Federated Hermes Inc. decreased its position in shares of Regal Rexnord Co. (NYSE:RRX – Get Rating) by 7.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,964 shares of the company's stock after selling 877 shares during the period. Federated Hermes Inc.'s holdings in Regal Rexnord were worth $1,539,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. bought a new stake in shares of Regal Rexnord during the first quarter valued at approximately $978,777,000. Capital World Investors bought a new stake in shares of Regal Rexnord during the first quarter valued at approximately $793,975,000. FMR LLC grew its stake in shares of Regal Rexnord by 14.3% during the second quarter. FMR LLC now owns 4,566,130 shares of the company's stock valued at $518,347,000 after purchasing an additional 570,608 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Regal Rexnord by 32.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,872,474 shares of the company's stock valued at $543,541,000 after purchasing an additional 951,511 shares during the last quarter. Finally, State Street Corp bought a new stake in shares of Regal Rexnord during the first quarter valued at approximately $266,837,000. Institutional investors and hedge funds own 99.98% of the company's stock.
Get Regal Rexnord alerts:Regal Rexnord Price Performance
Shares of RRX stock opened at $150.92 on Friday. Regal Rexnord Co. has a 52-week low of $108.28 and a 52-week high of $164.15. The stock has a market cap of $10.00 billion, a PE ratio of 20.67, a PEG ratio of 1.43 and a beta of 1.08. 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 firm's 50 day moving average price is $145.85 and its two-hundred day moving average price is $138.13.
Regal Rexnord (NYSE:RRX – Get Rating) last announced its quarterly earnings data on Wednesday, February 1st. The company reported $2.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.30 by $0.34. The firm had revenue of $1.24 billion for the quarter, compared to analysts' expectations of $1.26 billion. Regal Rexnord had a net margin of 9.37% and a return on equity of 11.36%. The business's revenue for the quarter was up 2.3% on a year-over-year basis. During the same period last year, the firm earned $2.14 earnings per share. As a group, analysts forecast that Regal Rexnord Co. will post 10.52 EPS for the current year.
Regal Rexnord Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, April 14th. Shareholders of record on Friday, March 31st will be issued a $0.35 dividend. The ex-dividend date is Thursday, March 30th. This represents a $1.40 annualized dividend and a yield of 0.93%. Regal Rexnord's dividend payout ratio (DPR) is presently 19.18%.
Analyst Ratings Changes
RRX has been the topic of several research analyst reports. Oppenheimer increased their price target on shares of Regal Rexnord from $180.00 to $190.00 and gave the company an "outperform" rating in a research note on Friday, February 3rd. KeyCorp increased their price target on shares of Regal Rexnord from $172.00 to $184.00 and gave the company an "overweight" rating in a research note on Thursday, February 2nd. Barclays increased their price target on shares of Regal Rexnord from $148.00 to $185.00 in a research note on Sunday, February 5th. Wolfe Research cut shares of Regal Rexnord from an "outperform" rating to a "peer perform" rating in a research note on Thursday, December 1st. Finally, Robert W. Baird raised their price objective on shares of Regal Rexnord from $167.00 to $188.00 in a research note on Friday, February 3rd. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $186.80.
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.
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