Regal Rexnord Co. (NYSE:RRX) Shares Sold by Schroder Investment Management Group

Schroder Investment Management Group lowered its position in Regal Rexnord Co. (NYSE:RRX - Free Report) by 4.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 446,354 shares of the company's stock after selling 20,385 shares during the quarter. Schroder Investment Management Group owned about 0.67% of Regal Rexnord worth $68,386,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Norges Bank bought a new position in Regal Rexnord in the 4th quarter valued at $235,188,000. Point72 Asset Management L.P. bought a new position in shares of Regal Rexnord in the third quarter worth about $83,460,000. Victory Capital Management Inc. increased its stake in Regal Rexnord by 20.1% in the 4th quarter. Victory Capital Management Inc. now owns 2,176,963 shares of the company's stock worth $337,712,000 after buying an additional 363,728 shares during the period. JPMorgan Chase & Co. lifted its holdings in Regal Rexnord by 56.8% during the 4th quarter. JPMorgan Chase & Co. now owns 683,980 shares of the company's stock valued at $106,106,000 after buying an additional 247,673 shares in the last quarter. Finally, TimesSquare Capital Management LLC boosted its position in Regal Rexnord by 35.7% in the 4th quarter. TimesSquare Capital Management LLC now owns 884,095 shares of the company's stock valued at $137,150,000 after buying an additional 232,509 shares during the period. 99.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RRX has been the subject of a number of research reports. Barclays lowered their price target on Regal Rexnord from $160.00 to $155.00 and set an "overweight" rating for the company in a report on Wednesday, March 26th. StockNews.com lowered Regal Rexnord from a "buy" rating to a "hold" rating in a research note on Monday. Oppenheimer decreased their price objective on Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating for the company in a report on Friday, February 7th. The Goldman Sachs Group cut their target price on shares of Regal Rexnord from $183.00 to $163.00 and set a "buy" rating on the stock in a research report on Wednesday. Finally, Jefferies Financial Group initiated coverage on shares of Regal Rexnord in a research report on Thursday, December 12th. They issued a "buy" rating and a $215.00 price target for the company. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Regal Rexnord presently has an average rating of "Moderate Buy" and an average price target of $188.88.

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Regal Rexnord Price Performance

Shares of NYSE:RRX traded down $6.36 during midday trading on Friday, reaching $96.35. 879,135 shares of the company's stock traded hands, compared to its average volume of 501,607. The company has a fifty day simple moving average of $132.16 and a two-hundred day simple moving average of $154.54. 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 market cap of $6.39 billion, a P/E ratio of 32.49, a PEG ratio of 1.37 and a beta of 1.11. Regal Rexnord Co. has a 1 year low of $92.71 and a 1 year high of $185.28.

Regal Rexnord (NYSE:RRX - Get Free Report) last issued its quarterly earnings data 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 return on equity of 9.57% and a net margin of 3.25%. Equities analysts predict that Regal Rexnord Co. will post 9.95 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be given a dividend of $0.35 per share. The ex-dividend date is Monday, March 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.45%. Regal Rexnord's payout ratio is currently 47.46%.

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.