Capital World Investors Sells 497,410 Shares of Regal Rexnord Co. (NYSE:RRX)

Capital World Investors trimmed its holdings in Regal Rexnord Co. (NYSE:RRX - Free Report) by 7.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,289,322 shares of the company's stock after selling 497,410 shares during the quarter. Capital World Investors owned about 9.50% of Regal Rexnord worth $975,662,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in RRX. HighTower Advisors LLC raised its stake in shares of Regal Rexnord by 7.3% in the third quarter. HighTower Advisors LLC now owns 2,451 shares of the company's stock worth $403,000 after acquiring an additional 167 shares during the last quarter. Tidal Investments LLC raised its position in Regal Rexnord by 4.8% in the 3rd quarter. Tidal Investments LLC now owns 7,605 shares of the company's stock worth $1,262,000 after purchasing an additional 347 shares during the last quarter. Franklin Resources Inc. boosted its position in Regal Rexnord by 7.2% in the 3rd quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company's stock valued at $204,254,000 after buying an additional 77,215 shares during the last quarter. American Trust raised its position in shares of Regal Rexnord by 11.5% during the third quarter. American Trust now owns 1,797 shares of the company's stock worth $298,000 after acquiring an additional 185 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Regal Rexnord by 6.9% in the third quarter. JPMorgan Chase & Co. now owns 436,307 shares of the company's stock valued at $72,375,000 after acquiring an additional 28,278 shares during the last quarter. 99.72% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on RRX. Citigroup cut their price objective on shares of Regal Rexnord from $170.00 to $110.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Barclays decreased their price objective on Regal Rexnord from $160.00 to $155.00 and set an "overweight" rating for the company in a research note on Wednesday, March 26th. KeyCorp dropped their price objective on Regal Rexnord from $180.00 to $125.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. The Goldman Sachs Group decreased their target price on Regal Rexnord from $183.00 to $163.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Finally, StockNews.com cut Regal Rexnord from a "buy" rating to a "hold" rating in a research note on Wednesday, April 16th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Regal Rexnord currently has a consensus rating of "Moderate Buy" and a consensus price target of $170.75.

Regal Rexnord Stock Up 0.1 %

Shares of RRX traded up $0.12 during midday trading on Friday, hitting $106.46. The stock had a trading volume of 146,059 shares, compared to its average volume of 532,400. 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 cap of $7.05 billion, a price-to-earnings ratio of 36.07, a price-to-earnings-growth ratio of 1.37 and a beta of 1.09. The company has a 50 day simple moving average of $115.28 and a two-hundred day simple moving average of $146.79. Regal Rexnord Co. has a twelve month low of $90.56 and a twelve month high of $185.28.

Regal Rexnord (NYSE:RRX - Get Free Report) last released its 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 net margin of 3.25% and a return on equity of 9.57%. On average, analysts anticipate that Regal Rexnord Co. will post 9.95 EPS for the current year.

Regal Rexnord Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 14th. Shareholders of record on Monday, March 31st were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend was Monday, March 31st. Regal Rexnord's dividend payout ratio (DPR) is 47.46%.

About Regal Rexnord

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.