Corient Private Wealth LLC Sells 3,324 Shares of Regal Rexnord Co. (NYSE:RRX)

Corient Private Wealth LLC reduced its stake in Regal Rexnord Co. (NYSE:RRX) by 34.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,288 shares of the company’s stock after selling 3,324 shares during the period. Corient Private Wealth LLC’s holdings in Regal Rexnord were worth $976,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ lifted its stake in Regal Rexnord by 472.4% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company’s stock worth $25,000 after purchasing an additional 137 shares in the last quarter. Tobam bought a new position in shares of Regal Rexnord in the fourth quarter worth $45,000. Jones Financial Companies Lllp raised its position in shares of 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 buying an additional 153 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in Regal Rexnord by 45.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 337 shares of the company’s stock valued at $52,000 after buying an additional 105 shares during the period. Finally, Nomura Asset Management Co. Ltd. grew its position in Regal Rexnord by 30.3% during the third quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company’s stock worth $71,000 after buying an additional 100 shares in the last quarter. 99.72% of the stock is currently owned by hedge funds and other institutional investors.

Regal Rexnord Price Performance

Shares of NYSE:RRX opened at $120.80 on Friday. The company’s fifty day moving average is $136.83 and its 200 day moving average is $155.77. The company has a quick ratio of 1.25, a current ratio of 2.26 and a debt-to-equity ratio of 0.87. Regal Rexnord Co. has a 52 week low of $113.73 and a 52 week high of $185.28. The stock has a market cap of $8.01 billion, a PE ratio of 40.95, a PEG ratio of 1.37 and a beta of 1.11.

Regal Rexnord (NYSE:RRX) last released its earnings results on Wednesday, February 5th. The company reported $2.34 earnings per share 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%. Research analysts anticipate that Regal Rexnord Co. will post 9.95 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Monday, March 31st. Regal Rexnord’s dividend payout ratio is 47.46%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on RRX shares. Citigroup dropped their price target on Regal Rexnord from $210.00 to $190.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Barclays dropped their target price on shares of Regal Rexnord from $160.00 to $155.00 and set an “overweight” rating for the company in a research report on Wednesday. The Goldman Sachs Group raised 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. StockNews.com downgraded shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 16th. Finally, Jefferies Financial Group started coverage on Regal Rexnord in a research note on Thursday, December 12th. They issued a “buy” rating and a $215.00 target price on the stock. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $195.13.

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.