Segall Bryant & Hamill LLC reduced its position in Regal Rexnord Co. (NYSE:RRX - Free Report) by 86.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,231 shares of the company's stock after selling 246,619 shares during the quarter. Segall Bryant & Hamill LLC owned 0.06% of Regal Rexnord worth $5,931,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its stake in Regal Rexnord by 6.9% in the third quarter. JPMorgan Chase & Co. now owns 436,307 shares of the company's stock worth $72,375,000 after buying an additional 28,278 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Regal Rexnord by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,104,090 shares of the company's stock valued at $183,195,000 after purchasing an additional 9,338 shares in the last quarter. First Hawaiian Bank bought a new position in shares of Regal Rexnord during the 4th quarter valued at $811,000. Franklin Resources Inc. lifted its stake in Regal Rexnord by 7.2% in the third quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company's stock worth $204,254,000 after purchasing an additional 77,215 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Regal Rexnord by 1.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 431,774 shares of the company's stock valued at $71,623,000 after buying an additional 4,752 shares during the period. 99.72% of the stock is currently owned by institutional investors.
Regal Rexnord Trading Down 2.3 %
Shares of NYSE RRX traded down $2.76 during mid-day trading on Friday, reaching $118.03. The company had a trading volume of 693,391 shares, compared to its average volume of 491,018. Regal Rexnord Co. has a 52 week low of $113.73 and a 52 week high of $185.28. The business's 50-day moving average is $136.06 and its 200-day moving average is $155.62. The stock has a market cap of $7.82 billion, a price-to-earnings ratio of 40.01, a price-to-earnings-growth ratio of 1.37 and a beta of 1.11. The company has a current ratio of 2.26, a quick ratio of 1.25 and a debt-to-equity ratio of 0.87.
Regal Rexnord (NYSE:RRX - Get Free Report) last issued 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 return on equity of 9.57% and a net margin of 3.25%. Equities analysts expect that Regal Rexnord Co. will post 9.95 earnings per share for the current year.
Regal Rexnord Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.35 per share. The ex-dividend date is Monday, March 31st. This represents a $1.40 annualized dividend and a dividend yield of 1.19%. Regal Rexnord's dividend payout ratio (DPR) is currently 47.46%.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on the company. StockNews.com lowered Regal Rexnord from a "strong-buy" rating to a "buy" rating in a research note on Thursday, January 16th. Jefferies Financial Group assumed 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 on the stock. Barclays cut their target price on Regal Rexnord from $160.00 to $155.00 and set an "overweight" rating on the stock in a research note on Wednesday. Oppenheimer lowered 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, Citigroup cut their price objective on Regal Rexnord from $210.00 to $190.00 and set a "buy" rating on the stock in a research report on Tuesday, January 14th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $195.13.
Get Our Latest Stock Analysis on RRX
About Regal Rexnord
(
Free Report)
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.
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