Orion Portfolio Solutions LLC Sells 628 Shares of Regal Rexnord Co. (NYSE:RRX)

Orion Portfolio Solutions LLC lowered its stake in Regal Rexnord Co. (NYSE:RRX) by 4.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,119 shares of the company’s stock after selling 628 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Regal Rexnord were worth $1,880,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in RRX. iA Global Asset Management Inc. lifted its stake in Regal Rexnord by 2.7% in the 3rd quarter. iA Global Asset Management Inc. now owns 2,626 shares of the company’s stock valued at $436,000 after purchasing an additional 68 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its stake in shares of Regal Rexnord by 7.4% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,111 shares of the company’s stock valued at $190,000 after acquiring an additional 77 shares during the last quarter. Moors & Cabot Inc. boosted its holdings in shares of Regal Rexnord by 4.1% during the 4th quarter. Moors & Cabot Inc. now owns 2,139 shares of the company’s stock valued at $332,000 after acquiring an additional 85 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its position in Regal Rexnord by 30.3% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company’s stock worth $71,000 after acquiring an additional 100 shares during the last quarter. Finally, CIBC Asset Management Inc increased its holdings in Regal Rexnord by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 2,061 shares of the company’s stock worth $320,000 after purchasing an additional 101 shares in the last quarter. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on RRX. Barclays cut their price target on Regal Rexnord from $160.00 to $155.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 26th. Citigroup reduced their target price on shares of Regal Rexnord from $210.00 to $190.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Oppenheimer dropped their price target on shares of Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Jefferies Financial Group initiated coverage on shares of Regal Rexnord in a research note on Thursday, December 12th. They issued a “buy” rating and a $215.00 price objective on the stock. Finally, The Goldman Sachs Group lowered their target price on Regal Rexnord from $183.00 to $163.00 and set a “buy” rating for the company in a research report on Wednesday. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $188.88.

Regal Rexnord Stock Performance

Shares of Regal Rexnord stock opened at $121.80 on Thursday. The company has a market cap of $8.07 billion, a P/E ratio of 41.29, a PEG 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. The business has a 50-day moving average price of $133.45 and a two-hundred day moving average price of $154.90. Regal Rexnord Co. has a 1-year low of $111.15 and a 1-year high of $185.28.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings results 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%. As a group, analysts anticipate that Regal Rexnord Co. will post 9.95 EPS for the current year.

Regal Rexnord Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.15%. The ex-dividend date is Monday, March 31st. Regal Rexnord’s dividend payout ratio (DPR) is currently 47.46%.

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.