Schonfeld Strategic Advisors LLC Sells 62,237 Shares of Regal Rexnord Co. (NYSE:RRX)

Schonfeld Strategic Advisors LLC cut its stake in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) by 39.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 96,016 shares of the company's stock after selling 62,237 shares during the quarter. Schonfeld Strategic Advisors LLC owned about 0.14% of Regal Rexnord worth $14,895,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Skandinaviska Enskilda Banken AB publ raised its holdings in Regal Rexnord by 472.4% in the fourth 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 last quarter. Bernard Wealth Management Corp. bought a new stake in shares of Regal Rexnord during the fourth quarter valued at approximately $30,000. Aster Capital Management DIFC Ltd purchased a new position in Regal Rexnord in the 4th quarter worth approximately $33,000. Tobam bought a new position in Regal Rexnord in the 4th quarter valued at approximately $45,000. Finally, Jones Financial Companies Lllp boosted its stake in 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 last quarter. Hedge funds and other institutional investors own 99.72% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. StockNews.com cut Regal Rexnord from a "buy" rating to a "hold" rating in a research note on Wednesday, April 16th. KeyCorp decreased their target price on 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 lowered their target price on shares of Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating on the stock in a research note on Friday, February 7th. Barclays reduced their price target on shares of Regal Rexnord from $160.00 to $155.00 and set an "overweight" rating for the company in a research note on Wednesday, March 26th. Finally, Citigroup dropped their target price 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. Two investment analysts have rated the stock with a hold rating and eight 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 $170.75.

Regal Rexnord Stock Performance

NYSE RRX traded up $4.52 during trading hours on Friday, hitting $111.84. 681,131 shares of the company's stock traded hands, compared to its average volume of 541,456. Regal Rexnord Co. has a 52 week low of $90.56 and a 52 week high of $185.28. The firm has a market capitalization of $7.41 billion, a P/E ratio of 37.91, a P/E/G ratio of 1.37 and a beta of 1.09. The company has a current ratio of 2.26, a quick ratio of 1.25 and a debt-to-equity ratio of 0.87. The business's fifty day moving average price is $111.99 and its two-hundred day moving average price is $144.21.

Regal Rexnord (NYSE:RRX - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $2.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 EPS for the current year.

Regal Rexnord Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 14th. Stockholders of record on Monday, June 30th will be given a dividend of $0.35 per share. The ex-dividend date is Monday, June 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.25%. Regal Rexnord's payout ratio is currently 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.