Blue Trust Inc. Lowers Position in Regal Rexnord Co. (NYSE:RRX)

Blue Trust Inc. decreased its position in Regal Rexnord Co. (NYSE:RRX) by 13.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,641 shares of the company’s stock after selling 584 shares during the period. Blue Trust Inc.’s holdings in Regal Rexnord were worth $565,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Tobam acquired a new stake in shares of Regal Rexnord in the fourth quarter valued at about $45,000. Nomura Asset Management Co. Ltd. lifted its stake in shares of Regal Rexnord by 30.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company’s stock valued at $71,000 after purchasing an additional 100 shares during the period. 1620 Investment Advisors Inc. lifted its stake in shares of Regal Rexnord by 17.4% in the third quarter. 1620 Investment Advisors Inc. now owns 452 shares of the company’s stock valued at $75,000 after purchasing an additional 67 shares during the period. GAMMA Investing LLC lifted its stake in shares of Regal Rexnord by 28.3% in the fourth quarter. GAMMA Investing LLC now owns 1,079 shares of the company’s stock valued at $167,000 after purchasing an additional 238 shares during the period. Finally, Weatherly Asset Management L. P. acquired a new stake in shares of Regal Rexnord in the third quarter valued at about $180,000. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Analyst Ratings Changes

RRX has been the subject of several recent analyst reports. StockNews.com cut shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 16th. Robert W. Baird cut their target price on shares of Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Jefferies Financial Group assumed coverage on shares of Regal Rexnord in a research report on Thursday, December 12th. They set a “buy” rating and a $215.00 target price for the company. Barclays cut their target price on shares of Regal Rexnord from $190.00 to $176.00 and set an “overweight” rating for the company in a research report on Friday. Finally, Citigroup cut 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. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Regal Rexnord presently has a consensus rating of “Moderate Buy” and a consensus price target of $197.75.

Regal Rexnord Stock Performance

NYSE:RRX opened at $137.31 on Monday. The firm has a 50 day simple moving average of $156.24 and a 200-day simple moving average of $162.31. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.26 and a quick ratio of 1.35. The firm has a market cap of $9.09 billion, a PE ratio of 46.55, a P/E/G ratio of 1.38 and a beta of 1.03. Regal Rexnord Co. has a 1-year low of $130.94 and a 1-year high of $185.28.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings data 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%. On average, equities analysts expect that Regal Rexnord Co. will post 10.32 EPS for the current year.

Regal Rexnord Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be issued a $0.35 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.40 dividend on an annualized basis and a yield of 1.02%. Regal Rexnord’s payout ratio is 47.46%.

About Regal Rexnord

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.