Prudential Financial Inc. Sells 1,978 Shares of Regal Rexnord Co. (NYSE:RRX)

Prudential Financial Inc. trimmed its holdings in Regal Rexnord Co. (NYSE:RRX) by 22.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,983 shares of the company’s stock after selling 1,978 shares during the quarter. Prudential Financial Inc.’s holdings in Regal Rexnord were worth $1,083,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in RRX. Victory Capital Management Inc. lifted its stake in Regal Rexnord by 20.1% in the fourth quarter. Victory Capital Management Inc. now owns 2,176,963 shares of the company’s stock valued at $337,712,000 after buying an additional 363,728 shares during the period. TimesSquare Capital Management LLC boosted its stake in Regal Rexnord by 35.7% during the fourth quarter. TimesSquare Capital Management LLC now owns 884,095 shares of the company’s stock worth $137,150,000 after acquiring an additional 232,509 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Regal Rexnord in the fourth quarter worth $22,325,000. Franklin Resources Inc. increased its stake in Regal Rexnord by 7.2% in the third quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company’s stock valued at $204,254,000 after purchasing an additional 77,215 shares in the last quarter. Finally, Jennison Associates LLC raised its holdings in shares of Regal Rexnord by 33.9% during the fourth quarter. Jennison Associates LLC now owns 175,702 shares of the company’s stock valued at $27,257,000 after purchasing an additional 44,447 shares during the period. Institutional investors own 99.72% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on RRX. Barclays reduced their target price on Regal Rexnord from $160.00 to $155.00 and set an “overweight” rating for the company in a research note on Wednesday, March 26th. Citigroup decreased their price objective on Regal Rexnord from $210.00 to $190.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Jefferies Financial Group started coverage on Regal Rexnord in a report on Thursday, December 12th. They issued a “buy” rating and a $215.00 target price on the stock. StockNews.com lowered shares of Regal Rexnord from a “buy” rating to a “hold” rating in a research note on Monday, March 31st. Finally, The Goldman Sachs Group dropped their price objective on shares of Regal Rexnord from $183.00 to $163.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $188.88.

Regal Rexnord Stock Performance

Shares of RRX stock opened at $98.77 on Monday. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.26 and a quick ratio of 1.25. The firm has a 50-day moving average of $130.83 and a 200-day moving average of $154.00. Regal Rexnord Co. has a one year low of $92.50 and a one year high of $185.28. The company has a market cap of $6.55 billion, a P/E ratio of 33.48, a P/E/G ratio of 1.37 and a beta of 1.09.

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

Regal Rexnord Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be given a $0.35 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.40 annualized dividend and a yield of 1.42%. Regal Rexnord’s dividend payout ratio is currently 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.