Commerce Bank Cuts Stock Position in Regal Rexnord Co. (NYSE:RRX)

Commerce Bank trimmed its position in shares of Regal Rexnord Co. (NYSE:RRX) by 1.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 420,892 shares of the company’s stock after selling 5,009 shares during the period. Commerce Bank’s holdings in Regal Rexnord were worth $65,293,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Skandinaviska Enskilda Banken AB publ grew its position in Regal Rexnord by 472.4% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company’s stock valued at $25,000 after acquiring an additional 137 shares during the last quarter. Bernard Wealth Management Corp. purchased a new stake in shares of Regal Rexnord in the 4th quarter valued at $30,000. Aster Capital Management DIFC Ltd bought a new position in shares of Regal Rexnord during the 4th quarter valued at $33,000. Tobam purchased a new position in Regal Rexnord in the 4th quarter worth $45,000. Finally, Jones Financial Companies Lllp lifted its stake in Regal Rexnord by 90.5% in the fourth quarter. Jones Financial Companies Lllp now owns 322 shares of the company’s stock worth $50,000 after purchasing an additional 153 shares during the last quarter. 99.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RRX has been the topic of several analyst reports. The Goldman Sachs Group decreased their price objective on Regal Rexnord from $183.00 to $163.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. Oppenheimer decreased their price target on Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. StockNews.com lowered Regal Rexnord from a “buy” rating to a “hold” rating in a research note on Wednesday. Citigroup decreased their target price on shares of Regal Rexnord from $170.00 to $110.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Finally, KeyCorp dropped their price target on shares of Regal Rexnord from $180.00 to $125.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $170.75.

Regal Rexnord Trading Up 1.8 %

Shares of RRX opened at $98.38 on Friday. Regal Rexnord Co. has a 1-year low of $90.56 and a 1-year high of $185.28. The company has a current ratio of 2.26, a quick ratio of 1.25 and a debt-to-equity ratio of 0.87. The firm’s 50-day moving average price is $118.86 and its 200-day moving average price is $149.02. The firm has a market capitalization of $6.52 billion, a price-to-earnings ratio of 33.35, a PEG 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 earnings per share 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%. Sell-side analysts anticipate that Regal Rexnord Co. will post 9.95 EPS for the current year.

Regal Rexnord Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 14th. Shareholders of record on Monday, March 31st were issued a $0.35 dividend. The ex-dividend date was Monday, March 31st. This represents a $1.40 dividend on an annualized basis and a yield of 1.42%. Regal Rexnord’s dividend payout ratio (DPR) is 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.