Alliancebernstein L.P. Sells 37,864 Shares of Regal Rexnord Co. (NYSE:RRX)

Alliancebernstein L.P. decreased its holdings in Regal Rexnord Co. (NYSE:RRX) by 4.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 745,255 shares of the company’s stock after selling 37,864 shares during the period. Alliancebernstein L.P. owned about 1.13% of Regal Rexnord worth $115,611,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its position in shares of Regal Rexnord by 6.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 436,307 shares of the company’s stock worth $72,375,000 after acquiring an additional 28,278 shares in the last quarter. Geode Capital Management LLC grew its stake 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 valued at $183,195,000 after purchasing an additional 9,338 shares during the last quarter. First Hawaiian Bank bought a new position in Regal Rexnord in the fourth quarter worth about $811,000. Franklin Resources Inc. lifted its position in shares of Regal Rexnord by 7.2% during the third quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company’s stock valued at $204,254,000 after buying an additional 77,215 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Regal Rexnord by 16.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,844 shares of the company’s stock valued at $2,613,000 after buying an additional 2,414 shares in the last quarter. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Citigroup decreased their target price on shares of Regal Rexnord from $210.00 to $190.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Jefferies Financial Group started coverage on Regal Rexnord in a research report on Thursday, December 12th. They issued a “buy” rating and a $215.00 price objective for the company. Oppenheimer reduced their target price on Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. The Goldman Sachs Group lowered their price target on Regal Rexnord from $183.00 to $163.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Barclays cut their price objective 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. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $188.88.

Regal Rexnord Trading Up 6.2 %

Shares of Regal Rexnord stock opened at $121.80 on Thursday. Regal Rexnord Co. has a 1 year low of $111.15 and a 1 year 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 stock has a market cap of $8.07 billion, a PE ratio of 41.29, a price-to-earnings-growth ratio of 1.37 and a beta of 1.11. The firm has a fifty day moving average price of $133.45 and a 200 day moving average price of $154.90.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $2.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.56 by ($0.22). Regal Rexnord had a net margin of 3.25% and a return on equity of 9.57%. Equities research analysts predict that Regal Rexnord Co. will post 9.95 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The company also recently announced 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. This represents a $1.40 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend is Monday, March 31st. Regal Rexnord’s dividend payout ratio (DPR) is 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.