Regal Rexnord Co. (NYSE:RRX) Shares Sold by Segall Bryant & Hamill LLC

Segall Bryant & Hamill LLC trimmed its position in shares of Regal Rexnord Co. (NYSE:RRX) by 86.6% in the 4th quarter, according to its most recent disclosure with the SEC. 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 approximately 0.06% of Regal Rexnord worth $5,931,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. acquired a new stake in shares of Regal Rexnord in the third quarter valued at about $83,460,000. Victory Capital Management Inc. grew its stake in Regal Rexnord by 20.1% during the 4th quarter. Victory Capital Management Inc. now owns 2,176,963 shares of the company’s stock valued at $337,712,000 after acquiring an additional 363,728 shares in the last quarter. TimesSquare Capital Management LLC raised its holdings in Regal Rexnord by 35.7% in the 4th quarter. TimesSquare Capital Management LLC now owns 884,095 shares of the company’s stock valued at $137,150,000 after acquiring an additional 232,509 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Regal Rexnord in the 4th quarter worth approximately $22,325,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Regal Rexnord by 6.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,289,917 shares of the company’s stock worth $213,971,000 after purchasing an additional 83,823 shares during the last quarter. 99.72% of the stock is owned by institutional investors and hedge funds.

Regal Rexnord Stock Performance

Shares of RRX stock opened at $122.82 on Thursday. Regal Rexnord Co. has a one year low of $113.73 and a one year high of $185.28. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.25 and a current ratio of 2.26. The firm’s 50 day moving average price is $137.58 and its 200-day moving average price is $156.01. The firm has a market cap of $8.14 billion, a P/E ratio of 41.63, a P/E/G ratio of 1.37 and a beta of 1.11.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings results on Wednesday, February 5th. The company reported $2.34 EPS 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%. As a group, equities research analysts predict that Regal Rexnord Co. will post 9.95 EPS for the current year.

Regal Rexnord Dividend Announcement

The firm 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 dividend of $0.35 per share. 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 1.14%. Regal Rexnord’s dividend payout ratio (DPR) is presently 47.46%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on RRX shares. Oppenheimer reduced their price objective 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 boosted their price target on shares of Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Citigroup cut their price objective 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 assumed coverage on shares of Regal Rexnord in a report on Thursday, December 12th. They issued a “buy” rating and a $215.00 target price on the stock. Finally, Barclays cut their price target on shares of Regal Rexnord from $160.00 to $155.00 and set an “overweight” rating for the company in a report on Wednesday. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $195.13.

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.