Robeco Institutional Asset Management B.V. Cuts Position in Regal Rexnord Co. (NYSE:RRX)

Robeco Institutional Asset Management B.V. cut its stake in Regal Rexnord Co. (NYSE:RRX – Get Rating) by 0.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 60,863 shares of the company’s stock after selling 267 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 0.09% of Regal Rexnord worth $8,543,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. SeaCrest Wealth Management LLC purchased a new position in shares of Regal Rexnord in the 2nd quarter valued at $33,000. Point72 Hong Kong Ltd purchased a new position in shares of Regal Rexnord in the 1st quarter valued at $42,000. CWM LLC boosted its position in shares of Regal Rexnord by 39.1% in the 3rd quarter. CWM LLC now owns 313 shares of the company’s stock worth $44,000 after purchasing an additional 88 shares in the last quarter. American National Bank acquired a new stake in shares of Regal Rexnord in the 3rd quarter worth $49,000. Finally, Lazard Asset Management LLC acquired a new stake in shares of Regal Rexnord in the 3rd quarter worth $60,000. 99.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on RRX. StockNews.com began coverage on Regal Rexnord in a research report on Thursday. They issued a “buy” rating for the company. Oppenheimer raised their price objective on Regal Rexnord from $180.00 to $190.00 and gave the stock an “outperform” rating in a research report on Friday, February 3rd. Wolfe Research cut Regal Rexnord from an “outperform” rating to a “peer perform” rating in a research report on Thursday, December 1st. KeyCorp lifted their price target on Regal Rexnord from $172.00 to $184.00 and gave the stock an “overweight” rating in a research report on Thursday, February 2nd. Finally, Robert W. Baird lifted their price target on Regal Rexnord from $167.00 to $188.00 in a research report on Friday, February 3rd. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $186.80.

Regal Rexnord Stock Performance

Shares of RRX opened at $137.19 on Friday. The stock has a 50-day moving average of $147.95 and a two-hundred day moving average of $138.15. Regal Rexnord Co. has a one year low of $108.28 and a one year high of $164.15. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.66 and a current ratio of 2.99. The stock has a market cap of $9.09 billion, a P/E ratio of 18.79, a P/E/G ratio of 1.33 and a beta of 1.08.

Regal Rexnord (NYSE:RRX – Get Rating) last issued its quarterly earnings data on Wednesday, February 1st. The company reported $2.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.34. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Regal Rexnord had a return on equity of 11.36% and a net margin of 9.37%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.14 EPS. As a group, research analysts predict that Regal Rexnord Co. will post 10.52 EPS for the current year.

Regal Rexnord Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 14th. Stockholders of record on Friday, March 31st will be issued a $0.35 dividend. The ex-dividend date of this dividend is Thursday, March 30th. This represents a $1.40 annualized dividend and a dividend yield of 1.02%. Regal Rexnord’s dividend payout ratio (DPR) is presently 19.18%.

Regal Rexnord Company Profile

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Regal Rexnord Corp. engages in the manufacture of electric motors, electrical motion controls, power generation, and power transmission products. It operates through the following segments: Commercial Systems, Industrial Systems, Climate Solutions, and Power Transmission Solutions. The Commercial Systems segment produces fractional to 5 horsepower AC and DC motors, electric variable speed controls, fans, and blowers for commercial applications.