Fmr LLC Has $885 Million Position in Regal Rexnord Co. (NYSE:RRX)

FMR LLC decreased its position in Regal Rexnord Co. (NYSE:RRX - Free Report) by 5.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,704,886 shares of the company's stock after selling 315,773 shares during the period. FMR LLC owned about 8.61% of Regal Rexnord worth $884,999,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of RRX. JPMorgan Chase & Co. lifted its holdings in Regal Rexnord by 6.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 436,307 shares of the company's stock valued at $72,375,000 after purchasing an additional 28,278 shares during the last quarter. Geode Capital Management LLC increased its position in Regal Rexnord by 0.9% in the third 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 period. First Hawaiian Bank bought a new stake in shares of Regal Rexnord during the fourth quarter worth approximately $811,000. Franklin Resources Inc. lifted its stake in shares of Regal Rexnord by 7.2% in the 3rd quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company's stock valued at $204,254,000 after purchasing an additional 77,215 shares during the period. Finally, Atria Investments Inc lifted its stake in Regal Rexnord by 48.9% in the fourth quarter. Atria Investments Inc now owns 2,310 shares of the company's stock valued at $358,000 after buying an additional 759 shares during the period. 99.72% of the stock is currently owned by institutional investors.

Regal Rexnord Stock Performance

NYSE:RRX traded up $2.40 during mid-day trading on Friday, hitting $99.08. 1,542,639 shares of the stock were exchanged, compared to its average volume of 525,056. 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 firm's 50-day simple moving average is $122.43 and its 200 day simple moving average is $150.68. Regal Rexnord Co. has a fifty-two week low of $90.56 and a fifty-two week high of $185.28. The stock has a market capitalization of $6.57 billion, a price-to-earnings ratio of 33.59, a price-to-earnings-growth ratio of 1.37 and a beta of 1.09.

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 analysts' consensus estimates of $2.56 by ($0.22). Regal Rexnord had a return on equity of 9.57% and a net margin of 3.25%. As a group, equities analysts anticipate that Regal Rexnord Co. will post 9.95 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend is Monday, March 31st. Regal Rexnord's payout ratio is currently 47.46%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. KeyCorp decreased their price objective on shares of Regal Rexnord from $180.00 to $125.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. StockNews.com upgraded shares of Regal Rexnord from a "hold" rating to a "buy" rating in a research report on Tuesday, April 8th. Citigroup lowered their target price on Regal Rexnord from $170.00 to $110.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. The Goldman Sachs Group lowered 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, Barclays reduced their target price on Regal Rexnord from $160.00 to $155.00 and set an "overweight" rating for the company in a research note on Wednesday, March 26th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Regal Rexnord presently has an average rating of "Moderate Buy" and an average price target 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.