Regal Rexnord Co. (NYSE:RRX) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company decreased its stake in Regal Rexnord Co. (NYSE:RRX - Free Report) by 0.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,131,117 shares of the company's stock after selling 6,629 shares during the period. The Manufacturers Life Insurance Company owned 1.71% of Regal Rexnord worth $175,470,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Skandinaviska Enskilda Banken AB publ lifted its stake in Regal Rexnord by 472.4% in the fourth 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 during the last quarter. Bernard Wealth Management Corp. acquired a new position in shares of Regal Rexnord in the 4th quarter valued at $30,000. Aster Capital Management DIFC Ltd purchased a new stake in Regal Rexnord in the 4th quarter valued at $33,000. Tobam acquired a new stake in Regal Rexnord during the 4th quarter worth $45,000. Finally, Jones Financial Companies Lllp grew its position in Regal Rexnord by 90.5% during 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 last quarter. Institutional investors and hedge funds own 99.72% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on RRX shares. Barclays reduced their target price on shares of Regal Rexnord from $160.00 to $155.00 and set an "overweight" rating for the company in a report on Wednesday, March 26th. Oppenheimer decreased their price objective 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. The Goldman Sachs Group lowered their target price on Regal Rexnord from $183.00 to $163.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. StockNews.com cut Regal Rexnord from a "buy" rating to a "hold" rating in a research note on Wednesday, April 16th. Finally, KeyCorp lowered their price objective on shares of Regal Rexnord from $180.00 to $125.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Two 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, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $170.75.

Regal Rexnord Price Performance

RRX stock traded up $4.52 on Friday, reaching $111.84. 681,131 shares of the company's stock were exchanged, compared to its average volume of 541,456. Regal Rexnord Co. has a twelve month low of $90.56 and a twelve 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 stock has a fifty day moving average of $111.99 and a 200-day moving average of $144.21. The firm has a market cap of $7.41 billion, a PE ratio of 37.91, a P/E/G ratio of 1.37 and a beta of 1.09.

Regal Rexnord (NYSE:RRX - Get Free Report) last announced its quarterly earnings results 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%. As a group, equities analysts predict that Regal Rexnord Co. will post 9.95 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The business also recently declared 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 of this dividend 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 47.46%.

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.