Regal Rexnord Co. (NYSE:RRX) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. cut its position in shares of Regal Rexnord Co. (NYSE:RRX) by 0.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,753,711 shares of the company’s stock after selling 7,640 shares during the period. Vanguard Group Inc. owned 10.20% of Regal Rexnord worth $1,047,703,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its stake in shares of 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 acquiring an additional 28,278 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Regal Rexnord by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,104,090 shares of the company’s stock valued at $183,195,000 after purchasing an additional 9,338 shares in the last quarter. First Hawaiian Bank acquired a new position in Regal Rexnord in the 4th quarter worth about $811,000. Franklin Resources Inc. boosted its position in Regal Rexnord by 7.2% during the third quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company’s stock worth $204,254,000 after purchasing an additional 77,215 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Regal Rexnord by 1.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 431,774 shares of the company’s stock valued at $71,623,000 after purchasing an additional 4,752 shares during the period. Institutional investors and hedge funds own 99.72% of the company’s stock.

Regal Rexnord Price Performance

RRX stock opened at $118.03 on Friday. Regal Rexnord Co. has a 1 year low of $113.73 and a 1 year high of $185.28. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.26 and a quick ratio of 1.25. The firm has a market capitalization of $7.82 billion, a PE ratio of 40.01, a price-to-earnings-growth ratio of 1.37 and a beta of 1.11. The business has a 50 day simple moving average of $136.06 and a 200-day simple moving average of $155.56.

Regal Rexnord (NYSE:RRX) last issued its 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%. Equities research analysts anticipate that Regal Rexnord Co. will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The company also recently announced 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. This represents a $1.40 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend is Monday, March 31st. Regal Rexnord’s dividend payout ratio (DPR) is presently 47.46%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RRX. StockNews.com lowered Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 16th. Jefferies Financial Group started coverage on shares of Regal Rexnord in a research report on Thursday, December 12th. They issued a “buy” rating and a $215.00 target price on the stock. The Goldman Sachs Group upped their price target on shares of Regal Rexnord from $191.00 to $213.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Oppenheimer cut their price objective on Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Finally, Citigroup decreased their target price on Regal Rexnord from $210.00 to $190.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.