Voya Investment Management LLC Cuts Stock Position in Regal Rexnord Co. (NYSE:RRX)

Voya Investment Management LLC reduced its stake in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) by 13.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 32,943 shares of the company's stock after selling 5,072 shares during the period. Voya Investment Management LLC's holdings in Regal Rexnord were worth $5,110,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ raised its holdings in shares of Regal Rexnord by 472.4% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company's stock valued at $25,000 after buying an additional 137 shares in the last quarter. Bernard Wealth Management Corp. purchased a new position in shares of Regal Rexnord during the fourth quarter worth approximately $30,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Regal Rexnord in the 4th quarter worth approximately $33,000. Tobam purchased a new stake in shares of Regal Rexnord in the 4th quarter valued at $45,000. Finally, Jones Financial Companies Lllp raised its position in Regal Rexnord by 90.5% in the 4th quarter. Jones Financial Companies Lllp now owns 322 shares of the company's stock worth $50,000 after purchasing an additional 153 shares during the period. Institutional investors own 99.72% of the company's stock.

Regal Rexnord Trading Up 4.2 %

Shares of RRX traded up $4.52 during trading hours on Friday, reaching $111.84. 681,131 shares of the company traded hands, compared to its average volume of 542,415. Regal Rexnord Co. has a 12 month low of $90.56 and a 12 month 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 company's fifty day moving average price is $111.99 and its two-hundred day moving average price is $144.21. The company has a market capitalization of $7.41 billion, a price-to-earnings ratio of 37.91, a price-to-earnings-growth ratio of 1.37 and a beta of 1.09.

Regal Rexnord (NYSE:RRX - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $2.34 earnings per share 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 predict 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 given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Monday, June 30th. Regal Rexnord's dividend payout ratio is currently 47.46%.

Wall Street Analyst Weigh In

Several analysts have issued reports on RRX shares. Citigroup cut their price target on shares of Regal Rexnord from $170.00 to $110.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. KeyCorp reduced their price target on Regal Rexnord from $180.00 to $125.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. The Goldman Sachs Group lowered their price objective 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. Barclays decreased their target price on shares of Regal Rexnord from $160.00 to $155.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 26th. Finally, Oppenheimer cut their price target on shares of Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating on the stock in a report on Friday, February 7th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $170.75.

Regal Rexnord Company 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.