Geode Capital Management LLC Has $170.68 Million Stock Holdings in Regal Rexnord Co. (NYSE:RRX)

Geode Capital Management LLC lowered its stake in Regal Rexnord Co. (NYSE:RRX) by 0.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,099,877 shares of the company’s stock after selling 4,213 shares during the period. Geode Capital Management LLC’s holdings in Regal Rexnord were worth $170,678,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. O Shaughnessy Asset Management LLC increased its holdings in Regal Rexnord by 6.6% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 5,265 shares of the company’s stock valued at $817,000 after purchasing an additional 328 shares during the last quarter. Clearbridge Investments LLC grew its position in shares of Regal Rexnord by 10.1% during the 4th quarter. Clearbridge Investments LLC now owns 617,762 shares of the company’s stock worth $95,833,000 after buying an additional 56,590 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in shares of Regal Rexnord in the 4th quarter valued at about $747,000. Brown Brothers Harriman & Co. increased its stake in shares of Regal Rexnord by 6.4% in the 4th quarter. Brown Brothers Harriman & Co. now owns 2,485 shares of the company’s stock valued at $385,000 after acquiring an additional 150 shares during the last quarter. Finally, Pictet Asset Management Holding SA boosted its stake in Regal Rexnord by 13.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 9,323 shares of the company’s stock worth $1,446,000 after acquiring an additional 1,104 shares during the last quarter. 99.72% of the stock is currently owned by institutional investors.

Regal Rexnord Stock Down 3.8 %

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 stock has a market capitalization 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 Co. has a fifty-two week low of $92.50 and a fifty-two week high of $185.28. The business has a 50-day moving average of $130.83 and a 200-day moving average of $154.00.

Regal Rexnord (NYSE:RRX) last released its quarterly 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 return on equity of 9.57% and a net margin of 3.25%. On average, sell-side analysts anticipate that Regal Rexnord Co. will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be given a dividend of $0.35 per share. The ex-dividend date is Monday, March 31st. This represents a $1.40 annualized dividend and a yield of 1.42%. Regal Rexnord’s dividend payout ratio (DPR) is presently 47.46%.

Analysts Set New Price Targets

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

Regal Rexnord Company 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.