Regal Rexnord Co. (NYSE:RRX) Shares Sold by Schroder Investment Management Group

Schroder Investment Management Group trimmed its holdings in shares of Regal Rexnord Co. (NYSE:RRX) by 4.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 446,354 shares of the company’s stock after selling 20,385 shares during the quarter. Schroder Investment Management Group owned approximately 0.67% of Regal Rexnord worth $68,386,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in RRX. Norges Bank acquired a new stake in Regal Rexnord in the 4th quarter valued at about $235,188,000. Point72 Asset Management L.P. acquired a new stake in shares of Regal Rexnord in the third quarter valued at approximately $83,460,000. Victory Capital Management Inc. lifted its position in Regal Rexnord by 20.1% during the fourth quarter. Victory Capital Management Inc. now owns 2,176,963 shares of the company’s stock worth $337,712,000 after buying an additional 363,728 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Regal Rexnord by 56.8% during the fourth quarter. JPMorgan Chase & Co. now owns 683,980 shares of the company’s stock worth $106,106,000 after buying an additional 247,673 shares during the last quarter. Finally, TimesSquare Capital Management LLC grew 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 buying an additional 232,509 shares in the last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.

Analyst Ratings Changes

RRX has been the topic of several analyst reports. Oppenheimer reduced their price target on Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Citigroup decreased 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. StockNews.com downgraded shares of Regal Rexnord from a “buy” rating to a “hold” rating in a report on Monday. Barclays decreased their price objective on Regal Rexnord from $160.00 to $155.00 and set an “overweight” rating on the stock in a report on Wednesday, March 26th. Finally, Jefferies Financial Group assumed coverage on Regal Rexnord in a research note on Thursday, December 12th. They set a “buy” rating and a $215.00 target price for the company. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $195.13.

Regal Rexnord Stock Down 3.6 %

Shares of NYSE RRX opened at $113.80 on Tuesday. The company has a quick ratio of 1.25, a current ratio of 2.26 and a debt-to-equity ratio of 0.87. The business’s 50 day moving average is $135.21 and its two-hundred day moving average is $155.42. Regal Rexnord Co. has a 52-week low of $111.15 and a 52-week high of $185.28. The firm has a market cap of $7.54 billion, a price-to-earnings ratio of 38.57, a PEG ratio of 1.37 and a beta of 1.11.

Regal Rexnord (NYSE:RRX) last posted 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%. Research analysts predict that Regal Rexnord Co. will post 9.95 EPS for the current year.

Regal Rexnord Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.23%. The ex-dividend date is Monday, March 31st. Regal Rexnord’s payout ratio is 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.