their target price on Regal Rexnord from $170.00 to $110.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Finally, StockNews.com lowered shares of Regal Rexnord from a "buy" rating to a "hold" rating in a report on Wednesday, April 16th. 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 MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $170.75.

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.