Victory Capital Management Inc. lessened its stake in shares of Regal Rexnord Co. (NYSE:RRX – Get Rating) by 47.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 172,615 shares of the company's stock after selling 157,150 shares during the period. Victory Capital Management Inc. owned 0.26% of Regal Rexnord worth $24,229,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also recently made changes to their positions in the company. Waterfront Wealth Inc. bought a new position in Regal Rexnord during the third quarter valued at approximately $237,000. Brinker Capital Investments LLC boosted its position in shares of Regal Rexnord by 3.7% during the 3rd quarter. Brinker Capital Investments LLC now owns 25,764 shares of the company's stock valued at $3,616,000 after acquiring an additional 929 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Regal Rexnord in the third quarter valued at $217,000. Great West Life Assurance Co. Can increased its position in Regal Rexnord by 11.0% in the third quarter. Great West Life Assurance Co. Can now owns 46,789 shares of the company's stock worth $6,572,000 after purchasing an additional 4,649 shares during the last quarter. Finally, Park Avenue Securities LLC purchased a new stake in Regal Rexnord during the third quarter valued at $239,000. Hedge funds and other institutional investors own 99.98% of the company's stock.
Get Regal Rexnord alerts:Regal Rexnord Stock Up 1.6 %
NYSE:RRX opened at $136.83 on Tuesday. The stock has a fifty day simple moving average of $125.65 and a 200-day simple moving average of $132.93. The company has a current ratio of 2.89, a quick ratio of 1.60 and a debt-to-equity ratio of 0.35. The company has a market cap of $9.05 billion, a price-to-earnings ratio of 24.01, a price-to-earnings-growth ratio of 1.25 and a beta of 1.08. Regal Rexnord Co. has a twelve month low of $108.28 and a twelve month high of $166.40.
Regal Rexnord (NYSE:RRX – Get Rating) last announced its quarterly earnings data on Monday, October 31st. The company reported $2.66 earnings per share for the quarter, meeting analysts' consensus estimates of $2.66. The company had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.32 billion. Regal Rexnord had a net margin of 7.37% and a return on equity of 10.91%. Analysts anticipate that Regal Rexnord Co. will post 10.41 EPS for the current year.Regal Rexnord Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 13th. Investors of record on Friday, December 30th were paid a $0.35 dividend. The ex-dividend date was Thursday, December 29th. This represents a $1.40 annualized dividend and a yield of 1.02%. Regal Rexnord's dividend payout ratio (DPR) is currently 24.56%.
Analyst Ratings Changes
RRX has been the topic of a number of research reports. Robert W. Baird reduced their target price on shares of Regal Rexnord from $174.00 to $167.00 in a report on Wednesday, November 2nd. StockNews.com initiated coverage on Regal Rexnord in a research note on Wednesday, October 12th. They set a "buy" rating on the stock. Oppenheimer lowered their price objective on Regal Rexnord to $180.00 in a research note on Wednesday, December 14th. Finally, Wolfe Research lowered Regal Rexnord from an "outperform" rating to a "peer perform" rating in a report on Thursday, December 1st. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Regal Rexnord presently has an average rating of "Moderate Buy" and an average target price of $172.60.
About Regal Rexnord
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Regal Rexnord Corporation, together with its subsidiaries, designs, manufactures, and sells industrial powertrain solutions, power transmission components, electric motors and electronic controls, air moving products, and specialty electrical components and systems worldwide. It operates through four segments: Commercial Systems, Industrial Systems, Climate Solutions, and Motion Control Solutions.
Further Reading
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