Blue Trust Inc. Cuts Stake in Regal Rexnord Co. (NYSE:RRX)

Blue Trust Inc. reduced its holdings in shares of Regal Rexnord Co. (NYSE:RRX) by 13.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm 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 large investors have also recently added to or reduced their stakes in the business. CIBC Asset Management Inc increased its stake in Regal Rexnord by 3.2% during the 3rd quarter. CIBC Asset Management Inc now owns 1,960 shares of the company’s stock worth $325,000 after buying an additional 61 shares during the period. 1620 Investment Advisors Inc. increased its position in shares of Regal Rexnord by 17.4% in the 3rd 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 last quarter. iA Global Asset Management Inc. increased its position in shares of Regal Rexnord by 2.7% in the 3rd quarter. iA Global Asset Management Inc. now owns 2,626 shares of the company’s stock valued at $436,000 after purchasing an additional 68 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of Regal Rexnord by 2.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,616 shares of the company’s stock valued at $601,000 after purchasing an additional 95 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its position in shares of Regal Rexnord by 30.3% in the 3rd 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 last quarter. 99.72% of the stock is owned by hedge funds and other institutional investors.

Regal Rexnord Trading Up 0.7 %

Shares of Regal Rexnord stock opened at $137.31 on Monday. Regal Rexnord Co. has a 1 year low of $130.94 and a 1 year high of $185.28. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.35 and a current ratio of 2.26. The company has a market capitalization of $9.09 billion, a P/E ratio of 46.55, a PEG ratio of 1.38 and a beta of 1.03. The company’s fifty day moving average is $156.24 and its two-hundred day moving average is $162.31.

Regal Rexnord (NYSE:RRX) last issued 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 return on equity of 9.57% and a net margin of 3.25%. Analysts forecast that Regal Rexnord Co. will post 10.32 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.02%. The ex-dividend date is Monday, March 31st. Regal Rexnord’s payout ratio is currently 47.46%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on RRX. Jefferies Financial Group began coverage on shares of Regal Rexnord in a research report on Thursday, December 12th. They issued a “buy” rating and a $215.00 price objective on the stock. Citigroup dropped their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Barclays dropped their price objective on shares of Regal Rexnord from $190.00 to $176.00 and set an “overweight” rating on the stock in a research report on Friday. Robert W. Baird lowered their target price on shares of Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Finally, StockNews.com cut shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 16th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $197.75.

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.