First Trust Advisors LP Reduces Stock Holdings in Regal Rexnord Co. (NYSE:RRX)

First Trust Advisors LP trimmed its position in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) by 80.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,427 shares of the company's stock after selling 30,852 shares during the period. First Trust Advisors LP's holdings in Regal Rexnord were worth $1,152,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. Skandinaviska Enskilda Banken AB publ boosted its holdings in Regal Rexnord by 472.4% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company's stock worth $25,000 after buying an additional 137 shares during the period. Bernard Wealth Management Corp. bought a new position in shares of Regal Rexnord in the fourth quarter worth $30,000. Aster Capital Management DIFC Ltd bought a new position in shares of Regal Rexnord in the fourth quarter worth $33,000. Tobam purchased a new position in shares of Regal Rexnord in the fourth quarter valued at $45,000. Finally, Jones Financial Companies Lllp raised its stake in shares of Regal Rexnord by 90.5% during the 4th quarter. Jones Financial Companies Lllp now owns 322 shares of the company's stock valued at $50,000 after purchasing an additional 153 shares during the period. 99.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RRX. KeyCorp reduced their price target on shares of Regal Rexnord from $180.00 to $125.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Oppenheimer reduced their target price on Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating for the company in a research report on Friday, February 7th. Citigroup raised their price target on Regal Rexnord from $110.00 to $145.00 and gave the company a "buy" rating in a report on Thursday. Robert W. Baird boosted their price objective on Regal Rexnord from $167.00 to $172.00 and gave the stock an "outperform" rating in a report on Wednesday. Finally, The Goldman Sachs Group lowered their target price on shares of Regal Rexnord from $183.00 to $163.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Regal Rexnord presently has a consensus rating of "Moderate Buy" and an average price target of $170.63.

Regal Rexnord Trading Up 1.6 %

Shares of Regal Rexnord stock traded up $2.05 during trading on Friday, reaching $134.24. 981,133 shares of the stock were exchanged, compared to its average volume of 557,182. Regal Rexnord Co. has a 1 year low of $90.56 and a 1 year high of $185.28. 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 stock's fifty day moving average is $111.89 and its 200 day moving average is $142.36. The firm has a market cap of $8.90 billion, a price-to-earnings ratio of 45.51, a price-to-earnings-growth ratio of 1.37 and a beta of 1.11.

Regal Rexnord (NYSE:RRX - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $2.15 EPS for the quarter, topping the consensus estimate of $1.82 by $0.33. Regal Rexnord had a net margin of 3.25% and a return on equity of 9.57%. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same period in the prior year, the business earned $2.00 EPS. The company's revenue for the quarter was down 8.4% on a year-over-year basis. As a group, equities research analysts expect that Regal Rexnord Co. will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 14th. Shareholders of record on Monday, June 30th will be issued a $0.35 dividend. The ex-dividend date is Monday, June 30th. This represents a $1.40 dividend on an annualized basis and a yield of 1.04%. Regal Rexnord's dividend payout ratio (DPR) is 39.89%.

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.