Oppenheimer & Co. Inc. Has $9.06 Million Stake in Regal Rexnord Co. (NYSE:RRX)

Oppenheimer & Co. Inc. reduced its stake in shares of Regal Rexnord Co. (NYSE:RRX) by 0.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 58,388 shares of the company’s stock after selling 265 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Regal Rexnord were worth $9,058,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp increased its position in shares of Regal Rexnord by 1.3% during the 3rd quarter. State Street Corp now owns 1,972,866 shares of the company’s stock worth $327,944,000 after purchasing an additional 24,860 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Regal Rexnord by 6.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,289,917 shares of the company’s stock worth $213,971,000 after buying an additional 83,823 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Regal Rexnord by 7.2% during the third quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company’s stock worth $204,254,000 after buying an additional 77,215 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Regal Rexnord by 1.1% in the third quarter. The Manufacturers Life Insurance Company now owns 1,137,746 shares of the company’s stock valued at $188,729,000 after acquiring an additional 12,301 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Regal Rexnord by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,104,090 shares of the company’s stock worth $183,195,000 after acquiring an additional 9,338 shares in the last quarter. 99.72% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on RRX. StockNews.com downgraded Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 16th. The Goldman Sachs Group lifted their price target on Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Robert W. Baird decreased their price objective on shares of Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Barclays dropped their target price on shares of Regal Rexnord from $190.00 to $176.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. Finally, Jefferies Financial Group began coverage on shares of Regal Rexnord in a research note on Thursday, December 12th. They set a “buy” rating and a $215.00 price target 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $197.75.

Regal Rexnord Stock Down 3.4 %

Shares of NYSE:RRX opened at $129.91 on Friday. 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 stock has a market cap of $8.60 billion, a price-to-earnings ratio of 44.04, a P/E/G ratio of 1.37 and a beta of 1.03. The company has a 50 day moving average of $151.18 and a 200-day moving average of $161.27. Regal Rexnord Co. has a one year low of $128.95 and a one year high of $185.28.

Regal Rexnord (NYSE:RRX) last issued its earnings results 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%. On average, sell-side analysts forecast that Regal Rexnord Co. will post 9.95 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend is Monday, March 31st. Regal Rexnord’s dividend payout ratio (DPR) is currently 47.46%.

About Regal Rexnord

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.