Capital World Investors Lowers Stock Position in Regal Rexnord Co. (NYSE:RRX)

Capital World Investors reduced its stake in Regal Rexnord Co. (NYSE:RRX) by 7.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 6,289,322 shares of the company’s stock after selling 497,410 shares during the quarter. Capital World Investors owned 0.09% of Regal Rexnord worth $975,662,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in RRX. HighTower Advisors LLC raised its holdings in shares of Regal Rexnord by 7.3% in the 3rd quarter. HighTower Advisors LLC now owns 2,451 shares of the company’s stock valued at $403,000 after buying an additional 167 shares during the period. Tidal Investments LLC lifted its position in shares of Regal Rexnord by 4.8% during the third quarter. Tidal Investments LLC now owns 7,605 shares of the company’s stock worth $1,262,000 after purchasing an additional 347 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Regal Rexnord by 7.2% in the third quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company’s stock valued at $204,254,000 after purchasing an additional 77,215 shares during the period. American Trust grew its holdings in shares of Regal Rexnord by 11.5% in the third quarter. American Trust now owns 1,797 shares of the company’s stock valued at $298,000 after purchasing an additional 185 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Regal Rexnord by 6.9% during the 3rd 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 during the period. Institutional investors and hedge funds own 99.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on RRX shares. KeyCorp dropped their price target on shares of Regal Rexnord from $180.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. The Goldman Sachs Group cut their price target on Regal Rexnord from $183.00 to $163.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. Citigroup decreased their price objective on Regal Rexnord from $170.00 to $110.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. StockNews.com lowered shares of Regal Rexnord from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Barclays decreased their price target on shares of Regal Rexnord from $160.00 to $155.00 and set an “overweight” rating for the company in a research note on Wednesday, March 26th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Regal Rexnord presently has an average rating of “Moderate Buy” and an average target price of $170.75.

Regal Rexnord Stock Up 1.8 %

RRX stock opened at $98.38 on Friday. The company’s 50 day moving average is $118.11 and its two-hundred day moving average is $148.46. Regal Rexnord Co. has a twelve month low of $90.56 and a twelve month high of $185.28. 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 stock has a market cap of $6.52 billion, a P/E ratio of 33.35, a PEG ratio of 1.37 and a beta of 1.09.

Regal Rexnord (NYSE:RRX) last announced 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 net margin of 3.25% and a return on equity of 9.57%. Research analysts expect that Regal Rexnord Co. will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 14th. Shareholders of record on Monday, March 31st were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.42%. The ex-dividend date was 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.