Short Interest in Regal Rexnord Co. (NYSE:RRX) Expands By 24.7%

Regal Rexnord Co. (NYSE:RRX - Get Free Report) was the recipient of a significant growth in short interest in March. As of March 31st, there was short interest totalling 1,870,000 shares, a growth of 24.7% from the March 15th total of 1,500,000 shares. Based on an average daily trading volume, of 711,200 shares, the short-interest ratio is presently 2.6 days. Currently, 2.8% of the company's stock are sold short.

Institutional Investors Weigh In On Regal Rexnord

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank Julius Baer & Co. Ltd Zurich grew its position in shares of Regal Rexnord by 7.4% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,111 shares of the company's stock valued at $190,000 after purchasing an additional 77 shares in the last quarter. Moors & Cabot Inc. boosted its stake in Regal Rexnord by 4.1% in the 4th quarter. Moors & Cabot Inc. now owns 2,139 shares of the company's stock worth $332,000 after purchasing an additional 85 shares during the period. Kovitz Investment Group Partners LLC increased its position in shares of Regal Rexnord by 3.8% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,382 shares of the company's stock valued at $370,000 after buying an additional 87 shares during the period. Advisory Research Inc. lifted its holdings in shares of Regal Rexnord by 1.5% in the fourth quarter. Advisory Research Inc. now owns 6,710 shares of the company's stock worth $1,041,000 after buying an additional 98 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its position in shares of Regal Rexnord by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 2,061 shares of the company's stock valued at $320,000 after acquiring an additional 101 shares during the period. Institutional investors own 99.72% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on RRX shares. 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 report on Wednesday, April 2nd. Barclays dropped their target price on Regal Rexnord from $160.00 to $155.00 and set an "overweight" rating on the stock in a report on Wednesday, March 26th. StockNews.com downgraded Regal Rexnord from a "buy" rating to a "hold" rating in a report on Wednesday, April 16th. Oppenheimer cut their price objective 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. Finally, Citigroup lowered their target price on shares of Regal Rexnord from $170.00 to $110.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $170.75.

Regal Rexnord Stock Performance

NYSE:RRX traded down $0.48 during trading hours on Friday, reaching $105.87. The stock had a trading volume of 79,158 shares, compared to its average volume of 713,239. Regal Rexnord has a 12-month low of $90.56 and a 12-month high of $185.28. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.25 and a current ratio of 2.26. The stock has a 50 day simple moving average of $115.28 and a 200 day simple moving average of $146.79. The stock has a market cap of $7.02 billion, a P/E ratio of 35.89, a price-to-earnings-growth ratio of 1.37 and a beta of 1.09.

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

Regal Rexnord Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 14th. Investors of record on Monday, March 31st were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.32%. The ex-dividend date was Monday, March 31st. Regal Rexnord's dividend payout ratio (DPR) is presently 47.46%.

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.