Amundi Sells 24,189 Shares of Regal Rexnord Co. (NYSE:RRX)

Amundi lessened its holdings in Regal Rexnord Co. (NYSE:RRX) by 51.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 23,185 shares of the company’s stock after selling 24,189 shares during the period. Amundi’s holdings in Regal Rexnord were worth $3,598,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of RRX. Tobam bought a new stake in Regal Rexnord in the fourth quarter worth $45,000. Jones Financial Companies Lllp increased its position in Regal Rexnord by 90.5% in the fourth 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. Smartleaf Asset Management LLC increased its position in Regal Rexnord by 45.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 337 shares of the company’s stock worth $52,000 after purchasing an additional 105 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its position in Regal Rexnord by 30.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company’s stock worth $71,000 after purchasing an additional 100 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC increased its position in Regal Rexnord by 335.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 622 shares of the company’s stock worth $97,000 after purchasing an additional 479 shares during the last quarter. Institutional investors own 99.72% of the company’s stock.

Analyst Ratings Changes

RRX has been the topic of a number of analyst reports. StockNews.com cut shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 16th. The Goldman Sachs Group boosted their price objective on shares of Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. 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 research report on Friday, February 7th. Barclays cut their price objective on shares of Regal Rexnord from $176.00 to $160.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. Finally, Jefferies Financial Group initiated coverage on shares of Regal Rexnord in a research report on Thursday, December 12th. They set a “buy” rating and a $215.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $195.75.

Regal Rexnord Trading Up 1.3 %

NYSE RRX opened at $116.44 on Monday. The company’s 50-day moving average price is $142.83 and its 200-day moving average price is $158.04. 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 stock has a market cap of $7.72 billion, a PE ratio of 39.47, a PEG ratio of 1.37 and a beta of 1.11. Regal Rexnord Co. has a 12 month low of $113.73 and a 12 month high of $185.28.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $2.34 EPS for the quarter, missing analysts’ consensus estimates of $2.56 by ($0.22). Regal Rexnord had a return on equity of 9.57% and a net margin of 3.25%. Equities research analysts forecast that Regal Rexnord Co. will post 9.95 earnings per share for the current year.

Regal Rexnord Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend is 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.