Regal Rexnord Co. (NYSE:RRX) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lowered its stake in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) by 18.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,994 shares of the company's stock after selling 2,317 shares during the period. PNC Financial Services Group Inc.'s holdings in Regal Rexnord were worth $1,550,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Bank Julius Baer & Co. Ltd Zurich increased its stake in Regal Rexnord by 7.4% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,111 shares of the company's stock worth $190,000 after buying an additional 77 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in shares of Regal Rexnord in the fourth quarter worth approximately $901,000. Candriam S.C.A. purchased a new stake in shares of Regal Rexnord during the fourth quarter worth approximately $3,538,000. Vestmark Advisory Solutions Inc. raised its stake in Regal Rexnord by 41.0% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 2,906 shares of the company's stock valued at $451,000 after purchasing an additional 845 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Regal Rexnord in the 4th quarter valued at $22,325,000. Institutional investors and hedge funds own 99.72% of the company's stock.

Regal Rexnord Trading Up 4.0 %

RRX traded up $4.73 during trading hours on Wednesday, reaching $123.50. The company's stock had a trading volume of 574,785 shares, compared to its average volume of 618,574. The stock has a market cap of $8.18 billion, a PE ratio of 41.86, a P/E/G ratio of 1.37 and a beta of 1.11. Regal Rexnord Co. has a fifty-two week low of $113.73 and a fifty-two week high of $185.28. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.26 and a quick ratio of 1.25. The business's 50-day moving average is $141.27 and its 200-day moving average is $157.37.

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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 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 research analysts predict that Regal Rexnord Co. will post 9.95 earnings per share 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. Stockholders 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 dividend yield of 1.13%. The ex-dividend date is Monday, March 31st. Regal Rexnord's dividend payout ratio (DPR) is 47.46%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on RRX shares. Citigroup dropped their target price on shares of Regal Rexnord from $210.00 to $190.00 and set a "buy" rating for the company in a report on Tuesday, January 14th. StockNews.com downgraded shares of Regal Rexnord from a "strong-buy" rating to a "buy" rating in a report on Thursday, January 16th. Barclays decreased their target price 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. Oppenheimer dropped their price target on Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating for the company in a research report on Friday, February 7th. Finally, The Goldman Sachs Group lifted their price objective on Regal Rexnord from $191.00 to $213.00 and gave the stock a "buy" rating in a research report on Thursday, December 12th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $195.75.

Regal Rexnord 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.